Calculate simple interest using the formula SI = P � R � T / 100. Compare with compound interest to see why long-term wealth grows faster with compounding.
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Calculate Simple Interest
That’s ₹10,766 more than the lowest-yielding bank. Pick wisely.
| Bank | 1Y Rate | 5Y Rate | Your Maturityin 5 yrs | Senior Bonus | |
|---|---|---|---|---|---|
AU AU Small Finance Bank BEST | 7.25% | 7.75% | ₹1.47 L | +0.5% | Open FD |
IND IndusInd Bank | 7.00% | 7.50% | ₹1.45 L | +0.5% | Open FD |
IDF IDFC First Bank | 6.50% | 7.25% | ₹1.43 L | +0.5% | Open FD |
AXS Axis Bank | 6.70% | 7.00% | ₹1.41 L | +0.5% | Open FD |
ICI ICICI Bank | 6.70% | 7.00% | ₹1.41 L | +0.5% | Open FD |
HDF HDFC Bank | 6.60% | 7.00% | ₹1.41 L | +0.5% | Open FD |
SBI State Bank of India | 6.80% | 6.50% | ₹1.38 L | +0.5% | Open FD |
KMB Kotak Mahindra Bank | 6.50% | 6.20% | ₹1.36 L | +0.5% | Open FD |
Rates are indicative for general public. Add 0.5% for senior citizens. Subject to change. Affiliate links — we may earn a commission at no cost to you.
Compare all FD ratesThat’s ₹845 more than the lowest-yielding bank. Pick wisely.
| Bank | 1Y Rate | 5Y Rate | Your Maturityin 2 yrs | Senior Bonus | |
|---|---|---|---|---|---|
AU AU Small Finance Bank BEST | 7.25% | 7.75% | ₹57,727 | +0.5% | Open FD |
IND IndusInd Bank | 7.00% | 7.50% | ₹57,444 | +0.5% | Open FD |
SBI State Bank of India | 6.80% | 6.50% | ₹57,219 | +0.5% | Open FD |
AXS Axis Bank | 6.70% | 7.00% | ₹57,106 | +0.5% | Open FD |
ICI ICICI Bank | 6.70% | 7.00% | ₹57,106 | +0.5% | Open FD |
HDF HDFC Bank | 6.60% | 7.00% | ₹56,994 | +0.5% | Open FD |
IDF IDFC First Bank | 6.50% | 7.25% | ₹56,882 | +0.5% | Open FD |
KMB Kotak Mahindra Bank | 6.50% | 6.20% | ₹56,882 | +0.5% | Open FD |
Rates are indicative for general public. Add 0.5% for senior citizens. Subject to change. Affiliate links — we may earn a commission at no cost to you.
Compare all FD ratesSimple Interest (SI) is calculated only on the principal amount. It doesn't compound. SI = P � R � T / 100, where P = principal, R = rate per year, T = time in years.
Simple interest is used for short-term loans, EMI calculations for the first period, car loans in some countries, personal loans, and rural lending. Banks in India typically use compound interest for deposits.
In simple interest, interest is calculated only on principal. In compound interest, interest is calculated on principal + accumulated interest. Over time, compound interest generates significantly more returns.
That’s ₹845 more than the lowest-yielding bank. Pick wisely.
| Bank | 1Y Rate | 5Y Rate | Your Maturityin 2 yrs | Senior Bonus | |
|---|---|---|---|---|---|
AU AU Small Finance Bank BEST | 7.25% | 7.75% | ₹57,727 | +0.5% | Open FD |
IND IndusInd Bank | 7.00% | 7.50% | ₹57,444 | +0.5% | Open FD |
SBI State Bank of India | 6.80% | 6.50% | ₹57,219 | +0.5% | Open FD |
AXS Axis Bank | 6.70% | 7.00% | ₹57,106 | +0.5% | Open FD |
ICI ICICI Bank | 6.70% | 7.00% | ₹57,106 | +0.5% | Open FD |
HDF HDFC Bank | 6.60% | 7.00% | ₹56,994 | +0.5% | Open FD |
IDF IDFC First Bank | 6.50% | 7.25% | ₹56,882 | +0.5% | Open FD |
KMB Kotak Mahindra Bank | 6.50% | 6.20% | ₹56,882 | +0.5% | Open FD |
Rates are indicative for general public. Add 0.5% for senior citizens. Subject to change. Affiliate links — we may earn a commission at no cost to you.
Compare all FD ratesCalculate the future value of a one-time lumpsum investment at an expected annual return rate.
See the power of compound interest — calculate how your money grows with different compounding frequencies.
Calculate Fixed Deposit maturity amount and interest earned for any compounding frequency and tenure.