Abhyudaya Bank FD Calculator
Abhyudaya Bank Fixed Deposit Interest Rates - General Public
| Tenure | Regular Interest Rate (per annum) |
| 7 days to 90 days | 4.25% |
| 91 days to 180 days | 4.50% |
| 181 days to 15 months | 5.00% |
| More than 18 months to 3 years | 5.50% |
| Above 3 years to 5 years | 5.85% |
| Above 5 years and up to 10 years | 6.10% |
Note: The FD interest rates are effective as of 1 July 2022
Abhyudaya Bank Fixed Deposit Interest Rates - Senior Citizens
| Tenure | Senior Citizen Interest Rate (per annum) |
| 7 days to 90 days | 4.50% |
| 91 days to 180 days | 4.75% |
| 181 days to 15 months | 5.25% |
| More than 18 months to 3 years | 5.75% |
| Above 3 years to 5 years | 6.25% |
| Above 5 years and up to 10 years | 6.35% |
Note: The FD interest rates are effective as of 1 July 2022
Abhyudaya Bank FD Tax Saving Scheme Interest Rates - General Public
| Tenure | Regular Interest Rate (per annum) |
| 5 years | 6.00% |
Abhyudaya Bank FD Tax Saving Scheme Interest Rates - Senior Citizens
| Tenure | Senior Citizen Interest Rate (per annum) |
| 5 years | 6.00% |
Abhyudaya Bank NRE Term Deposit Rates - General Public
| Tenure | Regular Interest Rate (per annum) |
| 1 year to 18 months | 5.00% |
| More than 18 months to 3 years | 5.50% |
| Above 3 years to 5 years | 5.85% |
| Above 5 years to 10 years | 6.10% |
Note: The FD interest rates are effective as of 1 July 2022
Abhyudaya Bank NRE Term Deposit Rates - Senior Citizens
| Tenure | Senior Citizen Interest Rate (per annum) |
| 1 year to 18 months | NA |
| More than 18 months to 3 years | NA |
| Above 3 years to 5 years | NA |
| Above 5 years to 10 years | NA |
Note: The FD interest rates are effective as of 1 July 2022
Abhyudaya Bank FCNR/ RFC Deposit Rates
| Tenure | GBP% | USD% |
| 12 months to less than 24 months | 2.39% | 2.19% |
| 24 months to less than 3 years | 2.74% | 2.40% |
Abhyudaya Bank NRO Deposit Rates - General Public
| Tenure | Regular Interest Rate (per annum) |
| 7 days to 90 days | 4.25% |
| 91 days to 180 days | 4.50% |
| 181 days to 15 months | 5.00% |
| Above 18 months up to 3 years | 5.50% |
| Above 3 years up to 5 years | 5.85% |
| Above 5 years t0 10 years | 6.10% |
Note: The FD interest rates are effective as of 1 July 2022
Abhyudaya Bank NRO Deposit Rates - Senior Citizens
| Tenure | Senior Citizen Interest Rate (per annum) |
| 7 days to 90 days | NA |
| 91 days to 180 days | NA |
| 181 days to 15 months | NA |
| Above 18 months up to 3 years | NA |
| Above 3 years up to 5 years | NA |
| Above 5 years t0 10 years | NA |
Note: The FD interest rates are effective as of 1 July 2022
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Abhyudaya Bank FD Calculator
Investment avenues like fixed deposit schemes are secure options that help you earn stable returns. Investing any amount below ₹2 crore in Abhyudaya Bank fixed deposit, you can earn a minimum interest of 4.00%. This bank offers several benefits like tax saving features, loan facilities, attractive interest rates etc. on their FD schemes.
Besides all these facilities, senior citizens can avail of an additional interest rate on regular FD rates. You can open an FD account in Abhyudaya bank with a minimum investment of ₹500. However, there is no limit to maximum investment; you can invest any suitable amount and earn attractive interest on it. Keep reading to know more about Abhyudaya Bank FD rates and the interest calculation process.
Abhyudaya Bank Fixed Deposit (FD) Calculator
Abhyudaya bank FD interest rates vary depending on the period you choose to keep your funds invested. Generally, you can earn higher interest upon selecting a longer tenure and vice-versa. So, you can choose long-term investments for maximum returns. Besides, you can decide on a suitable maturity amount by comparing the interest rates levied against a particular tenure.
This comparison can be hassle-free if you choose an online fixed deposit calculator over the manual calculation process. FD interests are determined through a complex mathematical formula that involves the risk of miscalculation when calculated manually. However, online calculators reduce the hassles of traditional calculation and offer error-free results promptly.
Let’s take a look at its working method!
How Does the Abhyudaya Bank FD Calculator Work?
