ICICI Fixed Deposit (FD) Calculator

ICICI FD Calculator: Quickly calculate your ICICI Bank Fixed Deposit maturity amount. Plan your investments & estimate returns with our easy-to-use FD calculator.

FD Calculator

₹1,00,000
6.5%
5.0 Yrs

ICICI Bank is one of the leading Banking Companies in India. In addition to mobilizing savings from various sources, it provides multiple financial products & services in the economy. It also inspires people to cultivate a culture of saving. To promote this objective, ICICI also presents fixed deposits for those who wish to invest their money securely without exposing themselves to market risks.

The bank also offers short-term & long-term fixed deposits with very attractive interest rates. ICICI offers a fixed deposit calculator to help customers determine the returns on these investments. The calculator will help individuals understand the profitability of fixed deposits and alleviate the burden of making an informed decision.

How will the ICICI FD calculator assist you?

ICICI fixed deposit interest rates are flexible and depend on the investment tenure or term. In order to simplify things and save time, the ICICI fixed deposit calculator provides various important benefits, including:

  • Sparing you time and effort.
  • Offering a correct computation of the accumulated interest as well as maturity amount.
  • Enabling simultaneous comparison of returns for both short-term and long-term investments.

ICICI Bank Fixed Deposit Formula

ICICI Banks fixed deposit calculator computes the amount at maturity based on the formula:

A is indeed equal to P(1 + r/n)^n*t.

Where:

  • A is the amount at maturity.
  • P represents the amount invested.
  • r is the yearly interest rate.
  • n is how many times an interest is compounded yearly.
  • t is the investment duration in years.

For instance, Riya invested Rs. 10,000 in an ICICI FD for 4 years with an annual interest rate of 6.9% compounded annually. The values are as follows:

  • P = 10,000
  • r = 6.9%
  • n = 1
  • t = 4

Using the formula:

A = P (1 + r/n) ^ nt

= 10,000 (1 + 6.9%/1) ^ 14 Equals 13147

So, the value Riya would get at maturity is Rs. 13147, and she would have earned an interest of Rs. 3,147. You can calculate this quite simply with the ICICI Banks FD calculator.

Benefits of ICICI Bank FD calculator

Using an ICICI Bank FD calculator presents various benefits to an individual, such as:

  • Its intuitive nature makes it very simple to use.
  • It makes investment portfolio planning possible with speed and convenience.
  • Taxpayers are correctly able to calculate the amount of TDS deducted at maturity.

Simply put, the ICICI FD Calculator helps make quick calculations of returns from the scheme, making it way easier indeed. Also keeps a fair view of his financials and investment plans.

Calculate your ICICI Fixed Deposit returns easily!

1. Is the ICICI FD calculator free?

Yes, the ICICI FD calculator is available for free use.

2. What is the maximum and minimum limit for investing in an ICICI FD?

You can invest in an ICICI FD with a minimum amount of Rs. 1,000. There is no limit on the maximum amount you can invest.

3. Can I withdraw my ICICI Bank FD prematurely?

Yes, ICICI Bank FD holders can withdraw their fixed deposits prematurely. In such cases, they will be liable for a penalty.

4. What is the penalty charge for withdrawing an ICICI FD before its maturity?

All those with a fixed deposit (FD) will incur an action penalty if the deposit has been held with the financial institution for a certain period. For deposits in hand for less than 1 year, a penalty shall be levied at the rate of 0.50%. The penalty will rise to 1% for deposits held between 1 and 5 years; nevertheless, the penalty rate increases to 1.5% for investments exceeding Rs. 5 Crore.