FD calculator

The ICICI Bank FD Calculator is a user-friendly tool designed to help customers estimate the interest earned on their Fixed Deposit (FD). By inputting the investment amount, tenure, and applicable interest rate, customers can easily calculate the potential returns on their deposit.

ICICI Bank’s FD Calculator is a simple and efficient tool to estimate your Fixed Deposit returns. The calculator needs only basic information from you, i.e., the FD amount and the FD tenure. The rate of interest is automatically filled. The calculator quickly calculates the expected returns on the FD and helps you save time when comparing various FD plans to choose one.

It also eliminates the need for time-consuming manual calculations and ensures more precise results. It helps in better financial planning by providing a clear picture of how your investment will grow over time. 

Using the FD Calculator is simple:

• Choose your customer type (Normal or Senior Citizen).
• Select the FD type (Cumulative or Interest Payout: Monthly or Quarterly).
• Input the FD amount and tenure (in Years or Months or Days or Days only).
• The calculator will display the interest rate, interest amount, maturity date, and final maturity value.

Interest is calculated based on the FD tenure and the prevailing interest rate at the time of opening the FD.

• Cumulative FD: Interest compounded, i.e., reinvested into the principal quarterly

• Quarterly Payout FD: Simple interest paid at the end of each quarter

• Monthly Payout FD: Interest paid at a discounted value monthly

• Short-term FD: Interest calculated and paid on simple interest basis.

The minimum amount to open a Fixed Deposit with ICICI Bank is ₹10,000. For a Recurring Deposit, the minimum opening amount is ₹500 and subsequent deposits can be in multiples of ₹100 per month.

ICICI Bank offers flexible tenures from 7 days – 10 years.

Eligible applicants include:

Individuals:

• Residents

• Non-Resident Indians

• Minors with guardianship.

Entities:

• Sole Proprietorship Firms

• Hindu Undivided Families (HUFs)

• Partnership Firms

• Limited Companies

• Trust Accounts.

You can open an ICICI Bank FD anytime, anywhere through ICICI Bank's iMobile app or Net Banking. You can also open an FD by visiting any ICICI Bank Branch or ATM or by calling our Customer Care on 1800 1080.

ICICI Bank’s FD Calculator is a simple and efficient tool to estimate your Fixed Deposit returns. The calculator needs only basic information from you, i.e., the FD amount and the FD tenure. The rate of interest is automatically filled. The calculator quickly calculates the expected returns on the FD and helps you save time when comparing various FD plans to choose one.

It also eliminates the need for time-consuming manual calculations and ensures more precise results. It helps in better financial planning by providing a clear picture of how your investment will grow over time. 

An online FD Calculator helps you estimate the maturity amount and total interest on your Fixed Deposit before investing.

Key advantages include:

• You can compare returns across different tenures and amounts instantly
• There is no manual calculation required
• You can plan your investments based on your financial goals
• You can evaluate multiple scenarios by adjusting the deposit amount and tenure.

Use the FD Calculator on ICICI Bank's official website for a precise estimate.

The FD maturity amount is calculated using the compound interest formula:

A = P × (1 + r/n)^(n×t)

Where:

• A is the maturity amount
• P is the principal
• r is the annual interest rate
• n is the number of times interest is compounded per year
• t is the tenure in years.

For cumulative FDs, the interest is compounded annually. You can use ICICI Bank's FD Calculator to get an accurate maturity amount by entering your deposit amount, tenure and customer category.

Yes, for cumulative Fixed Deposits (where you receive the interest at maturity), interest is compounded annually. This means interest is calculated every year and added to the principal, with the next year’s interest calculated on the higher amount. For non-cumulative FDs (monthly, quarterly or annual payout options), the interest is paid out at the chosen frequency rather than being compounded. ICICI Bank's FD Calculator accounts for annual compounding when showing maturity amounts.

To calculate the monthly interest on a Fixed Deposit, use the simple interest formula:
Monthly Interest = (Principal × Annual Interest Rate) ÷ 12
For example, on a principal of ₹5 lakh at an applicable annual rate, dividing the annual interest by 12 gives you the monthly payout amount. ICICI Bank's Monthly Payout Fixed Deposit offers this option. Use the FD Calculator to estimate the monthly interest for your chosen amount and tenure.

Note: *Interest rates are subject to change. Use the FD Calculator for precise estimates.

Yes. ICICI Bank's Fixed Deposits are available for tenures starting from 7 days. You can open an FD for 7 days, 15 days, 30 days, 1 month, 3 months or any other tenure within the permissible range of 7 days to 10 years. The minimum deposit amount is ₹10,000. Note that very short-term FDs may attract a lower interest rate than longer-tenured deposits. Please check the applicable rates on ICICI Bank's FD Interest Rates page.

No. ICICI Bank's Fixed Deposits are available for a maximum tenure of 10 years. You cannot book an FD for 20 years. If you are looking for long-term savings options beyond 10 years, you may consider other investment products. For guidance on long-term investment planning, please contact your ICICI Bank Relationship Manager or Customer Care at 1800 1080.

A short-term Fixed Deposit typically refers to an FD with a tenure ranging from 7 days to less than 1 year. It can be useful when you want to park surplus funds for a short period while earning a fixed return. Short-term FDs offer liquidity and capital safety. However, the interest rates on short-term FDs may be lower than those on longer-tenure deposits. You can open a short-term FD through ICICI Bank Net Banking or ICICI Bank's iMobile app with a minimum deposit of ₹10,000.

The returns on a Fixed Deposit of ₹1 lakh, ₹2 lakh, ₹5 lakh or ₹10 lakh for 1 year depend on the interest rate applicable at the time of booking. For a cumulative FD, the interest is compounded annually and paid at maturity. For a non-cumulative FD, the interest is paid out monthly, quarterly or annually. Use ICICI Bank's FD Calculator to get a precise estimate of the maturity amount and interest for your chosen principal and tenure.

Note: *Interest rates are subject to change. The calculated amount is indicative and based on the rate prevailing at the time of calculation.

Yes. ICICI Bank allows premature closure of Fixed Deposits. However, a premature withdrawal penalty may apply, resulting in an effective interest rate lower than the originally contracted rate. Certain FD types, such as the Tax Saver Fixed Deposit, cannot be closed before the mandatory lock-in period of 5 full financial years. To initiate a premature FD closure, you can log in to ICICI Bank Net Banking or ICICI Bank's iMobile app under the Deposits section.

FD interest is taxable as per your applicable income tax slab rate and must be reported under “Income from Other Sources.” TDS is deducted at 10% if PAN is provided when total FD interest exceeds ₹50,000 in a financial year (₹1,00,000 for senior citizens).

If PAN is not submitted, TDS is deducted at a higher rate as per the Income Tax rules. Customers whose total income is below the taxable limit can submit Form 121 (earlier Form 15G (general category) or Form 15H (senior citizens))to save TDS deduction. However, FD interest remains fully taxable even if TDS is not deducted.

You can request that TDS not be deducted on your FD interest by submitting Form 121 (earlier Form 15G (for individuals below 60 years whose total income is below the taxable limit) or Form 15H (for senior citizens aged 60 years and above)). These forms can be submitted through ICICI Bank Net Banking or ICICI Bank's iMobile app. Note that submitting these forms does not exempt your FD interest from income tax, it only saves TDS deduction at source. You must still declare the interest income while filing your Income Tax Return.