Bank of India Fixed Deposit Calculator
The Bank of India Fixed Deposit (FD) Calculator is an online tool designed to help potential investors quickly estimate the maturity amount and interest earned on their fixed deposits. By inputting key details like the deposit amount, interest rate, and tenure, users can calculate the returns on their fixed deposits with ease and accuracy. It eliminates the need for complex manual calculations and provides quick, reliable estimates for better financial planning.
Steps of Using Wishfin Bank of India Fixed Deposit Calculator
To use the Bank of India Fixed Deposit (FD) Calculator , follow these steps:
- Visit the Official Calculator Page: Navigate to the Bank of India's FD Calculator:
- Enter Investment Amount: Specify the principal sum you intend to deposit in the fixed deposit.
- Select Tenure: Choose the duration for which you want to invest your money.
- Input Interest Rate: Enter the applicable annual interest rate for the chosen tenure.
- Choose Payout Interval: Choose how frequently you’d like to receive the interest, such as monthly, quarterly, or annually.
- View Results: The calculator will display:
- Total Interest Earned
- Total Maturity Amount
This tool helps you estimate your returns and plan your investments accordingly.
How to Use the Wishfin Bank of India Fixed Deposit Calculator?
Here are the steps on how to use the Wishfin Bank of India Fixed Deposit Calculator -
- Visit the Calculator Page: Go to the official Wishfin Bank of India Fixed Deposit Calculator and open the tool.
- Enter the Deposit Amount: Input the amount you plan to invest in the fixed deposit (minimum ₹1 lakh as per BOI rules).
- Select the Deposit Term: Decide how long you want to invest your money in the fixed deposit. You can typically select tenure in days, months, or years.
- Pick the Interest Rate: Enter the applicable annual Fixed Deposit interest rate offered by the Bank of India based on your customer category (general, senior citizen, or super senior citizen).
-
Choose the Customer Type (if applicable):
Select whether you are a regular depositor, senior citizen, or super senior citizen, as the interest rates vary.
- Get Results Instantly: The calculator will show the total maturity amount and interest earned, helping you make informed investment decisions quickly.
Benefits of the Bank of India Fixed Deposit Calculator
- Time-Efficient and Error-Free: Manually calculating the maturity value of a fixed deposit can be time-consuming and prone to errors. The BOI Fixed Deposit Calculator automates this process, delivering quick and reliable results without the need for complex formulas.
-
Free and Unlimited Access:
The Bank of India Fixed Deposit Calculator is freely available online and can be used as many times as needed. This allows users to assess various combinations of deposit amounts, durations, and interest rates to find the most suitable FD option.
- Estimate Returns in Advance: By using the calculator, investors can get an approximate idea of the interest earned and the maturity amount before actually opening a fixed deposit. This helps in making well-informed financial decisions based on individual cash flow and liquidity needs.
Formula for Calculating Bank of India Fixed Deposit Return
The Bank of India Fixed Deposit Calculator uses the standard compound interest formula to estimate the maturity amount and interest earned. This is the same formula used for manual FD calculations:
A = P(1+r/n)^n x t
Where:
- A = Maturity Amount (total value at the end of the FD tenure)
- P = Principal Amount (initial investment)
- r = Annual Interest Rate (in decimal form, i.e., 7% = 0.07)
- n = Number of times interest is compounded in a year (e.g., quarterly = 4, annually = 1)
- t = Period of the deposit (in years)
Bank of India Fixed Deposit Interest Rates 2025
Here's the revised Bank of India Fixed Deposit Interest Rates 2025 -
|
Tenure |
Interest Rates (% p.a.) |
||
|
Regular Citizens |
Senior Citizens |
Super Senior Citizens |
|
|
7 days to 14 days |
3 |
3 |
3 |
|
15 days to 30 days |
3 |
3 |
3 |
|
31 days to 45 days |
3 |
3 |
3 |
|
46 days to 90 days |
4.5 |
4.5 |
4.5 |
|
91 days to 179 days |
4.5 |
4.5 |
4.5 |
|
180 days to 210 days |
6 |
6.5 |
6.65 |
|
211 days to 269 days |
6 |
6.50$ |
6.65 |
|
270 days to less than 1 year (except 333 days) |
6 |
6.50$ |
6.65 |
|
1 year |
6.8 |
7.30$ |
7.45 |
|
Above 1 year to less than 2 years |
6.8 |
7.30$ |
7.45 |
|
400 days |
7.3 |
7.8 |
7.95 |
|
2 years |
6.8 |
7.3 |
7.45 |
|
Above 2 years to less than 3 years |
6.75 |
7.25$ |
7.4 |
|
3 years to less than 5 years |
6.5 |
7.25 |
7.4 |
|
5 years to less than 8 years |
6 |
6.75 |
6.9 |
|
8 years to 10 years |
6 |
6.75 |
6.9 |
Important Notes -
- Minimum Deposit: ₹1 lakh
-
Additional Interest for Senior Citizens:
- An extra 50 basis points (bps) is offered on FDs with a tenure of 6 months and above.
- For FDs below ₹2 crore and with a tenure of 3 years or more, senior citizens receive an additional 25 bps, taking the total premium to 75 bps (50 bps + 25 bps).
-
Additional Interest for Super Senior Citizens (typically age 80+):
- An extra 65 bps is offered on FDs with a tenure of 6 months and above.
- For FDs below ₹2 crore and with a tenure of 3 years or more, they receive an additional 25 bps over and above the 65 bps, making it a total of 90 bps.
Frequently Asked Questions (FAQs)
