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  • Axis Bank Fixed Deposit Calculator

Axis Bank FD Calculator

Calculate FD Returns

Investment Amount
₹ 
Investment Duration
Interest Rate
 %

After 5 years, you will have

₹ 15,105

that’s ₹ 5,105 earned as interest

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Note: All projections are based on historical averages. Learn More

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Axis Bank Fixed Deposit Features

  • Guaranteed Returns: Axis Bank deposit schemes offer guaranteed income at a fixed interest rate.
  • Tenure: The fixed deposits tenure ranges from seven days to ten years
  • Minimum Amount: The minimum amount to open an Axis Bank FD account is INR 10,000.
  • Maximum Amount: There is no limit.
  • Axis Bank FD rates: The Axis bank fixed deposit interest rate ranges between 2.50% to 5.50% p.a.
  • Senior Citizens FD Rate: Axis bank offers preferential interest rates to its senior citizen depositors. The Axis Bank FD rates range between 2.50% to 6.05%.
  • Safety: The Deposit Insurance Scheme insures the Axis Bank deposits up to INR 5,00,000.
  • Loan against FD: Axis Bank provides its depositors with a facility to avail a loan against their FDs. This allows investors to meet their financial gaps without having to withdraw or break the deposit.
  • Nomination Facility: Axis Bank depositors can nominate beneficiaries while opening the account.
  • Auto-Renewal: Axis bank offers an auto-renewal facility of the fixed deposit account.
  • Convenience: Depositors can open and manage their FD scheme investments at their convenience. In other words, they can open the deposit account either through online banking or by visiting the nearest bank branch.
axis bank fd calculator

What is an Axis Bank FD Calculator?

Axis Bank FD calculator is an online easy-to-use tool that helps you estimate the interest and maturity amount on your FD investment. You need to enter the investment amount, rate of interest, tenure, compounding frequency, and payout period. The calculator will process this information and provide the estimated maturity amount and wealth gained or interest amount. 

This way you can estimate whether or not the FD investment options fulfill your investment goals. You can adjust the various input values on the calculator to get the most appropriate combination of inputs for your investment. 

How to use an Axis Bank FD Calculator?

To use the Axis Bank FD calculator you must keep the input values handy. All you need to do is enter the input values and the calculator will provide the results. Along with the estimated amount the calculator also provides a graphical representation of the maturity and interest amount every year-end. You can also view the results in a tabular format wherein you can view the opening balance, interest earned and closing balance at the end of each year. 

Moreover, you can use the Axis FD calculator in 2 ways. Firstly, you can know the estimated maturity amount using the investment amount method. Secondly, you can use the target amount approach. In this approach, you need to provide the target amount of maturity you want to earn with your investment. The calculator will provide how much you need to invest today to earn the target amount. 

Investment Amount Approach

This is the traditional approach of using an FD calculator to estimate the returns. This approach is a better way to estimating when you have a lump sum amount in hand or you have already decided what amount you want to invest. 

You need to follow the following steps to use the investment amount approach:

  1. Enter the principal FD investment amount 
  2. Provide the investment duration in years or months of investment. To enter an investment duration such as 2.5 years enter the total number of months i.e. 30 months.
  3. Provide the FD interest rate
  4. Select the compounding period i.e. monthly, quarterly, half-yearly, or yearly. 

Once you enter these details the Axis fixed deposit calculator will provide the estimated maturity amount and interest to be earned.

Target Amount Approach

The target amount approach is a back-calculation method. Here you provide the amount you want to earn as the maturity amount. The calculator will provide the principal amount you should invest today. This approach is helpful if you already have an expense coming in the future and you wish to invest today to cover the future expense. This way you will ensure that you have invested the appropriate amount and avoid any surprises 

You need to follow the following steps:

  • Firstly, Provide the target maturity amount of FD
  • Secondly, Enter the investment duration in years or months. 
  • Thirdly, Enter the rate of interest on FD
  • Lastly, Select the compounding period i.e. monthly, quarterly, half-yearly, or yearly. The compounding period is the payout tenure of the fixed deposit. The interest earned on FD depends on the compounding period. Hence, provide this detail carefully.

The calculator will provide the principal investment amount you must invest today to achieve the target maturity amount on the maturity date.  

Benefits of Using an Axis Bank FD Calculator

  1. The foremost factor to consider while investing in any investment option is whether the investment option helps you achieve your investment objective or not. While you are considering FD investment you must also know the maturity amount in advance. This will help you in making a well-informed decision. Axis Bank FD calculator helps you in knowing the maturity value in advance. By using the calculator you can decide whether or not to invest. 
  2. Now that you know you want to invest in FD the second consideration is to find that combination of factors for your investment. For example- what should be the tenure, should the compounding be monthly or quarterly, should you opt for a regular payout or not. And what will be the effect of these factors on your effective returns? With the help of the Axis FD calculator, you can easily adjust these factors and find out which factors affect your returns and by how much. Finally, you will be able to decide on all such factors. 
  3. Different banks provide different interest rates for the same tenure. By using the Scripbox FD calculator you can easily compare the maturity amount for different banks. You must invest your money with a bank that provides the highest return. You can also visit our blog on FD interest rates to know the interest rates offered by different banks. 
  4. There are multiple alternatives to FD investment in India. Scripbox provides a return calculator for each of the investment alternatives. Scripbox provides multiple calculators for different investment options like PPF calculator, ELSS calculator, and so on. You can compare the returns for the same investment amount under different alternatives and then invest. 

