IndusInd Bank Fixed Deposit Calculator

When it comes to fixed deposits, IndusInd Bank stands out with its attractive offerings. Established in 1994, the bank offers FD schemes with flexible tenures and competitive returns. Currently, they provide a maximum return of 7.99% on deposits held between 1 year 4 months and less than 1 year 6 months—a great option for guaranteed growth. 

To make the process even easier, the IndusInd Bank fixed deposit calculator helps you easily calculate your returns. This simple tool ensures that you can plan your investments with confidence and precision.

Scroll to learn more about how the IndusInd Bank’s FD calculator works, its benefits and how you can use it to plan your investments effectively.

How to Use an IndusInd Bank Fixed Deposit Calculator?

Using the IndusInd Bank FD rates calculator through Stable Money is quick and straightforward. You just need to follow these easy steps:

Step 1: Input the Principal Amount

Enter the amount you wish to invest in your selected IndusInd Bank FD scheme. The minimum deposit amount required for opening an FD is ₹1,000.

Step 2: Set the Interest Rate

Under the 'Rate of Interest' section, either input the applicable FD rate or use the slider to adjust it. Ensure you select the interest rate valid on the day of deposit for the specific scheme and tenure you choose.

Step 3: Select the Investment Tenure

In the 'Time Period' field, specify the desired FD duration. You can either type in the number of years or adjust the slider to choose the tenure that suits your needs.

Step 4: Choose Compounding Frequency

Specify how often you want the interest to be compounded whether yearly, half-yearly or quarterly. This selection impacts the final maturity value of your investment.

Once all the details are filled in, the calculator will instantly display the interest earnings and the maturity amount.

IndusInd Bank Fixed Deposit Calculator Example

Suppose you want to invest ₹20,000 in an IndusInd Bank FD at an annual interest rate of 7.5% for a tenure of 5 years, with yearly compounding frequency. Entering these details in the IndusInd Bank FD calculator of Stable Money, you will get your maturity amount as ₹28,713 and your total interest earned will be ₹8,713.

What Is the Formula Used in IndusInd Bank FD Interest  Calculator?

The returns on your IndusInd Bank fixed deposit and the maturity value are determined by banks using two primary methods - the simple interest and compound interest methods.

Let us explore both approaches in detail, along with an example for better understanding.

Simple Interest Method

This method calculates interest on a fixed deposit based on the principal amount, tenure and applicable interest rate. IndusInd Bank uses this method for calculating maturity value if the tenure is less than 181 days. The formula is:

Simple Interest = (P × R × T) / 100

Where:

• SI = Simple Interest
• P = Principal deposit amount
• R = Interest rate applicable on the deposit date
• T = Deposit tenure

Suppose you invest ₹50,000 in an IndusInd Bank fixed deposit scheme for a tenure of 3 years with an interest rate of 6.00% per annum. Using the formula, the calculated interest and maturity amount are as follows:

Simple Interest = (50,000 × 6 × 3) / 100 = ₹9,000

Thu, the maturity amount is = ₹50,000 + ₹9,000 = ₹59,000

Compound Interest Method

Compound interest is calculated not just on the initial principal amount but also on the interest accrued over time. In simple terms, it is interest on interest, which allows the invested amount to grow significantly, especially for longer durations.

The formula to determine the maturity value and interest using the compound interest method is:

A = P (1 + r/n) ^ (n × t)

Where:

• A = Maturity Value
• P = Principal Amount
• r = Rate of Interest
• t = Tenure of the Fixed Deposit
• n = Number of times interest is compounded in a year

Suppose you invest ₹20,000 in an IndusInd Bank fixed deposit scheme for a tenure of 3 years, with an interest rate of 7.00%. The interest is compounded quarterly (n = 4).

Using the formula:

• P = ₹20,000
• r = 7.00% 
• t = 3 years
• n = 4 (quarterly compounding)

Maturity Value = ₹20,000 (1 + 0.07/4) ^ (4 × 3)
Maturity Value = ₹24,628.79

The interest earned will be -
Interest = Maturity Value - Principal Amount
Interest = ₹24,628.79 - ₹20,000
Interest = ₹4,628.79

Thus, your investment of ₹20,000 in the IndusInd Bank FD scheme will grow to ₹24,628.79, earning ₹4,628.79 in interest over 3 years.

What Is the Benefit of Using IndusInd Bank Fixed Deposit Calculator?

The IndusInd FD calculator available through Stable Money is a handy tool that helps you plan your fixed deposit investments effectively. By providing clear insights into potential returns based on your investment preferences, it supports better financial planning. Here are the key benefits:

• Accurate Planning: It provides precise estimates of your FD returns based on the deposit amount, tenure and interest rate. This accuracy helps you plan your investments and future expenses more efficiently.
• Quick Results: Manually calculating FD returns for different amounts and tenures can be tedious and prone to mistakes. The IndusInd Bank fixed deposit calculator simplifies this process by delivering instant and error-free results.
• Easy Comparisons: With this tool, you can try out different deposit amounts and tenures to compare returns. This flexibility allows you to choose the best option that suits your financial goals and time frame.
• Convenient and Free: You can access this FD calculator of IndusInd Bank via Stable Money anytime, from anywhere, without any cost. It makes exploring fixed deposit opportunities easy and hassle-free.

The IndusInd Bank fixed deposit calculator simplifies investment planning by offering accurate and instant results. It helps you compare tenures and amounts effortlessly, ensuring well-informed decisions for your financial goals. So, use this free tool on Stable Money to explore fixed deposit opportunities and maximise your returns today.