BOI FD Calculator

BOI FD Calculator

The BOI FD Calculator helps you estimate the maturity amount and interest earnings from a fixed deposit with Bank of India (BOI). This tool is useful for individuals planning short or long-term investments with assured returns and want to know how much they will earn based on current interest rates.

How the BOI FD Calculator Works

The calculator uses basic inputs such as the principal amount, interest rate, tenure, and compounding frequency to compute the total maturity amount and interest earned. It is based on the compound interest formula and updates results instantly as you modify inputs.

Key Inputs

• Principal Amount (₹): The amount you wish to invest.
• Tenure: Duration of the fixed deposit, typically ranging from 7 days to 10 years.
• Interest Rate (%): The applicable BOI FD interest rate, depending on tenure and customer type (general/senior citizen).
• Compounding Frequency: BOI usually compounds interest quarterly.
• Customer Type: Select “General” or “Senior Citizen” to apply the respective rate.

Formula Used

A = P × (1 + r/n)^{n × t}

• A: Maturity amount
• P: Principal amount
• r: Annual interest rate (in decimal)
• n: Number of compounding periods per year
• t: Tenure in years

The interest earned is calculated as: Interest = A – P.

Example

Suppose you invest ₹1,00,000 for 3 years at 6.50% per annum (quarterly compounding), the maturity amount will be calculated accordingly, along with the total interest earned.

Benefits of Using the BOI FD Calculator

• Quick Estimation: Get real-time results without manual calculation.
• Easy Planning: Helps you plan financial goals by knowing exact maturity values.
• Rate Comparison: Adjust inputs to compare different tenures and amounts.
• Accurate Results: Based on the latest compounding method used by BOI.

Disclaimer : The results given by the above calculator are for illustration purpose only. They are often based on a number of assumptions. The results given are in no way any guarantee of the returns that will be given. Investments in stock markets and securities markets are subject to market risks and other risks. There is no guarantee of the return that will be actually given. Investment in other financial products may also be subject to market risks and other risks. There is no guarantee of the returns that will be given by them. The calculator also does not make any recommendation directly or indirectly. Please consult a registered Financial Advisor before taking any investment decision.