How is Axis Bank FD Interest Calculated?

You can calculate Axis fixed deposit interest using 2 methods i.e. simple interest and compound interest. The calculation of the interest amount depends on factors such as investment amount, interest rate, tenure, compounding frequency, and interest payout.  

Simple Interest on Axis Bank FD 

Simple interest is the interest earned on the investment amount for a given period of time at a predetermined interest rate. If the tenure of the fixed deposit is less than 6 months or 181 days then the interest in Axis Bank Fd is calculated using the simple interest method

Simple Interest Formula- (P * R * T)/ 100

Where,

P = Principal amount of investment

R = Rate of FD Interest (%)

T = Tenure of investment 

Let us understand the calculation with the help of an example

Mr. Sanjay invests Rs 400,000 in a fixed deposit on 1st January 2021 for a maturity period of 120 days at an interest rate of 10% per annum. 

Here, 

P (the investment amount) = Rs 400,000

R (rate of interest) = 10% per annum

T (tenure) = 120 days 

Maturity Date = 30th April 2021

Simple interest = (P * R * T)/ 100

                         = (Rs 400,000 * 10 * 120 days) / 100 * 365 days

                         = Rs 13,150

Maturity amount on FD = Principal Investment Amount + Interest Earned

                                      = Rs 4,00,000 + Rs 13,150

                                      = Rs 4,13,150

Compound Interest on FD

Compound interest is the interest earned on the principal amount invested and the interest earned. The interest rate is raised to the number of periods (years) for which the interest will be compounded and multiplied to the principal amount invested. 

For a higher compounded interest amount the tenure is the most important and deciding factor. Higher the tenure and compounding frequency higher will be the interest amount and maturity amount. Moreover, a frequent/ periodic payout of interest amount leads to a lower interest amount. While an FD with a payout of interest on maturity will lead to a higher wealth gain. 

The Axis Bank fixed deposit provides a compounded interest rate only if the tenure of the fixed deposit is more than 6 months or 181 days. It provides flexibility in choosing the compounding frequency as monthly, quarterly, half-yearly, and yearly. Moreover, an FD with compound interest is a better investment option than an FD carrying simple interest. 

Compound Interest Formula

A = P (1+r/n) ^ (n * t)

A = Maturity Amount

P = Principal amount invested

r = Rate of Interest (in decimals)

n = number of compounding in a year

t = number of years

Example

Mr. Anil invests Rs 70,000 for a period of 4 years at a rate of interest of 12% per annum compounded quarterly. 

Here,

Principal amount = Rs 70,000

Interest Rate = 12% per annum compounded half-yearly

Number of compounding in a year = 4 (once every 3 months)

Number of years of investment is 4 years

Total compounding = 4 quarter * 4 years = 16 compounding

A = 70,000 (1+0.12/4) ^ (4*4)

A = Rs 1,12,329

Interest amount = Rs 1,12,329 – Rs 70,000 = Rs 42,329

Frequently Asked Questions

Is Axis Bank Safe for FD?

Yes, Axis bank FD is safe. An investment in a fixed deposit with Axis bank is safe as the interest is predetermined and guaranteed. Moreover, the Deposit Insurance and Credit Guarantee Corporation insures a fixed deposit of up to Rs 5 lakhs. This means that in a case of default the DICGC will cover any losses borne by the investors. Further Axis Bank is well rated by the credit agencies in India like CRISIL and CIBIL

Does Axis Bank provide simple interest on fixed deposits?

Yes, the interest on a fixed deposit with a tenure of fewer than 6 months is calculated at simple interest. To calculate the simple interest the number of days is considered. A fixed deposit with a tenure of more than 6 months is compounded quarterly. The interest earned during the last quarter is added to the principal amount to calculate the compound interest. In the case of a monthly interest payout FD the interest is calculated at a discounted rate over the standard rate. However, in the case of a quarterly payout FD the interest is calculated quarterly.

What is the highest FD rate for Axis Bank?

The highest Axis Bank FD interest rate is 5.50% for a regular investor for the tenure of 5-10 years. Also, for the same tenure, the senior citizen FD interest rate is 6.0%.Returns from Axis Bank fixed deposits can be calculated using Axis Bank FD calculators. One can use Scripbox’s Axis Bank fixed deposit calculator to calculate an FD investment’s maturity amount. Also, it is available online and is free to use.

Does Axis Bank provide Loan against FD?

Investors can avail loan against their Axis Bank FD. Hence, Axis Bank provides an opportunity for the investors to meet their liquidity requirements without breaking their Axis Bank FD. An investor can get up to 85% of the deposit amount as a loan against the Axis Bank FD. The minimum loan amount is INR 25,000, and the interest will be 2% above the prevailing Axis Bank FD interest rate.

Axis Bank gives loans such as education loans, business loans and loans against property against their FDs. Using an EMI calculator, one can estimate their loan EMI amount. Scripbox’s loan EMI calculator works as a car loan EMI calculator, home loan EMI calculator, and personal loan EMI calculator. Moreover, the investor can use Scripbox’s EMI calculator in multiple scenarios. They can do so by changing the car loan, personal loan and home loan interest rate.

Is there a Premature withdrawal facility available with Axis Bank?

Axis bank allows its investors to withdraw the deposit amount prematurely. However, Axis Bank charges a penalty for premature withdrawal. The penalty of 1% is charged on the interest. However, there is no penalty on premature withdrawal for NRE term deposits.

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