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Maturity Value
1,06,000
Using a Savings Interest Calculator
The interest rate calculator will help you determine the amount of interest you will earn based on your savings. You can set your savings goal depending on your long-term or short-term financial goals. The tool is easy to use and only requires you to enter your current balance and time duration. The calculator automatically displays the interest rate applicable to your Savings Account.
To use our Savings Account calculator, you just need to:
- Enter your account balance.
- Enter the time duration for which you can hold the amount.
- It will automatically calculate the interest you will earn.
How does the Savings Interest Rate Calculator work?
This investment growth calculator relies primarily on these three factors:
- Account Balance
- Interest Rate
- Duration
Benefits of Axis Bank Savings Account Interest Calculator
Axis Bank’s Savings Account Interest Calculator will be your perfect financial goal planner and help you chalk out an accurate financial plan. These are some of the key benefits of our calculator:
Where:
- The calculator offers unparalleled accuracy to help make a well-projected and accurate financial planning.
- Its easy-to-use interface saves you a lot of time and effort and solves your financial queries in just a click.
- Our tool also aims to promote financial literacy and serves an educational purpose.
Daily Interest = Daily balance x Interest rate / Days in the year
The interest is calculated on the balance maintained in a Savings Account daily and is credited to your account quarterly.
Disclaimer
Axis Bank does not guarantee the accuracy, completeness or correct sequence of any of the details provided therein and therefore no reliance should be placed by the user for any purpose whatsoever on the information contained / data generated herein or on its completeness/accuracy. The use of any information set out is entirely at the User's own risk. Users should exercise due care and caution (including if necessary, obtaining advice from tax/ legal/ accounting/ financial/ other professionals) before taking any decision, acting or omitting to act, based on the information contained / data generated herein. Axis Bank does not undertake any liability or responsibility to update any data. No claim (whether in contract, tort (including negligence) or otherwise) shall arise out of or in connection with the services against Axis Bank. Neither Axis Bank nor any of its agents or licensors or group companies shall be liable to the user/any third party, for any direct, indirect, incidental, special or consequential loss or damages (including, without limitation loss of profit, business opportunity or loss of goodwill) whatsoever, whether in contract, tort, misrepresentation or otherwise arising from the use of these tools/ information contained/data generated herein.
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Frequently Asked Questions
Yes, the calculator is easy to use and only requires you to enter your account balance, interest rate, and time in years.
Banks typically calculate interest by using the Daily Interest formula, which is:
Daily Interest = Daily Balance x Interest Rate/Days in the year.
The interest is calculated daily on the balance maintained in your Savings Account and is credited to your account on a quarterly basis.
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