Fixed Deposit Calculator FAQs
What is Fixed Deposit?
A Fixed Deposit (FD) is a financial instrument offered by banks and non-banking financial companies, allowing investors to invest their funds for a fixed time and earn returns at a fixed interest rate. The interest rate remains unaffected by market fluctuations and assures guaranteed returns on maturity.
How do we use the Fixed Deposit (FD) Calculator?
A Fixed Deposit (FD) calculator can be used to determine the interest and the amount you will get at the time of maturity. Using the fixed deposit calculator is a simple process. You need to enter your investment amount and the required tenure of FD in years and months. The applicable interest rate, interest amount, maturity amount, and maturity date will be displayed to the customer.
How to calculate Fixed Deposit (FD) maturity amount?
You can use the FD calculator to calculate the amount you will get upon maturity of the fixed deposit. You need to enter your investment amount and the required tenure of FD in years and months. The applicable interest rate, interest amount, maturity amount, and maturity date will be displayed to the customer.
How is the interest amount on Fixed Deposit (FD) calculated?
The interest rate on a fixed deposit is calculated based on the tenure and prevailing interest rate applicable at the time of opening the fixed deposit. The interest rate and the subsequent interest amount varies basis tenure There are two methods to calculate interest on a fixed deposit – Simple Interest (SI) and Compound Interest (CI).
What is IndusInd Bank Fixed Deposit (FD) interest calculator?
IndusInd Bank Fixed Deposit (FD) interest calculator is a tool to help customers determine the interest they would earn based on the investment amount, tenure and prevailing interest rate.
What is the interest rate on Fixed Deposit (FD) for senior citizens?
The interest rates applicable on IndusInd Bank Fixed Deposit for senior citizens can be seen here.
How does IndusInd Online Fixed Deposit work?
IndusInd Online Fixed Deposit can be opened instantly. Just follow the below 3 simple steps:
Step 1 – Visit www.IndusInd.com and fill up the online application.
Step 2 – Check the suitable Fixed Deposit type and authenticate your-self
Step 3–Complete the application and transfer fund online for deposit creationYour online fixed deposit will be created and you will receive a copy of the deposit details.
What are the ways of funding an Online Fixed Deposit account? When will the money get credited to my fixed deposit account?
To open online fixed deposit account, you can pull funds from other bank accounts via Netbanking, UPI and debit card. If you are an existing account holder in IndusInd Bank, you use net banking to book an online fixed deposit.
Do I need to be an IndusInd Bank account holder to open Fixed Deposit?
To open fixed deposit, one doesn’t need to be an IndusInd Bank account holder. The fixed deposit facility is available to both customers and non-customers of the bank. If you are a non-customer, you need to submit soft copies of Aadhaar number and PAN card to open fixed deposit in the bank.
Do I need to provide any documents for IndusInd Fixed Deposit?
If you are an existing customer of IndusInd Bank, there’s no need to provide any documents to open a fixed deposit account. For new customers, it is mandatory to validate themselves with Aadhaar number, OTP and PAN details. The entire process is online and you don’t need to deposit any hard copy of the validating proofs.
Can Online Fixed Deposit account be opened in the name of a Minor?
No, an online fixed deposit cannot be opened by a minor. However, as per RBI, a fixed deposit can be opened by a minor of any age through their natural or lawfully appointed guardian.
What is IndusInd Bank Fixed Deposit (FD) interest calculator?
IndusInd Bank provides a tool to help investors calculate the return on investment when they invest in a fixed deposit. The FD interest calculator provided by IndusInd Bank will help depositors calculate the returns on their investment based on the amount, tenure and prevailing interest rate.
Who are eligible to open IndusInd Online Fixed Deposit account?
To open an online fixed deposit with IndusInd Bank, you need to meet the following criteria:
• Should be a citizen of India
• Should be more than 18 years
• Should have a valid KYC documents such as PAN and AadharIs this facility available for existing customers?
Yes, the online fixed deposit account is available for existing customers. In fact, customers already having an account can easily open an online fixed deposit using their internet banking or mobile banking app.
How can I redeem/withdraw the fixed deposits opened online?
Customers can redeem/withdraw their fixed deposit either online or offline. To withdraw the fixed deposit amount offline, customers need to visit the nearest IndusInd Bank branch. However, existing customers who opened an online fixed deposit account with IndusInd Bank can also withdraw the amount using IndusNet or IndusMobile Application.
What are the documents required for Fixed Deposit?
If you are an existing customer, you don’t need to furnish any documents to open a fixed deposit. However, if you don’t have an account, you will need to validate yourself. The validation process includes providing your Aadhaar number, PAN card details and an OTP that will be sent to your registered mobile number during the validation process. As this is an online fixed deposit account, you don’t need to provide FD documents.
