1. What is IDFC FD Calculator?

The IDFC FD Calculator helps you estimate the maturity value of your Fixed Deposit investment with IDFC Bank. It uses compound interest formula to calculate returns based on principal amount, interest rate, and time period.

2. How Does the Calculator Work?

The calculator uses the compound interest formula:

Where:

• \( P \) — Principal Amount (Initial Investment)
• \( r \) — Annual Interest Rate (%)
• \( t \) — Time Period in years

Explanation: The formula calculates compound interest where interest is added to the principal, and subsequent interest calculations are based on the accumulated amount.

3. Importance of FD Planning

Details: Fixed Deposits are safe investment instruments that provide guaranteed returns. Proper planning helps you maximize returns and achieve financial goals through disciplined saving.

4. Using the Calculator

Tips: Enter principal amount in INR, annual interest rate in percentage, and time period in years. Ensure all values are positive numbers for accurate calculations.

5. Frequently Asked Questions (FAQ)

Q1: What is the minimum deposit for IDFC FD?
A: The minimum deposit amount for IDFC Fixed Deposits typically starts from ₹10,000, but it's best to check current terms with the bank.

Q2: Are FD interest rates fixed?
A: Yes, once you book a Fixed Deposit, the interest rate remains fixed for the entire tenure regardless of market fluctuations.

Q3: What is the tenure range for IDFC FDs?
A: IDFC offers FD tenures ranging from 7 days to 10 years, allowing flexibility based on your investment horizon.

Q4: Is TDS applicable on FD interest?
A: Yes, TDS is applicable on FD interest if the annual interest exceeds ₹40,000 (₹50,000 for senior citizens) as per current regulations.

Q5: Can I withdraw my FD prematurely?
A: Yes, premature withdrawal is possible but may attract penalty charges and the interest rate may be revised to the applicable rate at the time of withdrawal.