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Features of Karnataka Bank Fixed Deposit
- Returns: One of the key features of the Karnataka Bank FD scheme is that it offers great amounts of returns, which are guaranteed. The investors need not worry about the return amount or anything, as it is completely guaranteed to the customers and offered at a quite reasonable rate.
- Tenure: The Karnataka Bank FD schemes offer time frames that are quite convenient for the customers. The period ranges from 7 days to 10 years, allowing investors to choose what best suits their needs.
- Minimum amount: The minimum amount needed to create an FD account is as low as Rs. 100. Therefore, investors who are financially not very stable and still choose to create an FD account in the Karnataka Bank can easily do so by depositing just INR 100.
- Maximum amount: The maximum amount limit to create an FD account in Karnataka Bank is not fixed. It can be anything for the convenience of the customers.
- Loan against FD: The Karnataka Bank also provides the facility of loan against FD to its users. This loan facility makes it helpful for customers to meet their financial goals in a hassle-free manner. It makes it convenient for customers to seek money from their fixed deposit any time they want during times of emergency.
Benefits of Karnataka Bank Fixed Deposit Interest Calculator
- The Karnataka Bank FD interest calculator helps investors to estimate the returns they are going to get on maturity, easily and quickly. It also helps investors to make informed investment decisions.
- There are various maturity periods offered by various banks across the world. Thus, with the use of the Karnataka Bank FD interest calculator, customers can compare the maturity period of different banks and make the correct decision.
- The investments in the Karnataka Bank are affected by various factors. With the help of the Karnataka Bank FD interest calculator, we can see which factor affects the investments most and thus compare the results.
- The Karnataka Bank FD calculator also helps to calculate the returns we get from different investment options. It is helpful because it lets us compare the different return amounts and thus helps us decide as to which one is the best investment option to get a high amount of return.
How is Karnataka Bank FD Interest Rate Calculated?
In the Karnataka Bank, the investment depends upon various factors. These factors range from the investment amount, tenure of investment, rate of interest, and many more. The Karnataka Bank FD interest rates calculator helps to calculate the interest on various investments, and that is done using two methods: simple interest and compound interest.
The formula used while calculating interest rate through simple interest is:
Simple interest= (P*R*T)/100
Here, P is the Principal amount invested.
R is the rate of interest of the Karnataka Bank FD.
T is the Tenure (duration for which the deposit is kept in the FD account).
Apart from this, there’s also a compound interest formula used for calculating interest rates offered by Karnataka Bank FD. The formula is:
A = P (1+r/n)^ (n*t)
Here, A is the value of the investment at the time of maturity.
r is the rate of interest offered by Karnataka Bank FD.
n is the total number of times.
t is the period in years.
Thus, using these two methods of simple interest and compound interest, the Karnataka Bank FD interest rates are calculated.
What are Karnataka Bank FD Interest Rates?
Highest slab rate | Interest rates |
1 year | 7.00% |
2 years | 7.00% |
3 years | 6.50% |
4 years | 6.50% |
5 years | 6.50% |
Tax saving FD | 6.50% |
Karnataka Bank FD Calculator : FAQs
The minimum period for the IndusInd Bank FD is 7 days.
The maximum period for the Karnataka Bank FD is 10 years.
The highest rate offered to regular citizens under the Karnataka Bank FD scheme is 7.00% per annum for a period of 1 year to 2 years.
The lowest rate offered to regular citizens under the Karnataka Bank FD is 6.50% per annum for a period of 1 year to 2 years.
No, there is no such limit to the maximum amount that can be invested in the Karnataka Bank FD.