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Karur Vysya Bank FD Calculator

Karur Vysya Bank Fixed Deposit Calculator 2020

Last Updated 07th Sep 2020

Karur Vysya Bank FDs have tenures ranging from 3 years to 10 years with maximum rate of interest of 5.85%. Interest rates for senior citizens are higher than the normal rates and ranges upto 6.35%.

Tenure Rates Maturity Amount for ₹ 1 Lakh
7 days to 14 days 3.50% to 3.50% ₹ 1,00,067 - ₹ 1,00,134
15 days to 30 days 3.75% to 3.75% ₹ 1,00,154 - ₹ 1,00,308
31 days to 45 days 3.75% to 3.75% ₹ 1,00,318 - ₹ 1,00,462
46 days to 90 days 3.75% to 3.75% ₹ 1,00,473 - ₹ 1,00,925
Karur Vysya Bank FD Maturity Calculator
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Karur Vysya Bank Fixed Deposit Calculator

Karur Vysya 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 Karur Vysya Bank. Bank may allow higher interest rate on larger deposits. Karur Vysya 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. 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 5.85% for deposit amount below Rs. 1 crore corresponding to a deposit tenure of 3 years to 10 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 3.50% for a 3 years FD and a rate of 5.85% for a 10 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
    • Illustration: Mr. A opens a FD account of ₹ 1,00,000 with a tenure of 7 days at an interest rate of 3.50%. 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.

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

Karur Vysya Bank Fixed Deposit Interest Calculator – Interest Payment Options

  • 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.
  • 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.
  • Calculate the FD maturity amount using the FD calculator.

FD Maturity Calculator

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. The interest rates for senior citizens are higher than normal rates of Karur Vysya Bank FD.

Suppose if you make an investment of ₹ 1,00,000 in Karur Vysya 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 Karur Vysya 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

Karur Vysya 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 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

FAQs

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

You can earn a maximum interest of 5.85% on Karur Vysya Bank fixed deposit.

How is Karur Vysya Bank FD interest calculated?

The formula to calculate interest on Karur Vysya 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 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. 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 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.


Karur Vysya News - Sep 2020
  • 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.
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