Bank of India Fixed Deposit (FD) Interest Calculator

How does the Bank of India FD Calculator Work?

Bank of India provides various fixed deposit options from which the customer can choose depending upon their needs and convenience. Different FD options are – Short Deposits, Double Benefit Deposit, Monthly Deposit, Quarterly Deposit, and Star Sunidhi Tax-Saving Deposit.

Each Deposit is designed for a different type of customers and organizations to use fixed Deposit as an investment tool for their money and safeguarding their money. The FD rates for different deposits are given in detail in the tables below:

For Domestic Deposits:

Tax Saver Fixed Deposits:

Bank FD Interest Rates

Bank FD Calculator

NRI-NRE FD Rates

Allahabad Bank FD Interest Rates

Andhra Bank FD Interest Rates

Assam Gramin Vikash Bank FD Interest Rates

AU Small Finance Bank FD Interest Rates

Axis Bank FD Rates

Bajaj Finance FD Interest Rates

Bandhan Bank FD Interest Rates

Bangiya Gramin Vikash Bank FD Interest Rates

Bank of Baroda FD Interest Rates

Bank of Ceylon FD Interest Rates

Bank of India FD Interest Rates

Bank of Maharashtra FD Interest Rates

Baroda Gujarat Gramin Bank FD Interest Rates

Canara Bank FD Interest Rates

Capital Small Finance Bank FD Interest Rates

Central Bank of India FD Interest Rates

Citibank FD Interest Rates

City Union Bank FD Interest Rates

Corporation Bank FD Interest Rates

Dakshin Bihar Gramin Bank FD Interest Rates

DBS Bank FD Interest Rates

Dena Bank FD Interest Rates

Dhanlaxmi Bank FD Interest Rates

Equitas Small Finance Bank FD Interest Rates

ESAF Small Finance Bank FD Interest Rates

HDFC Bank FD Interest Rates

HSBC FD Interest Rates

ICICI Bank FD Interest Rates

IDBI Bank FD Interest Rates

IDFC First Bank FD Interest Rates

Indian Bank FD Interest Rates

Indian Overseas Bank FD Interest Rates

IndusInd Bank FD Interest Rates

Jana Small Finance Bank FD Interest Rates

Karnataka Bank FD Interest Rates

Kerala Gramin Bank FD Interest Rates

Kotak Mahindra Bank FD Interest Rates

Lakshmi Vilas Bank FD Interest Rates

Muthoot Capital

Nainital Bank FD Interest Rates

Odisha Gramya Bank FD Interest Rates

Paschim Banga Gramin Bank FD Interest Rates

Paytm Payments Bank FD Interest Rates

PNB FD Interest Rates

Prathama UP Gramin Bank FD Interest Rates

RBL Bank FD Rates

Saurashtra Gramin Bank FD Interest Rates

SBI FD Interest Rates

Shriram Finance FD Interest Rates

State Bank of Hyderabad FD Interest Rates

State Bank of Mysore FD Interest Rates

State Bank of Travancore FD Interest Rates

Syndicate Bank FD Interest Rates

Tamil Nadu Grama Bank FD Interest Rates

Telangana Grameena Bank FD Interest Rates

Tripura Gramin Bank FD Interest Rates

UCO Bank FD Interest Rates

Ujjivan Small Finance Bank FD Interest Rates

Union Bank of India FD Interest Rates

Uttar Bihar Gramin Bank FD Interest Rates

Uttarakhand Gramin Bank FD Interest Rates

Vijaya Bank FD Interest Rates

Yes Bank FD Interest Rates

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Allahabad Bank FD Calculator

