KVB FD Calculator
Fixed Deposit rates on Domestic/NRO Fixed Deposits of less than Rs 2 crore - General Public
| Tenure | Interest Rates (% p.a.) |
| 7 days to 14 days | 4 |
| 15 days to 30 days | 4 |
| 31 days to 45 days | 5.25 |
| 46 days to 90 days | 5.25 |
| 91 days to 120 days | 5.25 |
| 121 days to 180 days | 5.5 |
| 181 days to 270 days | 5.75 |
| 271 days to less than 1 year | 5.9 |
| 1 year to less than 2 years | 6.1 |
| 2 years to less than 3 years | 6.1 |
| 3 years to less than 5 years | 6.1 |
| 5 years to less than 6 years | 6.1 |
| 6 years and above | 6.1 |
Note: The FD interest rates are effective as of 1 September 2022
Interest rates on Domestic/NRO Fixed Deposits - Senior Citizens
| Tenure | Interest Rates (% p.a.) |
| 1 year to less than 2 years | 6.5 |
| 2 years to less than 3 years | 6.5 |
| 3 years to less than 5 years | 6.6 |
| 5 years to less than 6 years | 6.6 |
| 6 years to 10 years | 6.6 |
Note: The FD interest rates are effective as of 1 September 2022
KVB Tax Saver Deposit
| Particulars | Interest Rates (% p.a.) |
| KVB Tax Shield | 5.9 |
Interest Rates on NRE Deposits
| Tenure | Interest rates (% p.a.) |
| 1 year to less than 2 years | 6.5 |
| 2 years to less than 3 years | 6.5 |
| 3 years to less than 5 years | 6.1 |
| 5 years to less than 6 years | 6 |
| 6 years and above | 6 |
Note: The FD interest rates are effective as of 1 September 2022
Interest Rates of FCNR Deposits
| Period | USD | GBP | EUR | JPY | CAD | AUD |
| 1 year to less than 2 years | 4.88 | 2.69 | 0.92 | 0.46 | 3.5 | 2.85 |
| 2 years to less than 3 years | 4.88 | 2.69 | 0.92 | 0.56 | 3.5 | 2.85 |
| 3 years to less than 4 years | 4.78 | 2.94 | 0.92 | 0.71 | 3.75 | 3.1 |
| 4 years to less than 5 years | 4.63 | 3.19 | 1.02 | 0.71 | 3.75 | 3.1 |
| 5 years only | 4.53 | 3.19 | 1.02 | 0.71 | 3.75 | 3.1 |
Note: The FD interest rates are effective as of 1 September 2022 to 30 September 2022
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KVB FD Calculator
Fixed deposit schemes are one of the best ways to multiply your savings. It is offered by various banks and NBFCs. Karur Vysya Bank offers different types of fixed deposits at attractive rates with multiple features.
Choosing the right FD scheme might be a bit confusing for some. To find the most suitable FD scheme that aligns with your financial goal, you should check the estimated return. Simply use an online FD calculator, and input the Karur Vysya fixed deposit interest rate and other details. To know more read on.
KVB Fixed Deposit (FD) Calculator
Karur Vysya Bank FD calculator is a digital tool that allows you to know fixed deposit returns easily.
This financial institution offers attractive interest rates ranging from 4% to 7.25% p.a. for regular citizens and 6.65% to 7.65% p.a. for senior citizens for investments below ₹2 crore. These interest rates will vary as per your chosen tenure.
For Karur Vysya fixed deposits, you will receive an interest payout every month, quarter, or half-yearly. In this regard, this KVB FD calculator helps you to compare the returns on FD schemes with varying Karur Vysya Bank fixed deposit interest rates.
How Does the KVB Fixed Deposit Calculator Work?
Follow these simple steps to estimate the maturity amount on your fixed deposit via an online calculator:
1. Enter your principal deposit in the “Total Investment” box.
2. Now, drag the purple slider accordingly until you reach your desired tenure, or simply enter the investment tenure in the required box.
