ESAF Small Finance Bank FD Calculator
ESAF Small Finance Bank Fixed Deposit Calculator 2021
ESAF Small Finance Bank FDs have tenures ranging from 6 months 3 days to 1 year 11 months 2 days with maximum rate of interest of 6.50%. Interest rates for senior citizens are higher than the normal rates and ranges upto 7.00%.
| Tenure | Rates | Maturity Amount for ₹ 1 Lakh |
|---|---|---|
| 7 days to 14 days | 4.50% to 5.00% | ₹ 1,00,086 - ₹ 1,00,192 |
| 15 days to 59 days | 5.00% to 5.50% | ₹ 1,00,205 - ₹ 1,00,889 |
| 60 days to 90 days | 5.75% to 6.25% | ₹ 1,00,945 - ₹ 1,01,541 |
| 91 days to 181 days | 6.00% to 6.50% | ₹ 1,01,496 - ₹ 1,03,249 |
| 182 days | 5.50% to 6.00% | ₹ 1,02,761 - ₹ 1,03,014 |
| 183 days to 363 days | 6.50% to 7.00% | ₹ 1,03,286 - ₹ 1,07,145 |
| 364 days | 5.75% to 6.25% | ₹ 1,05,859 - ₹ 1,06,380 |
| 365 days to 545 days | 6.50% to 7.00% | ₹ 1,06,660 - ₹ 1,10,918 |
| 546 days | 5.25% to 5.75% | ₹ 1,08,115 - ₹ 1,08,915 |
| 547 days to 727 days | 6.50% to 7.00% | ₹ 1,10,145 - ₹ 1,14,823 |
| 728 days | 5.50% to 6.00% | ₹ 1,11,511 - ₹ 1,12,613 |
| 729 days to 909 days | 6.25% to 6.50% | ₹ 1,13,186 - ₹ 1,17,419 |
| 910 days | 5.50% to 6.00% | ₹ 1,14,590 - ₹ 1,16,007 |
| 911 days to 1091 days | 6.25% to 6.75% | ₹ 1,16,741 - ₹ 1,22,150 |
| 1092 days | 5.50% to 6.00% | ₹ 1,17,754 - ₹ 1,19,503 |
| 1093 days to 1273 days | 6.00% to 6.50% | ₹ 1,19,523 - ₹ 1,25,217 |
| 1274 days | 5.50% to 6.00% | ₹ 1,21,005 - ₹ 1,23,105 |
| 1275 days to 1455 days | 6.00% to 6.50% | ₹ 1,23,125 - ₹ 1,29,308 |
| 1456 days | 5.50% to 6.00% | ₹ 1,24,347 - ₹ 1,26,816 |
| 1457 days to 1637 days | 6.00% to 6.50% | ₹ 1,26,836 - ₹ 1,33,533 |
| 1638 days | 5.50% to 6.00% | ₹ 1,27,780 - ₹ 1,30,638 |
| 1639 days to 1819 days | 6.00% to 6.50% | ₹ 1,30,659 - ₹ 1,37,896 |
| 1820 days | 5.50% to 6.00% | ₹ 1,31,308 - ₹ 1,34,576 |
| 1821 days to 3653 days | 5.50% to 6.00% | ₹ 1,31,328 - ₹ 1,81,491 |
ESAF Small Finance Bank Fixed Deposit Calculator
ESAF Small Finance Bank fixed deposit calculator helps you to calculate maturity value of your deposited amount at the interest rate offered compounded at quarterly. The amount of fixed deposits, interest rates on FD, deposit tenure and compounding frequency of interest together determine the maturity amount of the FD at the end of the tenure.
ESAF Small Finance Bank Fixed Deposit Interest Calculator – Interest Payment Options
FD Maturity Calculator
The interest earned on a fixed deposit in ESAF Small Finance Bank depends on the deposit amount, interest applicable, deposit tenure and the type of interest calculation frequency. Interest on ESAF Small Finance Bank FD can be calculated monthly, quarterly, half-yearly and annually. The interest rates for senior citizens are higher than normal rates of ESAF Small Finance Bank FD.
Suppose if you make an investment of ₹ 1,00,000 in ESAF Small Finance Bank FD for a 5-year tenure at an interest rate of 6.50% for depositors below 60 years and 7.00% for senior citizens. The maturity amount for this deposit amount is ₹ 1,38,042 and the total interest earned is ₹ 38,042 for below 60 years age citizens. However, the interest earned for senior citizens is ₹ 41,478 which is higher. The maturity schedule of ESAF Small Finance Bank FD for 5 years is explained below in the table –
Maturity Schedule for ₹ 1,00,000 FD at 6.50% for Citizens below 60 years and at 7.00% for Senior Citizens for 5 years
| Year | Citizens below 60 Years of Age | Senior Citizens above 60 Years | ||||
|---|---|---|---|---|---|---|
| Interest Earned | Closing Balance | Interest Earned | Closing Balance | |||
| 2021 | ₹ 6,660 | ₹ 1,06,660 | ₹ 7,186 | ₹ 1,07,186 | ||
| 2022 | ₹ 7,104 | ₹ 1,13,764 | ₹ 7,702 | ₹ 1,14,888 | ||
| 2023 | ₹ 7,577 | ₹ 1,21,341 | ₹ 8,256 | ₹ 1,23,144 | ||
| 2024 | ₹ 8,082 | ₹ 1,29,423 | ₹ 8,849 | ₹ 1,31,993 | ||
| 2025 | ₹ 8,620 | ₹ 1,38,043 | ₹ 9,485 | ₹ 1,41,478 | ||
ESAF Small Finance Bank FD Calculator Formula
Along with online FD Calculator, you can use the formula to do the mathematical calculation of the maturity amount and interest earned on ESAF Small Finance Bank FD.
A = P (1 + r/n) ^ n*t
In the above formula –
Other Investment Calculators
FAQs
✅What is the highest interest earned on ESAF Small Finance Bank fixed deposit?
You can earn a maximum interest of 6.50% on ESAF Small Finance Bank fixed deposit.
✅How is ESAF Small Finance Bank FD interest calculated?
The formula to calculate interest on ESAF Small Finance Bank FD is
A = P(1+r/n)^nt
Here: A = Maturity amount
P = Invested amount
r = Interest rate as decimal
n = number of times interest is compunded
t = tenure of deposit
However, you can use online FD calculator to estimate the value of interest earned on the deposited amount.
✅How many years FD will double in ESAF Small Finance Bank?
The growth of ESAF Small Finance Bank FD depends on the rate of interest and tenure. There is a method called Rule 72, which computes the number of years it will take to double one’s amount invested in ESAF Small Finance Bank FD. Now to apply the rule, one needs the rate of interest we get on FD. Let’s say the interest offered on FD is 6.95%. Now applying the rule, just divide the number 72 by the rate of interest. So 72/6.95 = 10.36. So it will take a little more than 14 years for one’s investment to get doubled in ESAF Small Finance Bank.
✅What are the minimum and maximum amounts that I can invest in an ESAF Small Finance Bank FD?
The minimum investment limit in ESAF Small Finance Bank Fixed deposit account is ₹ 1,000 and there is no maximum investment limit on FD.
