ING Vysya Bank FD Calculator
FD Calculator ING Vysya Bank in India Jul 2017
ING Vysya Bank Fixed Deposit Calculator
ING Vysya Bank, a leading Private Bank in India offers attractive interest rates upto % on its fixed deposits.
FD maturity amount that you will get depends upon
- Deposit amount
- Rate of interest
- FD tenure
- Compounding frequency
- TDS applicability and TDS rate
ING Vysya Bank Fixed Deposit Interest Calculator
- In a periodic interest payout option, ING Vysya 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 ING Vysya 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.
Tax on Fixed Deposit ING Vysya
- In case the interest earned by you across all your fixed deposits across all branches of ING Vysya Bank in a year exceeds 10,000, the bank must deduct TDS at 10.3%. In case your IT PAN is not updated in the ING Vysya Bank records, it must deduct twice the TDS at 20.6%. So, do remember to update your PAN on your FD.
- Sorry, but we aren’t done with tax yet. This was only the TDS. Now, you would need to add the interest income on all your ING Vysya Bank FD’s and other FD’s to your taxable income for the year. Based upon your tax bracket, income tax is payable on this income. Remember that you must estimate the interest income and all your other incomes and, based on this, pay advance tax on advance tax payment dates (15th Sep, 15th Dec, 15th March and 31st March).
- ING Vysya Bank will also issue you a Form 16A giving details of tax deducted on FD interest and tax deposited by it with government treasury. The TDS amount deposited by the bank with Income Tax Department can be verified in your 26AS statement available online on IT department website or through your net banking account. You can claim credit for the TDS amount in your annual Income Tax Return.
ING Vysya Bank FD interest rate calculator – Check your city
- Keep your KYC documents - PAN card, address proof and photo ready.
- To know more or apply, contact any of the branches of ING Vysya Bank in your city
Frequently Asked Questions on FD Calculator ING Vysya Bank
What is the highest interest earned on ING Vysya Bank fixed deposit?
You can earn a maximum interest of % on ING Vysya Bank fixed deposit.
Are there any extra benefits for senior citizens on fixed deposit of ING Vysya Bank?
Yes, senior citizens get extra benefit of % interest rates on their FD in ING Vysya Bank.