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IndusInd Bank FD Calculator

IndusInd Bank Fixed Deposit Calculator 2020

Last Updated 29th Jul 2020

IndusInd Bank FDs have tenures ranging from 1 year to 2 years 11 months 4 days with maximum rate of interest of 7.00%. Interest rates for senior citizens are higher than the normal rates and ranges upto 7.50%.

Tenure Rates Maturity Amount for ₹ 1 Lakh
7 days to 14 days 3.25% to 3.75% ₹ 1,00,062 - ₹ 1,00,144
15 days to 30 days 3.25% to 3.75% ₹ 1,00,134 - ₹ 1,00,308
31 days to 45 days 3.75% to 4.25% ₹ 1,00,318 - ₹ 1,00,524
46 days to 60 days 4.10% to 4.60% ₹ 1,00,517 - ₹ 1,00,756
IndusInd Bank FD Maturity Calculator
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IndusInd Bank Fixed Deposit Calculator

IndusInd 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.

  • Deposit amount – This is the initial amount deposited by a customer in IndusInd Bank. Bank may allow higher interest rate on larger deposits. IndusInd Bank offers deposit amount in the range of 1,000 to No Limit.
  • Rate of Interest - Interest rate is the rate charged by the bank on your fixed deposit. IndusInd Bank offers a higher rate of interest on fixed deposits of longer tenure and lower interest rate on deposits of less than a year. Highest interest rate offered by IndusInd Bank is 7.00% for deposit amount between Rs. 15 Lakh and less than Rs. 1 crore corresponding to a deposit tenure of 1 year to 2 years 11 months 4 days.
  • Period of deposit - Bank offers low interest rate for short tenure FDs and higher interest rate for long tenure FDs. Bank offers a rate of 3.25% for a 1 year FD and a rate of 7.00% for a 2 years 11 months 4 days FD.
  • Interest Compounding Frequency - This determines the frequency at which interest is compounded. Compounding frequency can be monthly, quarterly, half yearly or annual frequency.
  • TDS applicability and TDS rate
    • Illustration: Mr. A opens a FD account of ₹ 1,00,000 with a tenure of 7 days at an interest rate of 3.25%. In this case, the maturity amount at the end of 7 days will be ₹ 1,00,671 which includes the principal of ₹ 1,00,000 and interest of ₹ 671 is earned on the principal amount during the period. Similarly, you can calculate the interest and maturity amount for higher tenures by using FD calculators.

      IndusInd Bank calculates quarterly interest on its fixed deposits. You can also opt for tax saving scheme to save tax on fixed deposit.

IndusInd Bank Fixed Deposit Interest Calculator – Interest Payment Options

  • In a periodic interest payout option, IndusInd Bank would transfer the interest earned at each interval (say, quarterly) to your bank account. The interest would remain the same across the life of the deposit. On maturity, unless the deposit is renewed, would transfer the principal amount to your bank account.
  • In case you opt for a IndusInd Bank cumulative deposit, on maturity you would get a credit for the principal and interest earned net of TDS.
  • Calculate the FD maturity amount using the FD calculator.

FD Maturity Calculator

The interest earned on a fixed deposit in IndusInd Bank depends on the deposit amount, interest applicable, deposit tenure and the type of interest calculation frequency. Interest on IndusInd Bank FD can be calculated monthly, quarterly, half-yearly and annually. The interest rates for senior citizens are higher than normal rates of IndusInd Bank FD.

Suppose if you make an investment of ₹ 1,00,000 in IndusInd Bank FD for a 5-year tenure at an interest rate of % for depositors below 60 years and % for senior citizens. The maturity amount for this deposit amount is ₹ 1,00,000 and the total interest earned is ₹ 0 for below 60 years age citizens. However, the interest earned for senior citizens is ₹ 0 which is higher. The maturity schedule of IndusInd Bank FD for 5 years is explained below in the table –

Maturity Schedule for ₹ 1,00,000 FD at % for Citizens below 60 years and at % 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
2020 ₹ 0 ₹ 1,00,000 ₹ 0 ₹ 1,00,000
2021 ₹ 0 ₹ 1,00,000 ₹ 0 ₹ 1,00,000
2022 ₹ 0 ₹ 1,00,000 ₹ 0 ₹ 1,00,000
2023 ₹ 0 ₹ 1,00,000 ₹ 0 ₹ 1,00,000
2024 ₹ 0 ₹ 1,00,000 ₹ 0 ₹ 1,00,000
2025 ₹ 0 ₹ 1,00,000 ₹ 0 ₹ 1,00,000

IndusInd 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 IndusInd Bank FD.

A = P (1 + r/n) ^ n*t
In the above formula –

  • A - Amount received on maturity
  • P – Deposit amount
  • r - Annual interest rate
  • n - Number of times the interest is compounded
  • t is Investment tenure

FAQs

What is the highest interest earned on IndusInd Bank fixed deposit?

You can earn a maximum interest of 7.00% on IndusInd Bank fixed deposit.

How is IndusInd Bank FD interest calculated?

The formula to calculate interest on IndusInd 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 IndusInd Bank?

The growth of IndusInd 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 IndusInd 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 7.35%. Now applying the rule, just divide the number 72 by the rate of interest. So 72/7.35 = 9.80. So it will take a little more than 14 years for one’s investment to get doubled in IndusInd Bank.

What are the minimum and maximum amounts that I can invest in an IndusInd Bank FD?

The minimum investment limit in IndusInd Bank Fixed deposit account is ₹ 1,000 and there is no maximum investment limit on FD.


IndusInd Bank News - Sep 2020
  • 2020-01-15 : IndusInd Bank Q3 net profit rose by 32%
    Private sector IndusInd Bank reported an increase in profit by 32% to Rs 1300.20 crores for the 3rd quarter of the current financial year. In addition to this, total income for Q3 rose by 25.4% to Rs 9073.93 crores and net interest income increased by 34% to 3074 crores. Total deposits rose to ₹2,16,713 crore in December quarter due to an increase in fixed and recurring deposits
  • 2019-10-31 : IndusInd Bank gains 52% year-on-year profit in Q2
    IndusInd Bank declared a rise in its net profit by 52%, landing it at Rs 1400.96 crores. The private sector lender reported a deterioration in its asset quality due to its gross non-performing assets shifting to 2.19 percent from last years records of 1.09 percent. The bank performed well in terms of investments like deposits that rose to 23.17% to Rs 2.07 trillion.
  • 2019-07-18 : IndusInd Bank witness growth in vehicle loans and CASA deposits
    Private sector lender, IndusInd Bank has posted a 38 percent rise in its net profit to Rs. 1,433 crores for the June quarter, primarily on account of an increase in total income. Also, it has received a significant growth across its vehicle loans, corporate loans, fixed deposits, and savings bank account, which grew by 25% this year.
  • 2019-04-15 : IndusInd Bank launches a campaign to celebrate 25 years
    Private sector lender, IndusInd Bank has announced the launch of a multimedia campaign ‘#Just25’ to commemorate the completion of its journey of 25 years. The campaign showcases how the bank has managed to achieve its goals by helping different individuals over the 25 years of journey. The bank has also highlighted how it has managed to achieve strong growth across its retail loans including personal loans, home loans and fixed deposits.
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