Use this Citibank Fixed Deposit Calculator to calculate the returns at the maturity of your Citibank Fixed Deposits. All you need to do is enter the invested amount, the annual interest rate, and the tenure in the designated sections.
| Maturity Date | : |
| Invested Amount | : ₹10,000 |
| Interest Amount | : ₹666 |
| Maturity Amount | : ₹10666 |
Citibank Fixed Deposit Calculator Online
Citibank has been successfully acquired by Axis Bank, another well-known private sector bank in March 2023. The existing Fixed Deposit customers will not face any changes, the new customers will have to open Fixed Deposit Accounts with Axis Bank. The rates will be according to the Axis Bank FD rates.
Citibank does not offer any FD calculator on their website. You can use the Online FD calculator to calculate the maturity amount of your Citibank FD.
A Citibank FD offers competitive interest rates up to 7.10% annually for general investors and 7.60% annually if you a senior citizen. Use the FD calculator given above to get quick insights into your fixed deposit's maturity value and make informed investment decisions.
How Can Citibank FD Calculator Help
The FD Calculator is a valuable tool that offers personalized solutions for your Citibank FD. Here’s how it benefits you:
- Strategic Investment Planning: Easily plan for both short-term and long-term FD investment goals, ensuring a well-thought-out approach.
- Efficiency Boost: Streamline your financial planning by saving time and effort through the use of the FD calculator, eliminating the need for tedious manual calculations.
- Comparative Analysis: Quickly compare various deposit options, facilitating the identification of the most suitable one aligned with your financial objectives and preferences.
- Precision and Reliability: Receive accurate and dependable results, reducing the likelihood of human errors and providing trustworthy guidance.
How to Use Citibank FD Calculator
Optimize your financial planning with the Citibank FD Maturity Calculator. Easily gain insights into your investment by following these straightforward steps:
- Step 1: Enter your deposit amount.
- Step 2: Enter the interest rate.
- Step 3: Input the investment tenure in years.
- Step 4: Instantly view the results!
Citibank FD Rates
Depending on the tenure option selected, Citibank Domestic Fixed Deposit interest rates can change. The various interest rates that Citibank FD offers for various tenures under Rs. 2 crore are shown in the table below:
| Tenure | Interest Rates (p.a.) for General Investors |
Interest Rates (p.a.) for Senior Citizens |
|---|---|---|
| 7 days to 14 days | 3.00% | 3.50% |
| 15 days to 29 days | 3.00% | 3.50% |
| 30 days to 45 days | 3.50% | 4.00% |
| 46 days to 60 days | 4.25% | 4.75% |
| 61 days <3 months | 4.50% | 5.00% |
| 3 months <4 months | 4.75% | 5.25% |
| 4 months <5 months | 4.75% | 5.25% |
| 6 months <7 months | 5.75% | 6.25% |
| 7 months <8 months | 5.75% | 6.25% |
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Note: Rates are subject to change; verify with the bank for the latest information before making investment decisions.Scheme-wise Citibank Fixed Deposits Interest Rate
Citibank, now acquired by Axis Bank, offers a variety of fixed deposit schemes is now available, each offering unique features and interest rates. A complete understanding of these rates is important for shaping your investment strategy. Here's an overview of the current interest rates:
| Citibank/ Axis Bank FD Schemes | Interest Rates (p.a.) |
|---|---|
| Digital Fixed Deposit | 5.00%-6.00% |
| Express Fixed Deposit | 5.00%-6.00% |
| Tax Saver Fixed Deposit | 6.10%-6.85% |
| Fixed Deposit Plus | 6.10%-6.85% |
| Regular Fixed Deposit | 3.00%-7.75% |
| Auto Fixed Deposits | 3.00-7.10% |
To check Axis bank Fixed Deposit Schemes for NRIs, go to Axis bank FD calculator.
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Formula to Calculate Citibank FD Maturity Amount
There are two methods to calculate the maturity amount of fixed deposits: manual computation and utilizing an online FD calculator. The formula employed by the calculators for determining the maturity amount is as follows.
A=P (1+r/n)n * t
Where,
A = maturity amount,
P = principal amount,
r = annual interest rate,
n = number of times interest is compounded per year,
t = tenure in years.
Example:
Let's look at a ₹50,000 fixed deposit kept for three years at a Citibank FD with a 3.5% annual interest rate that is compounded quarterly. Applying the values in the equation:
A = 50,000 * [1 + 0.035/4]^(4*3) ]
Calculating the value:
A = ₹55,510
So, after 3 years, a ₹50,000 Fixed Deposit in an Citibank, with a 3.5% annual interest rate compounded quarterly, will grow to about ₹55,510.
Citibank FD Interest Calculation
It is important to understand how Citibank Fixed Deposit interest works so you can make smart financial decisions. In order to calculate compound interest, you need to use the following formula:
Total Interest = Maturity Amount - Principal Amount
Based on the previous calculation, the total interest can be calculated as follows:
Total Interest = ₹55,510 - ₹50,000
Total Interest = ₹5,510
The total interest earned on the ₹50,000 Fixed Deposit in an Citibank, with a 3.5% annual interest rate compounded quarterly for 3 years, is ₹5,510.
Advantages of Using Citibank FD Calculator
Buddy Loan's FD Calculator designed for Citibank FDs, a user-friendly resource that aids your financial strategy. Get precise computations and make well-informed decisions to maximize your fixed deposit investments. Explore its unique benefits on your financial journey.
- Precision: Using an online FD calculator for your Citibank FD can provide accurate calculations, ensuring precise estimates of interest and maturity amounts.
- Flexibility: You can input your Citibank FD details into the online FD calculators, and explore different investment scenarios, tenures, and interest rates.
- Convenience: Online FD calculators offer a convenient alternative for users to assess potential returns on your Citibank Fixed Deposits.
- Comparison: Users can compare Citibank FDs with those of other banks using an online FD calculators, aiding in informed decision-making.
- Time-Saving: FD calculators save time and provide quick and efficient results with no manual computations.
- Accessibility: Being available online, FD calculators are easily accessible, allowing users to perform calculations at their convenience.
Check other Banks FD Calculators from below:
Also, check Small Finance Banks FD Calculators from below:
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Frequently Asked Questions
The current highest interest rate on Citibank FD is 7.10% p.a. This rate is subject to change. It's advisable to check with the bank for the latest interest rates on Citibank FD.
The minimum amount of investment for FDs under Citibank is ₹1000.
Yes, Citibank or now, Axis Bank typically offers a premature withdrawal facility on FDs, but terms and conditions may apply.
The current FD rates range from 3.00% p.a. to 7.10% p.a. based on tenure and amount.
You can calculate the maturity amount of your FD with Citibank using the Buddy Loan FD calculator given above.
Yes, Citibank FDs, now transferred to Axis Bank FDs, offer different FD schemes with varying interest rates and tenure options. Check out the various schemes above.
Yes, senior citizens can avail slightly higher interest rates on the FD with Citibank.
The tenure for fixed deposits with Citibank usually ranges between 7 days to over 3 years.
Yes, you can typically get a loan against your Citibank FD, providing a liquidity option.
Interest earned on FDs is taxable. However, tax-saving FDs offer deductions under Section 80C of the Income Tax Act.
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