Icici Fd Rates Calculator

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ICICI Fixed Deposit Calculator

This calculator helps you estimate the maturity amount for your ICICI Bank Fixed Deposit (FD) based on the principal amount, tenure, and prevailing interest rates. Fixed Deposits are a popular way to save money and earn a fixed, guaranteed return over a specific period. ICICI Bank offers various FD schemes with competitive interest rates tailored to different customer needs.

How ICICI Fixed Deposit Returns are Calculated

The maturity amount of an ICICI Fixed Deposit is calculated using the compound interest formula, typically compounded quarterly by banks in India. The formula used here is:

M = P (1 + r/n)^(nt)

Where:

  • M = Maturity Amount (the total amount you receive at the end of the tenure)
  • P = Principal Amount (the initial sum you deposit)
  • r = Annual Interest Rate (expressed as a decimal, e.g., 7% becomes 0.07)
  • n = Number of times the interest is compounded per year (for most Indian banks, this is 4 for quarterly compounding)
  • t = Time the money is invested for, in years (tenure in months divided by 12)

Our calculator simplifies this by taking your inputs and applying the formula to give you an estimated maturity value. It's important to note that actual returns might vary slightly based on the exact compounding frequency and any applicable taxes or charges.

function calculateFD() { var principal = parseFloat(document.getElementById("principalAmount").value); var rate = parseFloat(document.getElementById("interestRate").value); var tenureMonths = parseFloat(document.getElementById("tenureMonths").value); var resultDiv = document.getElementById("result"); if (isNaN(principal) || isNaN(rate) || isNaN(tenureMonths) || principal <= 0 || rate < 0 || tenureMonths <= 0) { resultDiv.innerHTML = "Please enter valid positive numbers for all fields."; return; } var annualRateDecimal = rate / 100; var tenureYears = tenureMonths / 12; var n = 4; // Assuming interest is compounded quarterly // Calculate maturity amount using compound interest formula var maturityAmount = principal * Math.pow((1 + annualRateDecimal / n), (n * tenureYears)); // Calculate total interest earned var totalInterest = maturityAmount – principal; // Display the results resultDiv.innerHTML = "Principal Amount: ₹" + principal.toFixed(2) + "" + "Annual Interest Rate: " + rate.toFixed(2) + "%" + "Tenure: " + tenureMonths + " months" + "Estimated Maturity Amount: ₹" + maturityAmount.toFixed(2) + "" + "Total Interest Earned: ₹" + totalInterest.toFixed(2) + ""; }

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