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IndusInd Bank FD Calculator

IndusInd Bank Fixed Deposit Calculator 2022

Last Updated 05th Jan 2022

IndusInd Bank FDs have tenures ranging from 2 years to 2 years 11 months 4 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 Interest Rate for General Public Interest Rate for Senior Citizens Max Maturity Amount per Lakh
7 days to 14 days 2.50% 3.00% ₹ 1,00,048 - ₹ 1,00,115
15 days to 30 days 2.75% 3.25% ₹ 1,00,113 - ₹ 1,00,267
31 days to 45 days 3.00% 3.50% ₹ 1,00,255 - ₹ 1,00,432
46 days to 60 days 3.25% 3.75% ₹ 1,00,410 - ₹ 1,00,616
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IndusInd Bank Fixed Deposit Calculator

IndusInd Bank fixed deposit calculator helps you calculate maturity value of your deposited amount at the interest rate which is compounded 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. Banks may allow a higher interest rate on larger deposits. IndusInd Bank offers a deposit amount in the range of Rs. 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 6.50% for deposit amount between Rs. 15 Lakh and less than Rs. 1 crore corresponding to a deposit tenure of 2 years 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 2.50% for a 2 years FD and a rate of 6.50% 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 - A TDS of 10% of interest amount is applicable if you earn more than Rs 40,000 in a year from FD, which is called FD income. If you do not submit the PAN Card to the bank then TDS rate will be 20% of interest amount.
    • Illustration: Mr. A opens a FD account of ₹ 1,00,000 with a tenure of 7 days at an interest rate of 2.50%. 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 a tax saving scheme to save tax on fixed deposit.

How to Use MyLoanCare FD Calculator

Here is a simple procedure to use MyLoanCare FD calculator:-

  • Go to the FD Calculator.
  • Fill the fields like Deposit Amount, Rate of Interest, Period of Deposit (In years or months), Interest compound frequency.
  • Click Calculate.
  • Result will be shown, which will consist of total maturity amount and total interest earned

IndusInd Bank Fixed Deposit Interest Rate Calculator – Interest Payment Options

  • Non Cumulative- 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.
  • Cumulative- 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.

How is IndusInd Bank FD Rate Calculated?

IndusInd Bank calculates fd interest in two ways, one is cumulative and non-cumulative as discussed above. It is a decision made by you whether you want interest payout at the end of the tenure or monthly, quarterly, half-yearly or yearly. To earn more money you can go for a cumulative method because interest earned throughout the tenure is added to the principal amount and is compounded then. However, if you are looking for monthly income or so then you can go for non-cumulative.

IndusInd Bank FD Maturity Calculation for 5 Year

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.

Let’s understand how much interest you will earn if you invest ₹ 1,00,000 in IndusInd 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 schedule of IndusInd 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
2022 ₹ 6,660 ₹ 1,06,660 ₹ 7,186 ₹ 1,07,186
2023 ₹ 7,104 ₹ 1,13,764 ₹ 7,702 ₹ 1,14,888
2024 ₹ 7,577 ₹ 1,21,341 ₹ 8,256 ₹ 1,23,144
2025 ₹ 8,082 ₹ 1,29,423 ₹ 8,849 ₹ 1,31,993
2026 ₹ 8,620 ₹ 1,38,043 ₹ 9,485 ₹ 1,41,478

IndusInd Bank FD Calculator Formula

Along with an 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

Other Investment Calculators

FAQs

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

You can earn a maximum interest of 6.50% on IndusInd Bank fixed deposits.

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.You can also use IndusInd Bank fd calculator to calculate the maturity amount. Now to apply the rule, one needs the rate of interest we get on FD. Let’s say the interest offered on FD is 7.05%. Now applying the rule, just divide the number 72 by the rate of interest. So 72/7.05 = 10.21. 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.

Can I withdraw my premature FD from IndusInd Bank?

Yes, you can withdraw your premature FD amount if you want money before the tenure ends. However, you might have to pay a penalty fee ranging from 1% of FD amount for premature withdrawal.

How can I calculate IndusInd Bank premature FD amount?

To calculate premature FD amount you can use IndusInd Bank bank fd calculator. All you have to put is the value of the invested amount, tenure, interest rate and premature penalty rate (if any).


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IndusInd Bank News - Jan 2022
  • 2021-12-28 : IndusInd Bank Launches Green Fixed Deposits
    IndusInd Bank announces about the launch of Green Fixed Deposits. The bank will use the deposits to finance projects and firms supporting the United Nations Sustainable Development Goals. These include projects falling under categories such as energy efficiency, green transport, agriculture, forestry, waste management, and greenhouse gas reduction.
  • 2021-06-14 : IndusInd bank revised its FD rates for the month of June
    With effect from June 04, 2021, IndusInd revised its FD rates. The FD rate for 7 to 30 days is 2.75%, for 31 to 45 days the rate stands at 3%, for 46 to 60 days the rate stands at 3.5%. The rate for 61 to 90 days is 3.75%, for 91 to 120 days the rate stands at 4% and 4.5% for 121 to 180 days. It is 5% for 181 to 210 days. Further, the rate for 211 to 269 days is 5.25%, for 270 days to 364 days it is 5.50% and stands at 6.% for 1 to 2 years. From 2 years to 3 years the interest rate is highest at 6.5%. Further, the rate for long tenure of 5 to 10 years stands at 6%.
  • 2021-02-26 : IndusInd Bank to grow loan book by 15-18%
    IndusInd Bank is expecting to grow its loan portfolio by 15-18% year-on-year for the next two financial years under its fifth planning cycle.The Bank’s year-on-year growth in advances which include home, personal, LAP, two-wheeler car and gold loan along with business and mudra loan was flat at Rs 2.07 trillion until December 2020. Its deposits which include fixed and recurring deposits, grew by 10% to Rs 2.39 trillion.
  • 2021-01-08 : IndusInd Bank reported 11% growth in Q3 deposits
    IndusInd Bank posted a 3.2% quarter-on-quarter growth in the net advances which include home, personal, car, two-wheeler, gold and education loan along with business and mudra loans in the December quarter. Further, the bank also posted a 5% quarterly growth in deposits which includes fixed and recurring deposits.
  • 2020-12-31 : IndusInd revised its FD rates
    With effect from 31 December 2020, IndusInd revised its FD rates. The FD rates for 7 to 30 days is 3% for 31 to 45 days the rate stands at 3.40%, for 46 to 60 days the rate stands at 3.75%. The rate for 61 to 90 days is 4%, for 91 to 120 days the rate stands at 4.25% and it is 5.25% for 181 to 210 days. Further, the rate for 211 to 269 days is 5.50%, for 270 days to 364 days it is 5.75% and stands at 6.50% for 1 to 5 years. Further, the rate for long tenure of 5 to 10 years stands at 6.25%.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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