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Introducing the First-in-industry IDFC FIRST Bank's Super Account
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You gain a dedicated partner committed to helping you reach your full potential and achieve new heights
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- Account for all Domestic businesses
- Account for Importers & Exporters
- Account for Start-ups
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- Account for Merchants
- Account for Agri Traders
- Account for Self-employed professionals
- Special Purpose Accounts e.g. SNRR, RERA, EEFC
BRAVO (Auto Sweep)
Convert the idle funds in your current account into a fixed deposit with the BRAVO feature.
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Make more than one online payment in just a few clicks with IDFC FIRST Bank Bulk Payments
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Earn more on your FD with up to 7.40% p.a. interest
Calculate Fixed Deposit returns
Fixed Deposit Calculator
Effective financial planning is important to secure your future, and Fixed Deposits are a preferred option for safe and assured returns. Before opening a Fixed Deposit, it is crucial to create a suitable plan for your investment and the returns you seek from it. While you can use manual methods to determine your returns, an FD Calculator can help you calculate your FD maturity value effortlessly without errors.
Read moreThe IDFC FIRST Bank FD Calculator serves as an invaluable tool to help you calculate the potential returns on your Fixed Deposit investments effortlessly. With a user-friendly interface, this FD Calculator allows you to enter parameters such as the deposit amount and tenure to determine the maturity amount in real time. Whether you are saving for a short-term goal or planning long-term investments, the IDFC FIRST Bank Fixed Deposit Calculator provides precise and quick calculations. Experience the convenience of understanding your investment growth in just a few clicks!
Read lessFeatures & Benefits of IDFC FIRST Bank FD Calculator
It can be used by anyone with computer or smartphone access.
It gives results within seconds.
The slider allows you to quickly see the results for varying inputs.
The calculator is easy to use, just fill in the FD amount and tenure in years or days.
Determine the approximate interest you will be eligible for at the end of the term and plan your budget accordingly.
With the FD Calculator, you can compare the maturity amount for varying tenures and payout frequencies offered by IDFC FIRST Bank to make the best choice.
The FD Calculator online is free to use.
Conclusion
If you are looking for a long-term investment solution with high returns, you can invest in FD after calculating the interest earned on the Fixed Deposit Calculator. FD schemes are excellent investment options for those who have surplus money and want to start investing.
Disclaimer
IDFC FIRST Bank does not guarantee accuracy, completeness or correct sequence of any of the details provided therein and therefore, no reliance should be placed by the user for any purpose whatsoever on the information contained / data generated herein or on its completeness / accuracy. The use of any information set out is entirely at the user's own risk. The user should exercise due care and caution (including if necessary, obtaining of advice of tax/ legal/ accounting/ financial/ other professionals) prior to taking of any decision, acting or omitting to act, on the basis of the information contained / data generated herein.
IDFC FIRST Bank does not undertake any liability or responsibility to update any data. No claim (whether in contract, tort (including negligence) or otherwise) shall arise out of or in connection with the services against IDFC FIRST Bank.
Neither IDFC FIRST Bank nor any of its agents or licensors or group companies shall be liable to user/ any third party, for any direct, indirect, incidental, special or consequential loss or damages (including, without limitation for loss of profit, business opportunity or loss of goodwill) whatsoever, whether in contract, tort, misrepresentation or otherwise arising from the use of these tools/ information contained / data generated herein.
FD Calculator Online - FAQs
What is a Fixed Deposit Calculator?
A Fixed Deposit Calculator is a free online tool that allows you to calculate the maturity amount and the interest accrued based on the deposit amount, tenure, and interest rate offered. The calculator works based on the mathematical formula that banks use to determine the interest amounts in a Fixed Deposit account and provides quick and precise results.
You can use IDFC FIRST Bank's user-friendly FD Calculator online to find a Fixed Deposit plan that suits your needs.
How do we use the Fixed Deposit Calculator?
IDFC FIRST Bank’s FD Calculator helps you calculate the interest and the maturity amount. The tool has input fields that must be filled in for the result to appear. Follow these steps to use the FD Calculator:
1. Choose the deposit amount and type of deposit. There are four options to choose from - short-term, reinvestment, quarterly payout, or monthly payout. You can opt for the one you prefer.
