DHFL Fixed Deposit FD Calculator
DHFL Ashray Deposit Plus Interest Rates - General Public
|Investment period||Rate for regular FDs (per annum)|
|48 months to 120 months||8.00%|
DHFL Ashray Deposit Plus Interest Rates - Senior Citizens
|Investment period||Privilege customers Senior Citizen FD rates (per annum)|
|48 months to 120 months||8.25%|
DHFL FD Calculator
Fixed deposit is one of the most preferred investment avenues for Indian investors. This is primarily because of the guaranteed returns that they offer unaffected by market conditions.
DHFL (Dewan Housing Finance Limited) is the second largest private-sector housing finance company in India. Now the Piramal Group owns this entity. DHFL fixed deposits come with attractive interest rates and various features.
Get more details about DHFL fixed deposit and online FD calculator below.
DHFL Fixed Deposit (FD) Calculator
DHFL fixed deposit offers competitive interest rates which vary between 8.25% and 8.95% and flexible deposit tenure. This interest rate range is applicable to general citizens. Senior citizens enjoy an additional interest rate of 0.40% over and above the basic rate.
Before you invest in an FD, it is essential to determine the accrued interest. This can help you in choosing the right FD scheme as per your financial plans.
As you can see, the DHFL FD interest rate applicable keeps changing as the deposit tenure change. It can get hectic to calculate the maturity amount and get accurate results through manual calculations. This is why you can make use of the DHFL FD calculator available online. You just need to enter the correct figures to get an error-free result within seconds.
How does the DHFL FD Calculator Work?
A fixed deposit accumulates interest in either of two ways – simple or compound interest.
If your fixed deposit accrues simple interest, you can use the following formula for maturity calculation:
M= P+ (PXRXT/100)
Here, M denotes the maturity amount, P stands for the investment amount, T is the tenure of the deposit and R is rate of interest.
If it accrues compound interest, you need to use the following formula to figure out the maturity amount:
A = P (1 + r/n) ^ n*t
In this formula, “A” represents the FD maturity amount
“P” denotes your fixed deposit investment amount
“r” implies the annual DHFL FD interest rate
“n” stands for the frequency of compounding interest
“t” represents the investment term or tenure
Let’s understand how this process works with the help of the following illustration.
So, let’s assume you have made a fixed deposit of ₹50,000 for 5 years at a quarterly compounding rate of 6%.
Putting the figures in the formula you get,
A = 50,000 (1 + 6%/1) ^ 1×5
A = ₹67,343
Hence, the interest accrued will be, is A – P, i.e., (67,343 – 50,000) = ₹17,343
You need to put the deposit amount, rate of interest and tenure while using the online calculator to get an accurate result.
The process to use this calculator is really simple:
1. Enter an investment amount on the “Total Investment” box
2. Drag the cursor to draw a purple line until reaching the desired tenure, or enter the Number of years in the box provided
3. Finally, enter the interest rate and check the right side of the page
4. It will display the “Estimated Return”, and “Total Value” received against your FD investment
You can alter the figures of the deposit amount, interest rate, and tenure to calculate and compare returns for different tenures and deposit amounts.
Benefits of an Online DHFL FD Calculator
Here are some remarkable benefits that the DHFL calculator has to offer:
- The calculation process is straightforward and easy.
- There is no chance of error as the tool uses machine algorithms.
- DHFL FD interest rate varies according to the deposit amount and tenure. So, you can compare the interest for different investment terms and select a suitable one that fits your investment and financial goals.
- You can plan your investment in a hassle-free way with this simple tool.
- You don’t need to share any personal details or sign up to use this tool. This tool is completely free and you can use it anytime from anywhere.
Upstox DHFL fixed deposit is an excellent choice for hassle-free FD interest calculation. You can conveniently use the FD calculator to figure out the maturity amount and select the one most suitable as per your requirement. Additionally, this tool offers a user-friendly interface for enhanced user experience.
Frequently Asked Questions
What is the highest interest rate on DHFL FD?
The highest rate of interest applicable for DHFL FD is 8.95% for general citizens and 9.35% for senior citizens.
Do we have a premature withdrawal facility on DHFL FD?
Yes, DHFL offers a premature withdrawal facility on FD post 3 months from its opening date.
In how many years has FD doubled in the DHFL?
You can use the Rule of 72 to find out in how many years your DHFL FD will double. You just need to divide 72 by the applicable interest rate. For example, if your bank offers a 6% annual interest rate, it will take (72/6) 12 years for your FD to double in amount.
Can a customer open a term deposit account online in DHFL?
No, a customer cannot open a term deposit account online in DHFL. One has to visit the nearest DHFL branch and submit a duly filled FD application form along with the necessary documents and deposit amount.
Can I deposit an extra amount into an already existing FD?
No, you cannot deposit an additional amount into an already existing FD. You can instead open another FD account and start investing.
Does DHFL provide an auto-renewal facility for fixed deposits?
Yes, DHFL provides an auto-renewal facility for its fixed deposit investors.
What is the lock-in period for Tax Saving FD Scheme?
The lock-in period for a tax-saving fixed deposit scheme is of 5 years. You cannot make any premature withdrawals and take a loan against your FD during this period.
Are there any special rates for senior citizens?
Yes, DHFL offers an additional rate of 0.40% over and above the base interest rate for senior citizens.
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.