Interest Calculator On FD Axis Bank

Fixed Deposit Formula:

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

Principal Amount (P):

INR

Annual Interest Rate (R):

Time Period (T):

years

Compounding Frequency (n):

Maturity Amount (A):

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1. What is the Axis Bank FD Calculator?

The Axis Bank Fixed Deposit Calculator helps you estimate the maturity amount of your fixed deposit investment using the compound interest formula. It provides an accurate projection of your returns based on principal amount, interest rate, tenure, and compounding frequency.

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 (INR)
\( P \) — Principal amount (INR)
\( R \) — Annual interest rate (decimal)
\( n \) — Compounding frequency per year
\( T \) — Time period in years

Explanation: The formula calculates how your investment grows over time with compound interest, where interest is added to the principal at regular intervals.

3. Importance of FD Calculation

Details: Accurate FD calculation helps in financial planning, comparing investment options, and understanding how compounding can significantly increase your returns over time.

4. Using the Calculator

Tips: Enter principal amount in INR, annual interest rate as percentage, time period 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 for regular customers.

Q2: Are FD interest rates fixed or variable?
A: Fixed deposit interest rates are generally fixed for the entire tenure at the time of investment.

Q3: How is interest taxed in Axis Bank FDs?
A: Interest earned on fixed deposits is taxable as per your income tax slab. TDS is deducted if interest exceeds ₹40,000 (₹50,000 for senior citizens).

Q4: Can I withdraw my FD before maturity?
A: Yes, but premature withdrawal may attract penalty charges and the interest rate may be revised to the applicable rate at the time of withdrawal.

Q5: What are the compounding options available?
A: Axis Bank offers various compounding frequencies including monthly, quarterly, half-yearly, and annual compounding.