Karnataka Bank FD Calculator
Karnataka Bank Fixed Deposit Calculator 2021
Karnataka Bank FDs have tenures ranging from 5 years 1 day to 10 years with maximum rate of interest of 5.70%. Interest rates for senior citizens are higher than the normal rates and ranges upto 6.95%.
| Tenure | Rates | Maturity Amount for ₹ 1 Lakh |
|---|---|---|
| 7 days to 45 days | 3.40% to 3.80% | ₹ 1,00,065 - ₹ 1,00,468 |
| 46 days to 90 days | 4.90% to 5.30% | ₹ 1,00,618 - ₹ 1,01,307 |
| 91 days to 180 days | 5.20% to 5.60% | ₹ 1,01,296 - ₹ 1,02,780 |
| 181 days to 364 days | 5.20% to 5.60% | ₹ 1,02,595 - ₹ 1,05,703 |
| 1 year to 2 years | 5.30% to 5.70% | ₹ 1,05,406 - ₹ 1,11,985 |
| 2 years 1 day to 5 years | 5.55% to 6.95% | ₹ 1,11,671 - ₹ 1,41,131 |
| 5 years 1 day to 10 years | 5.70% to 6.10% | ₹ 1,32,730 - ₹ 1,83,198 |
Karnataka Bank Fixed Deposit Calculator
Karnataka 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.
Karnataka Bank Fixed Deposit Interest Calculator – Interest Payment Options
FD Maturity Calculator
The interest earned on a fixed deposit in Karnataka Bank depends on the deposit amount, interest applicable, deposit tenure and the type of interest calculation frequency. Interest on Karnataka Bank FD can be calculated monthly, quarterly, half-yearly and annually. The interest rates for senior citizens are higher than normal rates of Karnataka Bank FD.
Suppose if you make an investment of ₹ 1,00,000 in Karnataka Bank FD for a 5-year tenure at an interest rate of 5.70% for depositors below 60 years and 6.95% for senior citizens. The maturity amount for this deposit amount is ₹ 1,32,709 and the total interest earned is ₹ 32,709 for below 60 years age citizens. However, the interest earned for senior citizens is ₹ 41,131 which is higher. The maturity schedule of Karnataka Bank FD for 5 years is explained below in the table –
Maturity Schedule for ₹ 1,00,000 FD at 5.70% for Citizens below 60 years and at 6.95% 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 | ₹ 5,823 | ₹ 1,05,823 | ₹ 7,133 | ₹ 1,07,133 | ||
| 2022 | ₹ 6,162 | ₹ 1,11,985 | ₹ 7,642 | ₹ 1,14,775 | ||
| 2023 | ₹ 6,521 | ₹ 1,18,506 | ₹ 8,187 | ₹ 1,22,962 | ||
| 2024 | ₹ 6,901 | ₹ 1,25,407 | ₹ 8,771 | ₹ 1,31,733 | ||
| 2025 | ₹ 7,302 | ₹ 1,32,709 | ₹ 9,397 | ₹ 1,41,130 | ||
Karnataka 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 Karnataka Bank FD.
A = P (1 + r/n) ^ n*t
In the above formula –
Other Investment Calculators
FAQs
✅What is the highest interest earned on Karnataka Bank fixed deposit?
You can earn a maximum interest of 5.70% on Karnataka Bank fixed deposit.
✅How is Karnataka Bank FD interest calculated?
The formula to calculate interest on Karnataka 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 Karnataka Bank?
The growth of Karnataka 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 Karnataka 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 Karnataka Bank.
✅What are the minimum and maximum amounts that I can invest in an Karnataka Bank FD?
The minimum investment limit in Karnataka Bank Fixed deposit account is ₹ 1,000 and there is no maximum investment limit on FD.
- 2021-01-18 : Karnataka Bank Q3 net profit rises to ₹135 cr
Karnataka Bank posted a net profit of Rs 135 crore for the December quarter of current financial year with a growth rate of 10%. Further, net interest income rose 21% to ₹614 crore from ₹508 crore in Q3FY20. - 2020-12-08 : Karnataka Bank changed its FD rates
With effect from 6 December 2020, Karnataka Bank changed its FD rates. The fixed deposit rate for 7 to 45 days is 3.40%, for 46 to 90 days is 4.90% and it stands at 5.20% for 91 to 364 days. Further, the fixed deposit rate for one to two years is 5.30%, above two years to 5 years is 5.55% and stands at 5.70% for above five years to 10 years. - 2020-03-20 : Karnataka Bank revised its FD rates
With effect from 18 March 2020, Karnataka Bank changed its FD rates. The fixed deposit rate for 7 to 45 days is 3.50%, for 46 to 90 days is 5% and it stands at 6% for 91 to 364 days. Further, the fixed deposit rate for one to two years is 6.25%, above two years to 5 years is 6.15% and stands at 6.05% for above five years to 10 years. - 2019-11-06 : Karnataka Bank revises Deposit rates
Karnataka Bank revised its interest rates on fixed deposits up to Rs 2 crores on November 5, 2019. New rates for 7-45 days is 3.50%, for 46-90 days, it is 5.00%, and the rate for 91-364 days is 6.25%. For 1-2 years, the rate is 6.80% for 2-5 years; the rate is 6.70%, and for 5-10 years, the revised interest rate is 6.50%. - 2019-11-01 : Karnataka Bank revises fixed deposit rates
With effect from October 31, 2019, Karnataka Bank revised its interest rates on fixed deposits up to Rs 2 crores. The revised rate for 7-45 days is 3.50%, for 46-90 days, the rate is 5.00%, and for 91-364 days, the rate is 6.25%. For larger tenure of 1-2 years, the rate is 6.90%, the rate for 2-5 years is 6.80%, and for 5-10 years, it is 6.50%. For senior citizens, the rate varies by 40 basis points.
