BOI FD Calculator

Formula to Calculate BOI FD Maturity Amount

You will have to use the following formula to calculate your interest earnings. 

A = P(1+r/n) ^n x t

Here,

• A indicates the maturity amount

• P stands for the investment amount

• ‘r’ is the interest rate divided by 100

• ‘t’ means the duration of your tenor

• ‘n’ implies the frequency of your interest payouts for a year

Example of BOI FD Calculation

While you can calculate your earnings manually or using an online calculator, the latter provides an estimate of your earnings with ease. Doing it manually may not only be time-consuming but can also lead to errors.

Furthermore, you can change the variables on a calculator with ease and find terms that offer superior returns. Here is an example to highlight how easy it is to calculate your interest earnings using the Bank of India FD calculator.

Consider an investment of ₹5 Lakhs for a tenor of 1 year at a predetermined interest rate of 7%. Enter the desired value in the calculator and get an estimate of your earnings instantly.

With the following example, here are the results:

• Maturity Value: ₹5,35,000

• Interest Amount: ₹35,000

• Mode of interest payment: Payable at maturity

You can tweak specific parameters in the BOI FD calculator and choose a plan that best aligns with your financial goals. 

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