Abhyudaya Bank fixed deposit calculator is an easy online tool designed for quick interest calculation. Here’s how you can use this tool:
1. Start with entering your estimated investment amount on the “Total Investment” bar
2. Next, select a suitable tenure by drawing a purple line below the ‘Number of years’ space
3. The last step involves entering the proper Abhyudaya Bank fixed deposit interest rates
You can enter the figures in two ways: i) by typing them on the required fields and ii) by dragging a purple line under each field until reaching the suitable number.
Once you complete filling in every necessary detail, the estimated result will be displayed instantly on this same page.
Note: You can compare accrued interests for different FD schemes by altering the figures in each field accordingly.
As mentioned earlier, this calculation involves a mathematical formula. However, there are two different formulas as per the variation in tenure. For tenures below 1 year, interest is calculated via simple interest formula or else a compound interest formula is applicable.
The simple interest formula goes as follows:
M = P+ (PXRXT/100)
Here, ‘M’ is the amount you receive after completion of the selected tenure
‘P’ stands for the amount you choose to invest in your FD account
‘R’ denotes the fixed deposit interest rate
‘T’ represents the decided tenure
Take a look at the compound interest formula:
A = P (1 + r/n) ^ n*t
In this formula, ‘A’ represents the amount you receive on fixed deposit maturity
‘P’ is the principal amount you invest while opening an FD account
‘r’ implies the annual rate of interest
‘n’ stands for the frequency of compounding interest (it will be 1 when compounded annually, 2 for half-yearly, 4 for quarterly, and 12 for monthly)
‘t’ denotes the investment term
Let’s take an example for a better interpretation of this formula:
Rahul invests a sum of ₹50,000 for a tenure of 2 years at an interest rate of 5.50%. The interest amount will be as follows when compounded annually:
A = 50,000 (1 + 5.50%/1) ^ 1*2
So, the maturity amount will be ₹55,651.25.
Hence, Rahul will earn an interest of (55,651.25 – 50,000) ₹5,651.25.
Benefits of an Abhyudaya Bank FD Calculator Online
Here are the notable benefits of an Abhyudaya Bank FD calculator online:
- Time-saving
It takes much time to calculate FD returns manually. So, you can save time using this online tool for the fastest calculation. This online tool produces the results instantly after entering the investment amount, interest rate, and tenure. - Convenient
It features a user-friendly interface for easy calculation procedures. So, you can determine the FD returns conveniently without any hassle. - Accurate
This online tool is completely automated for error-free calculation. All you need to do is enter the necessary investment details in the correct fields. - Flexible
This tool offers you an option to alter the interest rate, tenure, and investment amount and calculate multiple FD returns. It will help you choose a suitable FD scheme for better returns.Consider using the Upstox Abhyudaya fixed deposit calculator for the best outputs. This free online tool is easy to use and hassle-free. You need not enter any personal details. The calculation is carried out based on the inputs you provide each time. Get an estimate of the maturity amount that your FD scheme can bring and start investing.
Frequently Asked Questions
What is the minimum investment for FDs under Abhyudaya Bank?
The minimum investment amount for an Abhyudaya fixed deposit scheme is as low as ₹500.
Do we have a premature withdrawal facility on Abhyudaya Bank FD?
When fixed deposits from Abhyudaya Bank are withdrawn prematurely after completing 7 days from auto-renewal, the bank will charge a penalty of 1% against the applicable interest rate.
What is the highest interest rate on Abhyudaya Bank FD?
Abhyudaya Bank offers the highest interest rate of 6.10% for a tenure between 5 years and 10 years against investments below ₹2 crores. However, senior citizens can earn the highest interest of 6.35% for the same period and investment amount.
Can new customers open an FD online? If not, how can they do so?
New customers cannot open an FD online unless they have availed an internet banking.
Can I deposit an additional amount into my already existing FD?
You cannot deposit any additional amount into an already existing fixed deposit account.
Can an Abhyudaya Bank FD account be closed online?
If you have opened an Abhyudaya Bank fixed deposit online, it can be closed online. However, if it is opened offline, you need to visit the respective branch to close the account.
Does Abhyudaya Bank provide an auto-renewal facility for fixed deposits?
Yes, you can avail auto-renewal facility for Abhyudaya Bank fixed deposits.
Who are eligible to open an Abhyudaya Bank fixed deposit account?
Any Indian citizen, trusts, societies and HUFs can open a fixed deposit account in Abhyudaya Bank.
Disclaimer:
This calculator is meant to be used for indicative purposes only. It is designed to assist you in determining the appropriate amount of prospective investments. This calculator alone is not sufficient and shouldn’t be used for the development or implementation of any investment strategy. Upstox does not take the responsibility/liability nor does it undertake the authenticity of the figures calculated therein. Upstox makes no warranty about the accuracy of the calculators/reckoners. The examples do not claim to represent the performance of any security or investments. In view of the individual nature of tax consequences, each investor is advised to consult his/her own professional tax advisor before making any investment decisions on the basis of the results provided through the use of this calculator.