Learn How the Online IndusInd Bank Fixed Deposit Calculator Simplifies Your Life

Millions of Indians include Fixed Deposits (FDs) in their investment plans because of their risk-free nature, predictable returns, Deposit Insurance and Credit Guarantee Corporation (DICGC) backed insurance, loan facilities, and tax benefits. Although you can easily invest in fixed deposits online, knowing your maturity value beforehand is crucial to align your investment with your future goals.

If you calculate FD returns manually, this can be time-consuming and prone to errors due to varying interest rates, compounding frequencies, and different tenure options. This is where the IndusInd Bank Fixed Deposit Calculator comes into play. The online tool automates the calculation process and provides you with precise information on the maturity amount, interest earned, and more. This helps you make informed FD decisions and maximise returns.

How to use the IndusInd Bank FD Calculator?

An example of how a fixed deposit interest calculator works

Let's say you decide to invest ₹7,00,000 in a fixed deposit for two years. Assuming the current interest rate is 7.75% per annum, an FD calculator will show that at the end of the tenure, your investment will grow to approximately ₹8,16,150. This means you will earn about ₹16,150 in interest in just two years.

Learn how the IndusInd Bank Fixed Deposit Calculator simplifies your life

Error-free calculations: The calculator eliminates errors commonly associated with manual calculations. You get reliable data on how much interest your FD will accumulate over the years, which means no surprises at maturity. This accuracy is critical when you are aligning your investment with specific financial goals, like education funding, retirement planning, weddings, or big-ticket purchases.

Time-saving: The FD interest calculator saves you time by displaying quick and precise calculations. Instead of spending hours crunching numbers and double-checking your maths, you can get your answers in seconds. This speed allows you to compare different investment scenarios rapidly, which is important to make timely and informed decisions.

Zero cost: The FD calculator is a free tool provided by IndusInd Bank to all users, whether they are bank customers or not. Hence, you will not incur any hidden fees or charges for using the calculator.

Interest rate comparisons: By adjusting the deposit amount and the tenure, you can see how different interest rates can affect your final FD returns. This helps you identify the most lucrative option and ensures you get the best possible returns on your FD investment.

Calculated your FD returns? Know how to apply for IndusInd Bank Fixed Deposits

Here are three different ways to invest in the IndusInd Bank Fixed Deposits:

1. Web application (Applicable for Non-IndusInd Bank customers as well)

• Verify your PAN and Aadhaar card details
• Fill in your personal and FD details accurately
• Next, complete the video-KYC process from the comfort of your home
• After successful verification, fund your FD account by transferring the required amount

2. IndusMobile app (For existing IndusInd Bank customers)

• Use your mobile banking ID to log in to the IndusMobile app
• Choose the deposit option, then click on ‘Create Fixed Deposit’
• Next, carefully fill out the form with the required details
• Once you submit the form, the specified amount will automatically be transferred from your savings account to your fixed deposit

3. IndusNet Banking Portal (For existing IndusInd Bank customers)

• Log into your Internet banking account and select the deposit option
• Click on the option ‘Open FD’
• Choose the tenure and amount you want to transfer to your fixed deposit from your savings account

Tips to maximise your returns from fixed deposits

While IndusInd Bank Fixed Deposits already offer the best-in-class interest rates, there are additional steps you can take to maximise your returns. Find the details below:

Choose cumulative FDs

Opt for a cumulative plan if you do not need regular interest payouts. In this type of FD, the interest isn’t paid out periodically but compounded and added back to the principal. This process occurs at regular intervals throughout the FD tenure. As a result, each compounding period sees the interest from the previous period earning its own interest. This powerful effect of compounding can boost the total amount you receive at maturity.

Invest in tax-saving FDs

Tax-saver FDs offer tax benefits under Section 80C of the Income Tax Act, 1961. These FDs have a lock-in period of five years, but the money you save on taxes can effectively increase your total returns.

Ladder your FDs

Instead of investing a lump sum in a single FD, consider splitting the capital into multiple FDs with varying maturity dates. For example, if you have ₹5 lakh to invest, you can create five FDs of ₹1 lakh each, with terms of 1, 2, 3, 4, and 5 years. This can help you manage liquidity better, leverage different interest rate cycles, and optimise returns over a period.

Opt for auto-renewal

When your FD matures, you need to plan on reinvestments. Without a plan, there could be a temptation to spend this money unnecessarily. Also, delays in reinvesting can create gaps and cause your money to sit idle without earning interest. Opting for auto-renewal eliminates these issues. The bank automatically reinvests your matured FD into a new one at the prevailing interest rate, which means uninterrupted growth.

Key takeaways

The IndusInd Bank Fixed Deposit Calculator simplifies your life by offering precise insights into your FD maturity value. You can also adjust different tenures and amounts to optimise your returns for different financial goals. The best part is that the tool is available for free 24x7.

Once you calculate your potential returns, book an IndusInd Bank Fixed Deposit in just 4 simple steps. Apply online, provide your Aadhaar and PAN card, complete a video KYC (if you are not an existing customer), and fund your FD. Now, watch your hard-earned money grow.