The Axis FD Calculator is an online interface designed to help you estimate the maturity amount and interest earnings on your fixed deposits with Axis Bank. The calculator quickly computes your returns by providing essential details such as the investment amount, tenure, and interest rate, giving you a clear idea of what to expect at maturity.
What is Axis FD and How Does it Work?
Axis Bank Fixed Deposit (FD) is a secure investment option allowing you to deposit a fixed amount for a fixed period at a predetermined interest rate. Depending on your preference, the bank pays interest on the deposited amount, which can be earned monthly, quarterly, or at maturity. This FD scheme helps grow your savings with minimal risk, offering assured returns regardless of market fluctuations. To open an Axis FD, you must choose the deposit amount, select the tenure (ranging from 7 days to 10 years), and specify the interest payout frequency. Once the tenure ends, the principal and accumulated interest are credited to your account. Axis Bank FD is ideal for conservative investors seeking guaranteed returns and capital safety.
How to Use Stack's Axis Bank FD Calculator?
Using Stack's Axis FD calculator is simple and user-friendly. Follow these steps:
1. Enter the Principal Amount: The initial amount you plan to invest in the FD.
2. Input the Annual Interest Rate: This is the interest rate offered by the bank.
3. Select the Period: In years or months, choose the duration you want to keep your money in the FD.
4. Choose the Compounding Frequency: Select how often the interest should be compounded (quarterly, annually).
5. Calculate: Click the 'Calculate' button to get the Maturity Amount and Total Interest Earned instantly.
The Formula to Calculate the Axis FD Maturity Amount
We calculate the FD maturity amount and returns using the following formula:
A = P (1 + r/n) ^ n*t
Where:
A = Total value of maturity
P = Principal Amount
r = Annual Interest Rate
t = Time (in years)
n = Number of times interest is compounded
This formula calculates your maturity amount directly, allowing you to understand how the investment amount will grow over time.
Calculation of Axis FD Returns
Suppose you invest ₹30,000 (P) in a fixed deposit for five years (t) at an annual interest rate of 7% (r), with interest compounded quarterly (n = 4).
Given:
Principal Amount (P) = ₹30,000
Annual Interest Rate (r) = 7% or 0.07
Time (t) = 5 years
Number of times interest is compounded (n) = 4 (Quarterly)
A = P (1 + r/n) ^ n*t
A = 30000 (1 + 0.07/4) ^ 4*5
A = 30000 (1 + 0.0175) ^ 20
A = 30000 (1.0175) ^ 20
A = 30000 * 1.41
A = 42,300
The maturity amount after five years would be ₹42,300, and the interest earned over this period would be ₹12,300.
How Can Axis FD Calculator Help You?
The Axis FD Calculator helps you make informed investment decisions by showing your potential returns. The calculator instantly shows the maturity value by inputting details like the deposit amount, interest rate, and duration, helping you understand how much your investment will grow.
This calculator is handy for comparing different FD schemes, planning your finances, and maximising your savings strategy. It eliminates manual calculations and complex formulas, allowing you to estimate your earnings and choose the best FD plan that aligns with your financial objectives.
Benefits of Using the Axis FD Calculator
The Axis FD calculator offers several benefits:
- Accuracy: Get precise calculations for the maturity amount and interest earned.
- Time-Saving: Avoid manual calculations and get instant results with a few clicks.
- Comparison: Compare different FD schemes to choose the best one for your needs.
- Financial Planning: Plan your investments better with accurate projections.
- User-Friendly Interface: Easy to use, even for those with minimal technical knowledge.
Visit YouTube
