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Karur Vysya FD Calculator

Karur Vysya Bank Fixed Deposit Calculator 2022

Last Updated 09th Dec 2021

Karur Vysya Bank FDs have tenures ranging from 5 years to 5 years with maximum rate of interest of 5.60%. Interest rates for senior citizens are higher than the normal rates and ranges upto 6.10%.

Tenure Interest Rate for General Public Interest Rate for Senior Citizens Max Maturity Amount per Lakh
7 days to 14 days 3.25% 3.50% ₹ 1,00,062 - ₹ 1,00,134
15 days to 30 days 3.25% 3.75% ₹ 1,00,134 - ₹ 1,00,308
31 days to 45 days 3.25% 3.75% ₹ 1,00,276 - ₹ 1,00,462
46 days to 90 days 3.25% 3.75% ₹ 1,00,410 - ₹ 1,00,925
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Karur Vysya Bank Fixed Deposit Calculator

Karur Vysya 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 Karur Vysya Bank. Banks may allow a higher interest rate on larger deposits. Karur Vysya 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. Karur Vysya 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 Karur Vysya Bank is 5.60% for deposit amount below Rs. 1 crore corresponding to a deposit tenure of 5 years to 5 years.
  • 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 5 years FD and a rate of 5.60% for a 5 years 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 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.

      Karur Vysya 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

Karur Vysya Bank Fixed Deposit Interest Rate Calculator – Interest Payment Options

  • Non Cumulative- In a periodic interest payout option, Karur 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.
  • Cumulative- In case you opt for a Karur Vysya Bank cumulative deposit on maturity you would get a credit for the principal and interest earned net of TDS.

How is Karur Vysya Bank FD Rate Calculated?

Karur Vysya 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.

Karur Vysya Bank FD Maturity Calculation for 5 Year

The interest earned on a fixed deposit in Karur Vysya Bank depends on the deposit amount, interest applicable, deposit tenure and the type of interest calculation frequency. Interest on Karur Vysya 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 Karur Vysya Bank FD for a 5-year tenure at an interest rate of 5.60% for depositors below 60 years and 6.10% for senior citizens.The maturity schedule of Karur Vysya Bank FD for 5 years is explained below in the table –

Maturity Schedule for ₹ 1,00,000 FD at 5.60% for Citizens below 60 years and at 6.10% 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 ₹ 5,719 ₹ 1,05,719 ₹ 6,241 ₹ 1,06,241
2023 ₹ 6,046 ₹ 1,11,765 ₹ 6,630 ₹ 1,12,871
2024 ₹ 6,392 ₹ 1,18,157 ₹ 7,044 ₹ 1,19,915
2025 ₹ 6,757 ₹ 1,24,914 ₹ 7,484 ₹ 1,27,399
2026 ₹ 7,143 ₹ 1,32,057 ₹ 7,951 ₹ 1,35,350

Karur Vysya 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 Karur Vysya 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

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What is the highest interest earned on Karur Vysya Bank fixed deposit?

You can earn a maximum interest of 5.60% on Karur Vysya Bank fixed deposits.

How many years FD will double in Karur Vysya Bank?

The growth of Karur Vysya 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 Karur Vysya Bank FD.You can also use Karur Vysya 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 Karur Vysya Bank.

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

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

Can I withdraw my premature FD from Karur Vysya 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% for deposits above Rs. 1 crore of FD amount for premature withdrawal.

How can I calculate Karur Vysya Bank premature FD amount?

To calculate premature FD amount you can use Karur Vysya 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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Karur Vysya News - Jan 2022
  • 2021-07-09 : Karur Vysya Bank changed its FD rates
    With effect from 08th July 2021, Karur Vysya Bank has revised its FD interest rates. As per the revised rates, the rate of interest for a tenure of 7 days to 90 days, the rate is 3.25%; the rate for 91 days to 120 days stands at 3.50% and for 121 days to 180 days, the revised rate is 3.75%. The rates for 181 to 270 days stands at 4%, while the rates for a longer tenure, 271 days to less than 1 year is 4.25%. The rate for above 1 year to less than 2 years is 5.25% and the rate for 2 years to less than 5 years is 5.50%. The rate for the longest tenure of 5 years and above stands at 5.75%.
  • 2021-06-01 : Karur Vysya Bank posted 24% growth in Q4 net
    Karur Vysya Bank posted a 24% rise in its net profit at Rs 104 crore in the last quarter of the fiscal ended March 2021. The profit was boosted by retail loans home, LAP, personal, two-wheeler, car education and doctor loan along with business and mudra loan. The lender credit growth during the year was higher at 8.87% and gross advances reached Rs 52,820 crore.
  • 2020-07-08 : Karur Vyas Bank revised FD rates
    Karur Vyas Bank changed its fixed deposit rates. The FD rates for 7 to 14 days is 3.50%, it is 3.75% for 15 to 90 days and stands at 4.75% for 91 to 270 days. The Fixed deposit rates is 5% for 271 to 364 days and stand at 5.70% for one year to less than 2 years. Further, the FD rates for the long tenors of 2 years to three years and above is 5.85%. The revised rates are in effect from 8 June 2020.
  • 2020-05-14 : Karur Vyas Bank revised FD rates
    Karur Vyas Bank changed its fixed deposit rates. The FD rates for 7 to 14 days is 4.15%, it is 4.40% for 15 to 30 days and stands at 4.65% for 31 to 45 days. The Fixed deposit rates for 46 to 90 days is 4.90%, it is 5.65% for 91 to less than one year and stands at 6% for one year to less than 2 years. Further, the FD rates for the long tenors of 2 years to three years and above is 6.05%. The revised rates are in effect from 11 May 2020.
  • 2019-01-16 : Karur Vysya Bank revises interest rate on fixed deposits by 50 basis points
    Karur Vysya Bank (KVB) has revised the interest rate of fixed deposits on January 7, 2019. The interest rates have been hiked for fixed deposits less than Rs. 1 crore only. Interest rate of fixed deposit with 7 to 14 days period has been hiked to 5.00%. While the rates for 1 year have been hiked to 7.25%, while the rates for senior citizens now stands at 7.75% respectively.
*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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