3. Now, enter the interest rate for a particular fixed deposit scheme.
Finally, the right side of the page will display the “Total Value” and “Estimated Return” received against your KVB fixed deposit schemes. The best part is you can alter all inputs accordingly to choose a feasible fixed deposit scheme as per your financial goals.
However, to better position your FD investment you need to understand how fixed deposit interests are calculated. It is calculated in two ways:
Simple Interest
In this scenario, the formula used for simple interest is: M= P+ (PXRXT/100), where
M is your maturity amount
P denotes the principal amount
R stands for rate of interest
T represents the investment tenure.
Example
Suppose you want to invest ₹40,000 at a rate of interest of 5.75% p.a. for 10 years. So according to the formula the interest earned will be:
M = P+ (PXRXT/100) = 40,000+ (40,000 * 5.75 * 10)/ 100
So, M = ₹63,000.
Compound Interest
On the contrary, the formula used to estimate interest for compound interest FD: A = P (1+ R/N) ^ N*T
In this given formula,
A stands for your maturity amount
N is the frequency of compounding interest
R implies the annual Karur Vysya Bank fixed deposit rates
P denotes your fixed deposit investment amount, and
T represents the investment tenure or term.
Example
Suppose you want to invest ₹40,000 at a quarterly compounded rate of interest 5.75% p.a. for 10 years. So according to the formula the interest earned will be
A = P (1+ R/N) ^ N*T = 40,000 (1+0.0575/4) ^ (4*10)
Therefore, A = ₹70,794.81
So, interest income = ₹(70,794.81– INR 40,000) = ₹30,794.81.
Benefits of an Online KVB FD Calculator
An online KVB FD calculator can prove to be highly beneficial. Instead of manually calculating the interest, you can opt for seamless calculation using this online tool.
1. This online FD calculator comes with a user-friendly interface, which is easy to use.
2. One of the prominent advantages of using KVB FD calculator is the accuracy it offers over manual calculation. Maturity value calculation entails using an intricate formula. This can lead to mistakes at times. On the other hand, this calculator is entirely automated which eliminates the risk of errors.
3. You can better manage your investment and financial goals if you have knowledge of the accrued interest beforehand. With an online tool, you can compare the returns of various FD schemes for the different deposit amounts and choose one as per your financial goals.
4. This tool is entirely free and easy to access. You do not need to provide any personal details or sign up.
With the Upstox KVB FD calculator, you can compute the interest that your principal FD amount will earn in a smart and seamless way. Provide the necessary details about your FD investment and determine the accrued interest easily. Then, choose a suitable FD scheme, invest a specific amount and start growing your money.
Frequently Asked Questions
What are the minimum and maximum amounts of investment for FDs for KVB?
You can invest in KVB FDs with a minimum amount of ₹100. However there is no limit on how much amount you can put in an FD with KVB, but deposits over ₹2 crore require clearance from the bank.
Can a customer open a term deposit account online in KVB?
Customers having internet banking can open a term deposit account online.
Who are eligible to open KVB fixed deposits?
FDs with KVB can be opened by individuals, partnerships, HUF, trusts, companies, associations etc.
In how many years has FD doubled in KBV?
The growth of KVB FD depends on the tenure chosen and the rate of interest. By using the rule of 72, you can compute the number of years it will take to double your amount invested. For instance, if the interest offered on your FD is 7.05%. Now applying this rule, you will take (72/7.05) = 10.21 years for your investment to get doubled.
Do we have a premature withdrawal facility on KVB FD?
Yes, KVB allows its customers to withdraw the fixed deposit amount prematurely.
What is the penalty for early withdrawal in KVB FD?
On premature withdrawal, the bank will charge a penalty of 1% for deposits up to ₹ 2 crore on the contracted interest rate. On the other hand, for deposits above ₹2 crore, the bank’s pre-closure penalty regulations will apply.
What is the maximum and minimum tenure for a fixed deposit in KVB?
With Karur Vysya Bank FDs you can choose a fixed deposit for a minimum of 7 days and a maximum period of 10 years.
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.