Zero Charges on 28 Commonly Used Savings Account Services
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Earn up to 7% p.a. interest on your Savings Account
Monthly Interest Credit on Savings Account
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A saving account EMI calculator helps in your loan planning
Get an approximation of your EMIs
Change your loan amount, tenure on the saving account EMI calculator
A savings account interest rate calculator is a quick-and-easy tool that helps you figure out the interest you can earn monthly on your savings account balance.
The savings account interest calculator can estimate the amount you can earn on your savings account balance using inputs like your savings account balance and the bank interest rate.
Read moreThe Savings Account Interest Calculator is a quick-and-easy tool to calculate the interest you can earn on your savings account balance. You must enter your savings account balance to calculate the interest you can earn with your savings account. Using the input, the calculator can quickly evaluate the amount you can earn on your savings account balance.
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Savings Calculators
Interest calculated on daily balances and paid at the end of every month
To understand the concept of a savings account, imagine you and your friend have ₹500 each. While your friend kept it with him, you deposited it in a bank that offers an interest rate of 10% annually. Towards the end of the year, your friend managed to not spend any money and save ₹500, whereas you grew it to ₹550 because you decide to deposit it in the bank.
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Read Full StoryThe savings account interest rate calculator can tell you the interest you can earn on your savings account balance. You must enter information like your savings account balance and the bank's interest rate in the calculator. The calculator evaluates the amount you can earn on your savings account balance using the inputs.
The interest rates are calculated on daily balances. The cumulative interest earned is credited to the savings account either monthly or quarterly, depending on the bank’s policy.
The Effective annual rate (EAR) is the interest rate earned or paid on an asset or loan by compounding the interest over a set timeframe. It is frequently higher than the nominal rate and evaluates different financial products with varying compounding periods - weekly, monthly, and annually. When the frequency of compounding periods increases, the effective yearly interest rate rises over time.
Some banks pay savings account interest monthly and some pay quarterly. IDFC FIRST Bank is one of the few banks that pays Savings Account interest monthly.