2. Fill in the tenure: years or months or days, or use the slider to select the same.
3. Tick "I am a senior citizen" in case your age is more than 60 years. For a senior citizen, the effective interest rate is higher by 0.50 percent for FDs less than ₹3 Crore.
4. The FD amount with interest will be calculated instantly.
How to calculate the Fixed Deposit maturity amount?
You don’t have to use any mathematical formula for this; instead, you can visit the IDFC FIRST Bank website and use the Fixed Deposit Calculator by providing the inputs such as the type of FD, deposit amount, and tenure, whether it is for a short-term or long-term (over 180 days). Once the details have been filled out properly, the maturity amount will be displayed. The annual interest rate is updated automatically.
What is the minimum amount required to open an FD account with a bank?
The minimum amount required to open an FD with IDFC FIRST Bank is ₹ 10,000.
How long can the minimum tenure be for a Bank Fixed Deposit?
The minimum tenure for a Fixed Deposit is 7 days.
Which forms should I submit to avoid Tax Deduction at Source?
Senior citizens can submit Form 15H, while others can submit Form 15G to avoid the deduction of TDS on income earned on a Fixed Deposit.
Is there a penalty if the Bank FD is prematurely withdrawn?
The FD can be withdrawn prematurely, but a penalty may be levied as per the Bank’s policy. If you want to withdraw partially, the penalty will be subject to ‘Premature Closure Penalty’ as decided by IDFC FIRST Bank on the date of opening a deposit.
Penalty for premature closure of Fixed Deposit would be at 1%. No penalty on premature closure of Fixed Deposits of Senior Citizens opened for less than ₹3 Crore.
Which factors affect Fixed Deposit interest rates?
Fixed Deposits offer guaranteed returns and generally, the interest rates promised at the time of account opening remain the same throughout the tenure. The rates are decided by the bank based on multiple factors, including:
- Repo rates
- Inflation
- Investment tenure
- Investment profile (senior or non-senior citizen)
- Type of FD (cumulative or non-cumulative)
What is the interest rate on FDs for senior citizens?
Fixed Deposit accounts offer higher interest rates for senior citizens. The rates may vary depending on the type of FD and the bank. IDFC FIRST Bank offers an additional 0.5% interest rate on its FD accounts for senior citizens opened for less than ₹3 Crore.
Is the FD interest rate paid monthly?
Yes, customers can choose to receive interest on a monthly basis. However, in case of monthly payouts, interest is calculated for the quarter and paid monthly at a discounted value.
What is a Fixed Deposit?
A Fixed Deposit (FD) is a financial instrument provided by banks where you can deposit a lump sum amount for a fixed tenure at a predetermined interest rate. It offers a secure way to grow your savings with guaranteed returns. At the end of the tenure, you receive the principal amount along with the accumulated interest.
What are the key benefits of a Fixed Deposit?
- Guaranteed returns: FDs offer assured returns at a fixed interest rate, unaffected by market fluctuations.
- Capital protection: Your principal amount remains safe and secured.
- Flexible tenures: Choose from a variety of tenures ranging from a few days to several years.
- Tax benefits: Certain FDs are eligible for tax deductions under Section 80C of the Income Tax Act.
- Higher interest rates: Senior citizens can avail higher interest rates on their deposits.
- Loan facility: You can avail loans against your FD without breaking the deposit.
What are the limitations of a Fixed Deposit?
- Liquidity constraints: Premature withdrawals may result in penalties and reduced interest rates.
- Inflation impact: Fixed returns might not always keep up with inflation, potentially reducing real returns over time.
- Lower returns compared to other investments: FDs typically offer lower returns compared to equity or mutual fund investments.
- Taxable interest: Interest earned on FDs is taxable, which can impact overall returns.
What are the types of Fixed Deposits offered by IDFC FIRST Bank?
- Standard Fixed Deposit: This is a regular FD where you deposit a lump sum for a fixed tenure at a predetermined interest rate. It offers flexible tenures and attractive interest rates.
- Senior Citizen Fixed Deposit: Tailored specifically for individuals above 60 years of age, this FD provides higher interest rates, ensuring better returns on your savings.
- Flexi Fixed Deposit: This FD combines the benefits of a Savings Account and a Fixed Deposit. You can link your Savings Account to the FD, allowing automatic transfer of surplus funds to the FD and ensuring higher returns while maintaining liquidity.
