Icici Bank Fixed Deposit Rates Nre Calculator

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ICICI Bank NRE FD Calculator

Calculate your Maturity Value on Non-Resident External Fixed Deposits

Total Principal: ₹0
Interest Earned: ₹0
Maturity Value: ₹0

Note: NRE Fixed Deposits require a minimum tenure of 1 year. No interest is payable if the deposit is withdrawn before 1 year.

function calculateNRE() { var principal = parseFloat(document.getElementById('iciciPrincipal').value); var rate = parseFloat(document.getElementById('iciciRate').value); var years = parseInt(document.getElementById('iciciYears').value) || 0; var months = parseInt(document.getElementById('iciciMonths').value) || 0; var warning = document.getElementById('iciciWarning'); var resultsDiv = document.getElementById('iciciResults'); if (isNaN(principal) || isNaN(rate) || (years === 0 && months === 0)) { alert("Please enter valid positive numbers for all fields."); return; } var totalYears = years + (months / 12); var maturityAmount = 0; var interestEarned = 0; if (totalYears < 1) { // NRE FD Rule: No interest for less than 1 year maturityAmount = principal; interestEarned = 0; warning.style.display = "block"; } else { // Quarterly Compounding Formula: A = P(1 + r/n)^(nt) // ICICI Bank generally uses quarterly compounding for FDs over 6 months var n = 4; // Compounding 4 times a year var annualRateDecimal = rate / 100; maturityAmount = principal * Math.pow((1 + (annualRateDecimal / n)), (n * totalYears)); interestEarned = maturityAmount – principal; warning.style.display = "none"; } document.getElementById('resPrincipal').innerText = "₹" + principal.toLocaleString('en-IN'); document.getElementById('resInterest').innerText = "₹" + Math.round(interestEarned).toLocaleString('en-IN'); document.getElementById('resMaturity').innerText = "₹" + Math.round(maturityAmount).toLocaleString('en-IN'); resultsDiv.style.display = "block"; }

About ICICI Bank NRE Fixed Deposit Rates

A Non-Resident External (NRE) Fixed Deposit is one of the most popular investment avenues for Non-Resident Indians (NRIs) to park their foreign earnings in Indian Rupees. ICICI Bank offers competitive interest rates on NRE accounts, with the added advantage that both the principal and the interest earned are fully and freely repatriable.

Key Features of NRE Deposits:

  • Tax-Free Returns: The interest earned on NRE Fixed Deposits is completely exempt from Income Tax in India.
  • Minimum Tenure: The minimum period for which you can book an NRE FD with ICICI Bank is 1 year.
  • Compounding: Interest is typically compounded quarterly, which helps in maximizing your wealth over longer durations.
  • Currency: Funds must be deposited in foreign currency, which is converted to INR at the prevailing exchange rate.

How to Use the ICICI NRE FD Calculator

Follow these steps to estimate your maturity value:

  1. Principal Amount: Enter the amount in Indian Rupees (INR) you wish to deposit.
  2. Interest Rate: Input the current ICICI Bank NRE FD rate. These rates vary based on the tenure and the prevailing market conditions.
  3. Tenure: Specify the duration in years and months. Ensure the total period is at least 12 months (1 year) to earn interest.
  4. Click Calculate: The tool will automatically apply the quarterly compounding formula to show your final maturity amount.

Calculation Example

If you deposit ₹5,00,000 for a tenure of 2 years at an annual interest rate of 7.00%:

  • Principal (P): ₹5,00,000
  • Annual Rate (R): 7%
  • Compounding (n): 4 (Quarterly)
  • Estimated Maturity Amount: ₹5,74,310
  • Total Interest Earned: ₹74,310 (Tax-free in India)

Disclaimer: This calculator provides estimated values based on standard quarterly compounding logic. Actual maturity amounts may vary slightly due to rounding, specific bank policies, or changes in interest rate slabs. Please check the official ICICI Bank website for the most recent NRE FD rates.

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