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    • Karur Vysya Bank Fixed Deposit Calculator

    KVB 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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    Karur Vysya Bank Fixed Deposit Features

    Karur Vysya Bank Fixed Deposit offers investors high interest rates at minimum risk. Following are some of the key features of a Karur Vysya Bank FD account:

    • Guaranteed Returns: KVB fixed deposit schemes offer guaranteed income at a fixed interest rate.
    • Tenure: The tenure of KVB FDs ranges from seven days to ten years.
    • Minimum Amount: The minimum amount to open a KVB FD account is INR 100.
    • Maximum Amount: There is no limit on the maximum amount of investment in Karur Vysya Bank FD. However, for KVB tax saving FD, the maximum investment is INR 1.5 lakhs.
    • Karur Vysya Bank FD rates: The Karur Vysya Bank fixed deposit interest rate ranges between 3.5% to 5.65% p.a.
    • Senior Citizens FD Rate: Karur Vysya Bank offers preferential interest rates for senior citizen depositors. The KVB FD rates range between 3.75% to 6.15%.
    • Safety: The Deposit Insurance Scheme insures the Karur Vysya Bank deposits up to INR 5,00,000.
    • Loan against FD: KVB provides its depositors with a facility to avail a loan against their FDs. The interest rate of the loan will be 1%-2% above the FD interest rate. Also, a loan against the FD allows investors to meet their financial gaps and liquidity requirements without breaking KVB FD.
    • Nomination Facility: KVB depositors can nominate beneficiaries while opening the FD account.
    • Auto-Renewal: KVB offers an auto-renewal facility of the fixed deposit account.

    What is a Karur Vysya Bank FD Calculator?

    Karur Vysya Bank (KVB) FD Calculator is a simple online tool that helps in estimating the returns from an FD investment. The FD calculator only requires simple inputs like rate of interest, investment amount, target amount, and duration in years. The output Karur Vysya Bank FD calculator aids in better financial planning.

    However, one must understand that the KVB FD Calculator only provides an estimation and doesn’t guarantee any returns. Also, the actual return might vary, and the exact maturity amount will be known only after one invested in Karur Vysya Bank FD.

    How to use Karur Vysya Bank KVB FD Calculator?

    Before making an investment decision, it’s a good idea to consider its potential returns. This allows for better investment planning. In other words, estimating returns in terms of wealth gained rather than a percentage helps individuals in planning their financial goals better. There are two ways one can estimate the returns from FD investment using Scripbox Karur Vysya Bank FD Calculator: investment amount approach and target amount approach.

    Investment Amount Approach

    Following are steps that you can follow to use the KVB FD Calculator using the Investment Amount Approach:

    • Firstly, enter the investment amount that you intend to invest in the Karur Vysya Bank FD scheme.
    • Now, with the slider, adjust the desired tenure of the Karur Vysya FD investment. For Karur Vysya Bank FD, the tenure usually varies from one to five years.
    • Then, use the slider to adjust the interest rate on the Karur Vysya Bank FD.
    • Next, select the compounding period for the Karur Vysya bank fixed deposit investment. Choose any of the following compounding frequencies: monthly, quarterly, half-yearly and yearly options. Compounding frequency refers to the number of times interest will be compounded. The frequency of payments determines the amount of interest. As a result, it must be picked with caution.
    • Lastly, select the suitable option (yes or no) under the senior citizen section. Most banks offer preferential interest rates for senior citizen depositors.

    After all the inputs are entered, the Karur Vysya Bank FD calculator automatically shows the interest and maturity amount. The Karur Vysya Bank FD calculator shows a tabular format of the interest earned each year along with the opening and closing balance. Moreover, the Karur Vysya Bank FD calculator gives a graphical representation of the initial investment and maturity amount.

    Target Amount Approach

    While the investment amount approach requires an individual to enter the investment amount, the target amount approach estimates the investment amount based on the amount one expects from the Karur Vysya Bank FD investment. Following are the steps that one needs to follow to use the Karur Vysya Bank FD Calculator using the Target Amount Approach:

    • Firstly, select how you want to receive the interest from Karur Vysya Bank FD, as a regular income or in a lump sum.
    • Secondly, enter the target amount you want to receive from the Karur Vysya Bank FD investment.
    • Lastly, enter the duration, interest rate and compounding frequency that the Karur Vysya Bank FD offers. Also, select the suitable option under the senior citizen section (yes or no).

    The Karur Vysya Bank FD calculator gives the investment amount needed to achieve the target and estimates the interest one might earn. Moreover, the Karur Vysya Bank FD Calculator shows a tabular representation of opening balance, interest earned and closing balance for each year.

