Fixed Deposits are risk-free. They offer returns higher than those available for savings accounts. Yet, people have varied needs and separate goals for financial targets. They want tailored plans to 'fix' large or small amounts for varying periods. Numerous banks offered scores of schemes to utilize idle funds.
FDs cater to the social need to be able to reap maximum yield. YES Bank also offers fixed deposits at reasonable rates for customers to save their money.
The practice of saving and investing efficiently requires calculations. They have been mostly taken over by software and applications. One such program is the 'Yes Bank FD Calculator.Â
The Yes Bank FD Calculator takes all the typical factors into account. It suggests a customized model of investment. Every customer can input their choices and comprehend every possible combination of the result.Â
Yes Bank FD Calculator will help the customers calculate the interest on the fixed deposit that they will deposit in the Yes Bank. Using the fixed deposit calculator, the customer will get to know how much maturity amount he will earn on the principal amount with gained interest compounded on days/monthly/quarterly/yearly basis.
Customers can easily use the YES BANK FD calculator to get the maturity value, total investment amount, and total interest on their deposit amounts. They just need to visit the insurer website, access the FD Calculator and input the required information to get the desired results.
The YES Bank has several products for its FD customers. The primary factors that impact the quantum of interest earned and the sum at the time of maturity are the investment amount, the chosen term, the compounding frequency applied, and the rate of interest.Â
Also, customers shall keep in mind that the Fixed Deposit interest rates for domestic customers and NRI’s are quoted separately at varying rates. Dynamics for senior citizens may further impact results. They are offered preferential interest 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
Domestic Term Deposits
Rates of interest on Domestic Term Deposits w.e.f. 10-05-2021 (in %Â pa) for deposits below Rs 2Crore | |||||||||||||||||
Term | Interest rates | Annualized yield | |||||||||||||||
7days-14days | 3.50 | 3.50 | |||||||||||||||
15days-45days | 3.75 | 3.75 | |||||||||||||||
46days-90days | 4.25 | 4.25 | |||||||||||||||
3months-<6months | 4.75 | 4.75 | |||||||||||||||
6months-<9months | 5.25 | 5.28 | |||||||||||||||
9months-<1year | 5.50 | 5.58 | |||||||||||||||
Special rates:
|
*Trad plans with a premium above 5 lakhs would be taxed as per applicable tax slabs post 31st march 2023
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
Rates of interest for senior citizens w.e.f. 10-05-2021 (in %Â pa) for deposits below Rs 2 Crore | |||||||||||||||||
Term | Interest rates | Annualized yield | |||||||||||||||
7days-14days | 4.00 | 4.00 | |||||||||||||||
15days-45days | 4.25 | 4.25 | |||||||||||||||
46days-90days | 4.75 | 4.75 | |||||||||||||||
3months-<6months | 5.25 | 45.25 | |||||||||||||||
6months-<9months | 5.75 | 5.79 | |||||||||||||||
9months-<1year | 6.00 | 6.09 | |||||||||||||||
Special rates:
|
Rates of interest for senior citizens for deposits Rs 2 Crore <5 Crore (%pa) | ||
Term | Existing rates (w.e.f 25/05/2021) | Revised rates (w.e.f. 01/06/2021) |
7days-14days | 3.00 | 3.00 |
15days-30days | 3.15 | 3.15 |
31days-45days | 3.40 | 3.40 |
46days-60days | 3.45 | 3.45 |
61days-90days | 3.50 | 3.50 |
91days-120days | 3.90 | 3.90 |
121days-180days | 3.90 | 3.90 |
181days-270days | 5.15 | 5.10 |
271days-<1year | 5.45 | 5.35 |
1year(12months) | 6.00 | 5.95 |
12months1day-<18months | 6.00 | 5.95 |
18months-<2years | 5.80 | 5.75 |
2years-<3years | 5.80 | 5.75 |
3years-<5years | 6.00 | 6.00 |
>5years | 6.00 | 6.00 |
Firstly, a Fixed Deposit with a term shorter than six months earns 'Simple Interest'. Funds meant for longer durations are marked for 'Compounded Interest'. It means the customer will derive additional interest on already acquired interest.
Technically, Simple Interest is a percentage of the Principal added to the Principal at regular intervals.Â
The following formula expresses it:
I = PNR (where I is the interest earned, P is the Principal, N is the period, and R is the applicable rate of interest)
The percentage of the principal amount also comprises the previously accrued interest. The Yes Bank FD Calculator determines the maturity value by compounding at a quarterly frequency.Â
Formula:
A = P (1+ R/N)^NT
Here A is the maturity amount.
P is the initially invested PrincipalÂ
R is the applicable Interest RateÂ
N is the compounding frequency in a year
T is the FD tenure
Patrons visiting the Policy Bazaar website (policybazaar.com) have a unique opportunity to use the 'Yes Bank FD Calculator. Placed conveniently at the top of the home page, the software proficiently helps in chalking out different FD schemes.Â
The 'Yes Bank FD Calculator' makes the website a one-stop shop. People looking to buy insurance policies can also calculate their FD options. They just need to enter the principal amount, select tenure, and choose the type of deposit. Clicking on the 'Calculate' button, Yes Bank FD Calculator displays the final sum receivable, i.e., maturity amount.
The 'Yes Bank FD Calculator' can be used any number of times to determine returns. Customers can relax. They can take their own sweet time to chisel out a future in peace.Â
*Trad plans with a premium above 5 lakhs would be taxed as per applicable tax slabs post 31st march 2023Today, computers and mobile devices are vastly common. Software and apps are used for almost every purpose. Technology has made long strides and has proved its worth. Use of the 'Yes Bank FD Calculator' program or app should be welcomed.Â
Still, there are other arguments besides ease and sophistication. Some of them are as follows:
The favourability of a fixed deposit depends on two significant factors: Its duration and the interest rate. Still, there are hundreds of plans involving differing interest rates and times. Finalizing a scheme or plan is just too perplexing.Â
The Yes Bank FD Calculator, available on the official Yes Bank portal, eliminates this confusion. This calculator helps guide the customer to calculate the maturity amount on the principal amount at a fixed rate of interest and tenure as the Bank offers various ranges of investment amounts at different interest rates. Using this calculator, one can compare the preferences and choose a suitable FD scheme.
The calculator clearly shows the lump sum available at the end of that particular scheme. The customer, therefore, can make the right decision by comparing as many schemes as possible.