FD Interest Rate Calculator Axis Bank

Fixed Deposit Formula:

\[ A = P \times (1 + r/n)^{n \times t} \]

Principal Amount (P):

₹

Annual Interest Rate (r):

Time (t):

years

Compounding Frequency (n):

Maturity Amount (A):

Total Interest Earned:

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1. What is the FD Interest Calculation Formula?

The compound interest formula calculates the maturity amount for fixed deposits. It takes into account the principal amount, annual interest rate, compounding frequency, and time period to determine the final amount you will receive.

2. How Does the Calculator Work?

The calculator uses the compound interest formula:

\[ A = P \times (1 + r/n)^{n \times t} \]

Where:

\( A \) — Maturity amount (₹)
\( P \) — Principal amount (₹)
\( r \) — Annual interest rate (decimal)
\( n \) — Compounding frequency per year
\( t \) — Time in years

Explanation: The formula calculates how your investment grows over time with compound interest, where interest is earned on both the principal and accumulated interest.

3. Importance of FD Interest Calculation

Details: Accurate FD interest calculation helps investors plan their finances, compare different investment options, and make informed decisions about their savings and investment strategies.

4. Using the Calculator

Tips: Enter principal amount in ₹, annual interest rate in percentage, time in years, and select compounding frequency. All values must be positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: What is the minimum investment for Axis Bank FD?
A: The minimum investment amount for Axis Bank fixed deposits is typically ₹5,000, but it's best to check current terms with the bank.

Q2: How often does Axis Bank compound interest?
A: Axis Bank offers various compounding options including quarterly, half-yearly, and annual compounding, depending on the FD scheme.

Q3: Are FD interest rates fixed or variable?
A: Fixed deposit interest rates are generally fixed for the entire tenure once the deposit is made.

Q4: What is TDS on FD interest?
A: Tax Deducted at Source (TDS) is applicable on FD interest income if it exceeds ₹40,000 (₹50,000 for senior citizens) in a financial year.

Q5: Can I withdraw my FD before maturity?
A: Yes, but premature withdrawal may attract penalties and the interest rate may be revised to the rate applicable for the period the deposit was held.