    Benefits of using Karur Vysya Bank FD Calculator

    1. Individuals can make better investing decisions if they know how much money they can make from a certain investment. As a result, financial objectives are accomplished faster. The Karur Vysya Bank FD interest rate calculator assists investors in faster decision making.
    2. The interest amount from Karur Vysya Bank FD investment is affected by tenure, interest rate, compounding frequency, and investment amount. One can use the Karur Vysya Bank FD calculator to see which factor affects the interest rate the most by adjusting them and then can compare the results.
    3. There are multiple fixed deposits in the market that banks and NBFCs offer. Using the Karur Vysya Bank FD calculator, one can compare the maturity amount of different banks and NBFCs.
    4. Investors can compare the Karur Vysya Bank FD Calculator results with the returns from other investments as well. This will help them shortlist the best suitable investment option for their financial goals. For example, an investor who wants to compare the Karur Vysya Bank FD investment results with PPF can use the Scripbox PPF Calculator and Karur Vysya Bank FD Calculator.
    5. The Scripbox Karur Vysya Bank FD calculator has two approaches, namely, the investment and target amount approach. The investment amount approach is suitable for individuals who know how much they want to invest. While investors who know have a target amount that they wish to accumulate can use the target amount approach on the Karur Vysya Bank FD calculator.
    6. The Karur Vysya Bank FD calculator provides results in graphical and tabular format. These representations clearly show the opening balance, interest earned, and closing balance for each year during the entire Karur Vysya Bank FD investment tenure. Hence investors can know how much balance is remaining in their Karur Vysya Bank FD after every interest payout.

    How is Karur Vysya Bank FD Interest Calculated?

    The interest amount from Karur Vysya Bank FD investment depends on a number of factors such as investment amount, tenure of the FD, compounding frequency, and the rate of interest. One can estimate the interest earned from KVB FD using two methods, namely, simple interest and compound interest. Let us understand the interest and maturity amount calculation using both methods with the help of an example.

    Simple Interest on Fixed Deposit

    Simple interest is the amount that one earns for investing money for a predetermined period at a fixed interest rate. KVB pays simple interest for monthly, quarterly, half-yearly payouts for all its deposits.

    Formula

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

    P- Initial investment

    R- Interest rate of KVB FD (%)

    T- Tenure of the Karur Vysya Bank FD

    Example

    Ms Kirti wants to invest INR 40,000 for 10 years at an interest rate of 5.75% per annum.

    For Ms Kirti, the principal amount (P) is INR 40,000, rate of interest (R) is 5.75%, and tenure (T) is 10 years.

    Simple Interest = (INR 40,000 * 5.75 * 10 years)/ 100 = INR 23,000

    Maturity Value = Investment + Simple Interest earned during the tenure of investment

    = INR 40,000 + INR 23,000

    = INR 63,000

    Compound Interest on Fixed Deposit

    Compound interest is the income that the investor earns on the principal plus the interest accumulated so far. In simple terms, compounding means earning interest on interest. Also, the more the number of compounding periods, the higher will be the interest amount the investor receives. However, investors will gain from compounding only if they opt for payout of interest on maturity as the interest will be compounded and the wealth gained from the investment will be higher. KVB pays compound interest only on certain deposits and the interest is compounded and paid directly upon maturity.

    Formula

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

    A = Investment value at maturity

    P = Initial investment

    r = Rate of interest (in decimals)

    n = number of times interest is compounded

    t = investment duration in number of years

    Example

    Ms Kirti wants to invest INR 40,000 for ten years at an interest rate of 5.75% per annum, compounded quarterly.

    For Ms Kirti, the principal amount (P) is INR 40,000, rate of interest (r) is 5.75%, tenure (t) is ten years, and the number of compounding periods is 4 (n)

    Maturity Amount = 40,000 (1+0.0575/4) ^ (4*10)

    A (maturity amount) = INR 70,794.81

    Interest income = INR 70,794.81– INR 40,000 = INR 30,794.81

    Frequently Asked Questions

    What is the interest rate for FD in KVB?

    The Karur Vysya Bank fixed deposit interest rate ranges between 3.5% to 5.65% p.a.Also, Karur Vysya Bank offers preferential interest rates for senior citizen depositors. The KVB FD rates for senior citizens range between 3.75% to 6.15%.

    What is the highest fixed deposit interest rate for Karur Vysya Bank?

    The highest FD rate for KVB is 5.65% for a regular investor for the tenure of 3-10 years. Also, for senior citizens, the highest KVB FD interest rate is 6.15%.

    Is KVB safe for FD?

    The Deposit Insurance Scheme insures the Karur Vysya Bank deposits up to INR 5,00,000, hence Karur Vysya Bank fixed deposits are considered safe.

    Does Karur Vysya Bank provide a Loan against FD?

    KVB provides its depositors with a facility to avail a loan against their FDs. The interest rate of the loan will be 1%-2% above the FD interest rate. Also, a loan against the FD allows investors to meet their financial gaps and liquidity requirements without breaking KVB FD. The terms and conditions of the loan vary as per Karur Vysya Bank norms.

    Is there a Premature withdrawal facility available with Karur Vysya Bank?

    Karur Bank allows its investors to withdraw the deposit amount prematurely. However, KVB charges a penalty for premature withdrawal. For deposits up to INR 2 crore, the penalty is 1% on the contracted interest rate. Whereas, for deposits above INR 2 crore, the bank norms will apply. The terms and conditions of premature withdrawal depend on Karur Vysya Bank norms.

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