ICICI Fixed Deposit Calculator

The ICICI Bank Fixed Deposit (FD) Calculator is a convenient online tool that allows investors to quickly estimate the returns they can earn on their fixed deposit investments. By simply entering key details such as the deposit amount, tenure, and applicable interest rate, users can calculate the maturity amount and interest earned with ease. This calculator helps in planning investments more effectively by offering clear insights into potential earnings based on different scenarios.

Benefits of Using the ICICI Bank Fixed Deposit Calculator

Calculating the maturity amount on your Fixed Deposit (FD) involves several factors and can be quite complex. An FD calculator makes this process easier by enabling you to:

• Instantly determine the maturity amount you’ll receive based on your deposit amount, tenure, and interest rate.
• Compare returns across different fixed deposit schemes and durations to find the most suitable option.
• Make well-informed decisions by clearly understanding the potential earnings from your FD investment.

Limitations to Keep in Mind While Using an ICICI Bank Fixed Deposit Calculator

• Indicative Maturity Amount - The maturity amount shown is only an estimate. It does not account for TDS (Tax Deducted at Source), which can reduce the actual interest payout.
  

• Effect of Premature Withdrawals - If you withdraw the FD before maturity, the interest rate and total payout will change, often resulting in lower returns than projected.
  

• Internet Dependency - Most online FD calculators require a stable internet connection to function properly. You may not be able to access or use them offline.

How to Maximise Benefits from Your ICICI Bank Fixed Deposit Investment?

• Earn Additional Interest as a Senior Citizen - Senior citizens can enjoy an extra 0.50% interest over the standard rate, helping grow their savings faster.
• Choose the Right Tenure for Maximum Returns - Select a tenure between 18 months to 2 years to benefit from the highest available interest rate of 7.05%, as offered by many banks, including Axis Bank.
• Get an Overdraft Against Your Fixed Deposit - In case of emergencies, you don’t need to break your FD. Instead, you can avail of an overdraft facility against your deposit, ensuring liquidity without losing interest.
• Create an FD Instantly - Open a Fixed Deposit online anytime, anywhere, in just 60 seconds through mobile or internet banking – quick, easy, and hassle-free.

How to use the Wishfin ICICI Bank Fixed Deposit Calculator?

To use the Wishfin ICICI Bank Fixed Deposit (FD) Calculator, follow these steps:

Steps to Use the Wishfin ICICI FD Calculator:

• Visit the Website: Go to Wishfin's ICICI FD Calculator page (search "Wishfin ICICI Fixed Deposit Calculator").

• Enter the Investment Amount: Input the principal amount you plan to deposit in the Fixed Deposit.

• Select the Tenure: Choose the deposit duration in months or years.

• Enter the ICICI FD Interest Rate: Either input the current interest rate manually or check if it’s pre-filled based on recent ICICI Bank rates.

• Choose the Type of FD: Select between Cumulative (interest paid at maturity) or Non-Cumulative (monthly/quarterly interest payouts).

• Enter the Payout Frequency (for Non-Cumulative FDs): Choose monthly, quarterly, or half-yearly if relevant.

• Click "Calculate": The calculator will display:
• Total Maturity Amount
• Total Interest Earned

Formula for Calculating ICICI Bank Fixed Deposit Return

Interest is compounded quarterly (standard for Indian banks, including ICICI Bank).

Simple Interest Formula: Principal x Rate x Time (PxRxT)

Where:

• SI = Simple interest earned
• P = Principal
• r = Annual interest rate (%)
• t = Tenure in years
• Maturity Amount = P + SI

ICICI Bank Fixed Deposit Interest Rate

The table below will show you the ICICI Bank Fixed Deposit interest rates for the general public and senior citizens. Go through it -

For the General Public -

For Senior Citizens -

Interest Rates on Domestic Fixed Deposits (Up to ₹3 Crore)

Listed in the table below are the interest rates offered by the bank on term deposits (up to ₹3 crore). The interest rates mentioned here apply to deposits that include the premature withdrawal facility.