IDFC Bank Fixed Deposit Calculator

IDFC Bank fixed deposit calculator is an online tool to help fixed deposit (FD) investors plan their finances. Using the Stable Money FD calculator can help you calculate the FD returns for IDFC First Bank as well as other banks that offer up to 9.50% interest rate with Stable Money partnership. 

What Is an IDFC Bank Fixed Deposit Calculator?

An IDFC FD calculator is an easy-to-use digital tool available free of cost to individuals. You can use this tool to calculate your FD returns and maturity amount (summation of FD principal and interest receivable). 

The Stable Money IDFC fixed deposit calculator allows you to estimate your returns based on the tenure of the deposit and the applicable interest rate on the principal amount. You can derive accurate instant results with this calculator by incorporating the necessary details.

Check the latest IDFC Bank FD interest rates and calculate returns using the Stable Money FD Calculator!

How Does an IDFC Bank Fixed Deposit Calculator Work?

You need the following details to use an IDFC First Bank FD calculator on Stable Money:

1. Fixed Deposit Sum: You need to fill in the desired FD principal to get the maturity amount accurately.
2. Effective Interest Rate: You need to enter the applicable interest rate for your chosen tenure, based on the citizen type. Notably, IDFC Bank offers a 0.50% higher FD interest rate to senior citizens.
3. Tenure: The interest rate and maturity amount vary based on the tenure of the investment. Fill in the tenure that you want to book the FD for. 
4. Compounding Frequency: Compounding frequency is the interval wherein the interest gets added to the principal for further calculation. Choose the appropriate compounding frequency such as quarterly, yearly or half-yearly. 

Enter the correct details on the Stable Money FD calculator to get instant results!

How to Use an IDFC Bank Fixed Deposit Calculator? 

Here are the steps you need to follow to use the Stable Money IDFC bank fixed deposit calculator:

Step 1: Fill in the fixed deposit sum, interest rate (as applicable) and the investment tenure. 

Step 2: Choose the compounding frequency (Yearly/Half-yearly/Quarterly) from the drop-down list (as applicable).

Step 3: View the FD return and the total return (maturity amount) on the screen.

You can use this calculator multiple times whenever you need it, without any added cost.

Fill in the necessary details and check your FD maturity amount now!

Advantages of Using an IDFC Bank Fixed Deposit Calculator

You can reap the benefits mentioned below by using the Stable Money IDFC Bank fixed deposit calculator:

1. Instant and Accurate Results: This calculator provides instant results based on the entered details. The results are further error-free, enabling you to make financial plans aligned to your goals. 
2. No Cost Results: You can use the calculator more than once without any expenses while designing your budget plans. 
3. Flexible Access: You can access this calculator from any region in India at your convenience. This eliminates the need to visit the IDFC bank branch for assistance in calculating the FD maturity amount. 
4. Easy to Use: The calculator provides necessary instructions for the users to understand seamlessly. As a result, you can use it without any assistance from others. 

Formula to Calculate FD Maturity Amount Manually

If you want to calculate the FD maturity value manually, you can use the following compound interest formula:

A = P (1 + r / n) ^ (n * t) 

Here, A: FD maturity value; P: fixed deposit amount; r: interest rate per annum; n: compounding frequency; t: tenure in years

Consider the scenario mentioned below to understand the calculation using the above formula:

Mr M books an FD of ₹1,00,000 with IDFC First Bank at 7.90% per annum, for a 2-year tenure, compounded quarterly. Thus, Mr M will receive the following maturity amount:

Maturity Amount (A) = ₹1,00,000 (1 + (0.079/ 4)) ^ (4 * 2) = ₹1,16,936 (approximately)

Interest Receivable by Mr M = A - P = ₹1,16,936 - ₹1,00,000 = ₹16,936

Calculations using the compound interest formula can be erroneous and time-consuming.

Use the Stable Money IDFC Bank Fixed Deposit Calculator to avoid errors!

Why Should You Choose Stable Money to Open an FD?

Booking an FD with Stable Money’s partnered banks and NBFCs helps you earn a higher FD interest rate of up to 9.50%. You can choose from multiple financial institutions offering high interest rates. 

On opening the FD, you will receive an FD certificate from the financial institution as a document. Further, you do not have to open a savings account with the Stable Money-partnered banks to book an FD. 

Stable Money allows you to book multiple FDs facilitating FD laddering. In addition, your fixed deposits will be insured by DICGC (Deposit Insurance and Credit Guarantee) up to ₹5 lakh as per the Reserve Bank of India (RBI) guidelines. 

The online FD booking facility helps you manage your finances from any location without the need for paperwork.