Suryoday Small Finance Bank FD Calculator

Suryoday Small Finance Bank is one of the prominent Indian banks that offer competitive interest rates to regular and senior citizens. Depositors can use the Suryoday Small Finance Bank FD calculator via Stable Money to determine the maturity value and plan their financial goals. Estimates from these calculators are, however, based on the details entered such as tenure, amount and citizen type.

What Is a Suryoday Small Finance Bank FD Calculator?

Fixed deposit calculators are free-of-charge digital tools that enable depositors to estimate their maturity value. As a depositor, you need to enter the fixed deposit amount, interest rate and tenure to get maturity value estimation using the calculator. A Suryoday Small Finance Bank FD calculator helps depositors calculate their FD maturity amount for Suryoday SF Bank FDs. This calculator can further present results based on the depositor's category as a senior or regular citizen.

Working of a Suryoday Small Finance Bank FD Calculator

A Suryoday SF Bank calculator asks the user to fill in details like tenure in years and months, amount, interest rate and citizen type. Based on the details entered by the depositor, the calculator provides the FD maturity amount. To ensure accuracy, you can use the Stable Money app to calculate the FD maturity amount for Suryoday SF Bank FD.

Steps to Use a Suryoday Small Finance Bank FD Calculator

Here are the steps to use the Suryoday SF Bank FD calculator:

Step 1: Enter the amount you want to invest in a Suryoday SF Bank FD scheme.

Step 2: Mention the rate of interest offered by the bank.

Step 3: Fill in the tenure in years and months (as applicable).

Step 4: Choose the compounding frequency.

The screen will show the maturity amount and interest earned automatically.

How Does a Suryoday Small Finance Bank FD Calculator Help?

Here is how a Suryoday SF Bank calculator helps its users:

Error-free Results: Using this calculator eliminates manual errors while presenting accurate results for FD maturity estimates.
Less Time-Consuming: These calculators can provide results within a short period, enabling users to save time in calculation.
Convenient to Use: Users can use these calculators from any place at any time provided they have access to the internet.
Financial Planning: Using these calculators can help depositors make effective financial plans for the future based on the FD maturity amount they would receive.
Cost-Effectiveness: Stable Money offers these calculators free of cost to users for accurate estimation. As a result, you can use this calculator without additional costs.

Download the Stable Money App now to use the Suryoday Bank FD calculator free of cost!

Manual Calculation of FD Maturity Amount

To manually calculate the FD maturity amount, you need to use the formula mentioned below:

A = P * (1 + r/n) ^ n*t

A: Maturity Amount

P: Principal

r: Rate of Interest

t: Number of Years

n: Compounded Interest Frequency

Using the above formula, you can calculate the maturity amount if Mr Y books an FD of ₹1,00,000 with Suryoday SF Bank for 3 years at 8.60% per annum, compounded quarterly, considering Mr Y is a regular citizen.

Maturity Amount = ₹1,00,000 (1 + (0.086/ 4)) ^ (4 * 3) = ₹1,29,080 (approximately)

Interest earned = A - P = ₹1,29,080 - ₹1,00,000 = ₹29,080

Benefits of Choosing Stable Money for Suryoday Small Finance Bank FD

The Stable Money Suryoday Small Finance Bank FD Rates calculator helps depositors estimate the maturity value accurately. In addition to the user-friendly calculator, Stable Money enables seamless booking of Suryoday SF Bank FDs. This process eliminates paperwork, branch visits and the need to open a savings account to enjoy high FD interest rates up to 9.10%.