Icici Fixed Deposit Rates Calculator

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ICICI Fixed Deposit Maturity Calculator

Years Months Days
Wealth Gained: ₹0
Total Maturity Value: ₹0

Understanding the ICICI Fixed Deposit Calculation

Fixed Deposits (FDs) are a popular investment vehicle offered by ICICI Bank for individuals seeking guaranteed returns and capital protection. Unlike volatile market investments, an FD provides a predetermined yield over a specific period.

How the Math Works

ICICI typically calculates interest on a quarterly compounding basis for tenures exceeding 6 months. For shorter durations, simple interest is applied. The formula used for quarterly compounding is:

A = P [1 + (r/400)] ^ (4n)
  • A: Total maturity amount
  • P: Principal investment sum
  • r: Percentage rate of return
  • n: Number of years

Practical Examples

Principal Tenure Yield Rate Maturity Value
₹1,00,000 1 Year 6.70% ₹1,06,871
₹5,00,000 3 Years 7.00% ₹6,15,720

Key Factors Influencing FD Returns

  1. Investor Profile: Senior citizens usually receive an additional 0.50% premium over standard rates.
  2. Lock-in Period: Choosing a longer duration often unlocks higher yields compared to short-term parking of funds.
  3. Compounding Frequency: The more frequent the compounding (e.g., quarterly vs. yearly), the higher the effective yield on your capital.
  4. Taxation: Be aware that wealth gained via FD is subject to Tax Deducted at Source (TDS) if it exceeds ₹40,000 (₹50,000 for seniors) in a financial year.
function calculateICICIFD() { var p = parseFloat(document.getElementById("investmentPrincipal").value); var r = parseFloat(document.getElementById("annualYield").value); var t = parseFloat(document.getElementById("investmentTenure").value); var type = document.getElementById("tenureType").value; if (isNaN(p) || isNaN(r) || isNaN(t) || p <= 0 || r <= 0 || t <= 0) { alert("Please enter valid positive numbers for all fields."); return; } var timeInYears; if (type === "months") { timeInYears = t / 12; } else if (type === "days") { timeInYears = t / 365; } else { timeInYears = t; } var maturity; // For tenures less than 6 months (approx 0.5 years), ICICI typically uses simple interest // For longer tenures, quarterly compounding is standard (n=4) if (timeInYears < 0.5) { maturity = p + (p * r * timeInYears / 100); } else { // Quarterly Compounding Formula: A = P(1 + r/n)^(nt) where n=4 var n = 4; var ratePerCompoundingPeriod = (r / 100) / n; var totalCompoundingPeriods = n * timeInYears; maturity = p * Math.pow((1 + ratePerCompoundingPeriod), totalCompoundingPeriods); } var totalInterest = maturity – p; document.getElementById("interestEarned").innerText = "₹" + totalInterest.toLocaleString('en-IN', { maximumFractionDigits: 0, minimumFractionDigits: 0 }); document.getElementById("maturityAmount").innerText = "₹" + maturity.toLocaleString('en-IN', { maximumFractionDigits: 0, minimumFractionDigits: 0 }); document.getElementById("results").style.display = "block"; }

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