South Indian Bank FD Calculator
South Indian Bank Fixed Deposit Calculator 2022
South Indian Bank FDs have tenures ranging from 5 years to 5 years with maximum rate of interest of 5.65%. Interest rates for senior citizens are higher than the normal rates and ranges upto 6.15%.
| Tenure | Interest Rate for General Public | Interest Rate for Senior Citizens | Max Maturity Amount per Lakh |
|---|---|---|---|
| 7 days to 45 days | 3.50% | 4.00% | ₹ 1,00,067 - ₹ 1,00,493 |
| 46 days to 90 days | 3.75% | 4.25% | ₹ 1,00,473 - ₹ 1,01,048 |
| 91 days to 364 days | 3.80% | 4.30% | ₹ 1,00,947 - ₹ 1,04,358 |
| 1 year to 2 years 364 days | 5.20% | 5.70% | ₹ 1,05,302 - ₹ 1,18,488 |
| 3 years to 4 years 364 days | 5.50% | 6.00% | ₹ 1,17,807 - ₹ 1,34,664 |
| 5 years | 5.65% | 6.15% | ₹ 1,32,382 - ₹ 1,35,684 |
| 5 years to 10 years | 5.50% | 6.00% | ₹ 1,31,407 - ₹ 1,81,402 |
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South Indian Bank Fixed Deposit Calculator
South Indian 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.
How to Use MyLoanCare FD Calculator
Here is a simple procedure to use MyLoanCare FD calculator:-
South Indian Bank Fixed Deposit Interest Rate Calculator – Interest Payment Options
How is South Indian Bank FD Rate Calculated?
South Indian 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.
South Indian Bank FD Maturity Calculation for 5 Year
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.
Let’s understand how much interest you will earn if you invest ₹ 1,00,000 in South Indian Bank FD for a 5-year tenure at an interest rate of 5.65% for depositors below 60 years and 6.15% for senior citizens.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 5.65% for Citizens below 60 years and at 6.15% 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 | ₹ 5,771 | ₹ 1,05,771 | ₹ 6,293 | ₹ 1,06,293 | ||
| 2023 | ₹ 6,104 | ₹ 1,11,875 | ₹ 6,689 | ₹ 1,12,982 | ||
| 2024 | ₹ 6,456 | ₹ 1,18,331 | ₹ 7,110 | ₹ 1,20,092 | ||
| 2025 | ₹ 6,829 | ₹ 1,25,160 | ₹ 7,558 | ₹ 1,27,650 | ||
| 2026 | ₹ 7,223 | ₹ 1,32,383 | ₹ 8,033 | ₹ 1,35,683 | ||
South Indian 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 South Indian Bank FD.
A = P (1 + r/n) ^ n*t
In the above formula –
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FAQs
✅What is the highest interest earned on South Indian Bank fixed deposit?
You can earn a maximum interest of 5.65% on South Indian Bank fixed deposits.
✅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.You can also use South Indian 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 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.
✅Can I withdraw my premature FD from South Indian 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 0.50% for deposits upto Rs. 15 lakh and 1% for deposits above Rs. 15 lakh of FD amount for premature withdrawal.
✅How can I calculate South Indian Bank premature FD amount?
To calculate premature FD amount you can use South Indian 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).
- 2021-05-21 : South Indian Bank posts net profit of nearly ₹7 crores in Q4
South Indian Bank reported a net profit of Rs 6.79 crore for the fourth quarter of FY21, against a loss of Rs 143.69 crore in the year-ago period. For the whole FY21, the bank has reported a net profit of Rs 61.91 crore backed by Retail advances which include home, LAP, personal, two-wheeler, car, gold, education and doctor loan. The total deposit base at the end of the March quarter is seen higher by 9% y-o-y at Rs 69,827 crore, while advances declined by 9% to Rs 59,418 crore. - 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%.