Andhra Bank FD Calculator

AU Bank FD Calculator

Axis Bank FD Calculator

Bajaj Finance FD Calculator

Bandhan Bank FD Calculator

Bank of Baroda FD Calculator

Bank of Maharashtra FD Calculator

Canara Bank FD Calculator

Central Bank FD Calculator

Corporation Bank FD Calculator

Equitas Small Finance Bank FD Calculator

HDFC Bank FD Calculator

ICICI Bank FD Calculator

IDBI Bank FD Calculator

IDFC Bank FD Calculator

Indian Bank FD Calculator

Indian Overseas Bank FD Calculator

IndusInd Bank FD Calculator

Karnataka Bank FD Calculator

Karur Vysya Bank FD Calculator

Kotak Bank FD Calculator

Mahindra Finance FD Calculator

OBC Bank FD Calculator

Odisha Gramya Bank FD Calculator

PNB Bank FD Calculator

SBI FD Calculator

Shriram Finance FD Calculator

Syndicate Bank FD Calculator

Tripura Gramin Bank FD Calculator

UCO Bank FD Calculator

Union Bank FD Calculator

Yes Bank FD Calculator

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HDFC NRE FD Rates

Maybank Malaysia FD Rates

SBI NRI FD Rates

Axis NRI FD Rates

Maybank Singapore FD Rates

Yes Bank NRI FD Rates

NRO Fixed Deposits:

In the chart above, the interest rates provided for various amounts are mentioned in detail. Customers can evaluate interest rates for their destined amount by using the information that is provided in the table above.

Simple Interest vs Compound Interest

Simple Interest and Compound Interest plays their part differently depending upon the period of time that the customer chooses. Simple Interests add benefits to Fixed Deposits less than 6 months of time. Interest is the percentage of the “principal” or the initial amount added to the principal over a defined period. Two types of interests are – Simple Interest and Compound Interest.

The types of interests are discussed in detail below:

• Simple Interest: It is the percentage of the principal added to the principal regularly on the defined period. The formula for simple interest is:

I = (P* R* T)/100 , where,

• I, Interest
• P, Principal
• n, period and
• r, rate of interest.

• Compound Interest: The percentage of the principal amount also comprises the previously accrued interest. The formula for Compound Interest is,

The Bank of India FD Calculator determines the maturity value where the compounding frequency is quarterly. The formula below explains in detail how interests are calculated for deposits.

A = P *(1+ r/n) ^ (n*t), where,

• Pis principal
• Ais maturity amount
• ris the rate of interest
• nis period
• tis FD tenure

How to use Policybazaar BOI FD Calculator?

The Bank of India FD Calculator needs a set of basic information about the individual and the deposit amount of the individual. The calculator can be used by visiting the official online portal of the bank. Suppose the user chooses an FD calculator for accessing the Bank of India's FD calculations. In that case, similar steps are to be followed while using the calculator on the bank's official website. Every step followed for using the FD Calculator is easy and simple.

Steps that are needed for using the Bank of India FD Calculator is given below:

• Visit the PolicyBazaar official portal and click on the “FD Calculator”.
• Select Bank of India FD Calculator.
• Enter the principal amount for depositing purpose.
• Choose a period of time for which the amount will be deposited.
• Select the type of Deposit that suits the depositor's needs.
• Finally, click on the “Calculate” button.
• The interest amount for the depositing amount will be displayed on the screen.
• Suppose the depositor needed to change the value of the depositing amount or period of Deposit. In that case, they could refresh and follow the same steps with different time periods.
• Since the Bank of India, Deposit rates calculator is free of charge, and it can be used n number of times. The depositor can use it, again and again, to differentiate and decide which amount to deposit.

Advantages of using Bank of India FD Calculator

Bank of India FD Calculator is available online and free to use.  There are many advantages to using the online FD Calculator. Some of the benefits of the calculator are listed below:

• The depositor can choose between various deposit plans and finalize the deposit amount and time period for their Deposit based on their needs.
• Bank of India FD Calculator is available online and is free to use.
• It can be used a number of times.
• The depositor can choose the interest payout option as monthly, yearly, Half-Yearly or Quarterly.
• The depositor can get a clear idea of how interest rates work in a particular deposit.
• The depositor can get the correct interest amount that will be paid.
• Saves a lot of time for the customer.
• The process is easily accessible and can be used from anywhere and at any time.
• Saves a lot of paperwork for the customer.
• Safeguards customer’s money while earning more money for their existing money.

There are even more advantages to using the FD Calculator. The main objective for the Bank of India deposit rates Calculator is to help the investor choose a deposit that suits their needs the best.

FAQs: