South Indian Bank FD Calculator
South Indian Bank Fixed Deposit Calculator 2020
South Indian Bank FDs have tenures ranging from 1 year 5 months 25 days to 1 year 5 months 25 days with maximum rate of interest of 5.90%. Interest rates for senior citizens are higher than the normal rates and ranges upto 6.40%.
| Tenure | Rates | Maturity Amount for ₹ 1 Lakh |
|---|---|---|
| 7 days to 45 days | 3.50% to 4.00% | ₹ 1,00,067 - ₹ 1,00,493 |
| 46 days to 90 days | 4.00% to 4.50% | ₹ 1,00,504 - ₹ 1,01,110 |
| 91 days | 5.20% to 5.70% | ₹ 1,01,296 - ₹ 1,01,421 |
| 92 days to 360 days | 5.20% to 5.70% | ₹ 1,01,311 - ₹ 1,05,741 |
| 361 days to 17 months 29 days | 5.70% to 6.20% | ₹ 1,05,757 - ₹ 1,09,644 |
| 18 months | 5.90% to 6.40% | ₹ 1,09,183 - ₹ 1,09,992 |
| 18 months 1 day to 10 years | 5.70% to 6.20% | ₹ 1,08,877 - ₹ 1,85,011 |
South Indian Bank Fixed Deposit Calculator
South Indian 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.
South Indian Bank Fixed Deposit Interest Calculator – Interest Payment Options
FD Maturity Calculator
The interest earned on a fixed deposit in South Indian Bank depends on the deposit amount, interest applicable, deposit tenure and the type of interest calculation frequency. Interest on South Indian Bank FD can be calculated monthly, quarterly, half-yearly and annually. The interest rates for senior citizens are higher than normal rates of South Indian Bank FD.
Suppose if you make an investment of ₹ 1,00,000 in South Indian 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 South Indian 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 | ||
South Indian 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 South Indian Bank FD.
A = P (1 + r/n) ^ n*t
In the above formula –
FAQs
✅What is the highest interest earned on South Indian Bank fixed deposit?
You can earn a maximum interest of 5.90% on South Indian Bank fixed deposit.
✅How is South Indian Bank FD interest calculated?
The formula to calculate interest on South Indian 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 South Indian Bank?
The growth of South Indian 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 South Indian 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 South Indian Bank.
✅What are the minimum and maximum amounts that I can invest in an South Indian Bank FD?
The minimum investment limit in South Indian Bank Fixed deposit account is ₹ 1,000 and there is no maximum investment limit on FD.
- 2020-02-21 : South Indian Bank revised FD rates
With effect from 21 February 2020, South Indian Bank revised its FD rates. The fixed deposit rate for 7 to 45 days is 4%, for 46 to 90 days it is 5.50% and it is 5.70% for 91 days. Fixed deposit rates for 92 to 180 days is 5.75%, for 181 days to less than 1 year is 6% and one year to less than 2 years is 6.40%. Further, the FD rate for two years is 6.55% and above two years to up to and including ten years is 6.40%. - 2019-11-26 : Revised Fixed Deposit rates by South Indian Bank
South Indian Bank revised its FD rates with effect from November 22, 2019. The new rate for 7-45 days is 4.00%; for 46-90 days, the rate is 5.50%; the rate for 91 days is 5.90%; it is 6.00% for 92-180 days, and for 181 days to 11 months 29 days the rate is 6.35%. For large tenure of 1-2 years, the rate is 6.60%; the rate for two years is 6.90%, and for 2-10 years the new rate is 6.60%. - 2019-11-07 : South Indian Bank revises deposits rates for November
South Indian Bank revised interest rates on fixed deposits. The new rates for 7-45 days are 4.00%, for 46-90 days the rate is 6.00%, the rate for 91 days is 6.10% for 92-180 days the rate is 6.50%, and for 181 days to less than a year, the rate is 6.35%. For a long period of 1 year to less than two years, the rate is 6.80%, the rate for two years is 7.05%, and for 2-10 years it is 6.80%. The rates have been in effect from November 1, 2019. - 2019-10-25 : South Indian Bank revised Fixed Deposits rates
South Indian Bank revised its interest rates on fixed deposits from October 19, 2019. The rate for 7-45 days is 4.00%; for 46-90 days, the rate is 6.00%, for 91 days the rate is 6.30%, it is 6.50% for 92-180 days, and for 181 to 364 days the rate is 6.35%. The interest rates for 1-2 years is 7.00%, for two years it is 7.15%, and for 2-10 years the rate is 7.00%. - 2019-10-03 : Revised FD rates for South Indian Bank
With effect from October 1, 2019, South Indian Bank has revised its rate on fixed deposits. The revised FD rate for a period of 7-45 days is 4.00%, for 46-90 days the rate is 6.00%, the interest rate for 91 days is 6.35%, the rate for 92-180 days is 6.50%, for 181 days to less than 1 year the revised interest rate is 6.35% and for 1 year the rate of interest is 6.90%. For longer tenures of more than one year to less than two years the rate is 7.05%, for two years it is 7.15%, and for two to ten years it is 7.00%.