MATHS

Sequences and series

 FIX DEPOSIT INTEREST RATES OF BANKS IN INDIA

State bank of India

For general citizens they give 2.90% to 5.65% FD
For senior citizens they give 3.40% to 6.45% FD
HDFC bank
For general citizens they give 2.75% to 6.10% FD
For senior citizens they give 3.25% to 6.60% FD
IDBI bank
For general citizens they give 2.70% to 5.75% FD
For senior citizens the gift 3.20% to 6.50% FD
 FIX DEPOSIT INTEREST RATE OF
BANKS IN INDIA
Kotak Mahindra bank
For general citizens they give 2.50% to 6.10% FD
For senior citizens they give 3% to 6.60% FD
 RBI bank
For general citizens they give 3.25% to 7.00% FD
For senior citizens they give 3.75% to 7.50% FD
Punjab national bank
For general citizens they give 3% to 6.10% FD
For senior citizen’s day gift 3.54% to 6.60% FD
 FIXED DEPOSIT INTEREST RATE
OF BANKS IN INDIA
Canara bank
For general citizens they give 2.90% to 6% FD
For senior citizen’s day gift 2.90% to 6.50% FD
Axis bank
For general citizens they give 2.75% to 5.75% FD
For senior citizens they gave 2.75% to 6.59% FD
Bank of Baroda
For general citizens they give 3% to 5.5% FD
For senior citizen they give 3.5% to 6.5% FD
IDFC first bank
 FIX DEPOSIT INTEREST RATE OF
BANK IN INDIA
IDFC first bank
For general citizens they give 3.5% to 6.9% FD
For senior citizens they give 4% to 7.4% FD
 FORMULA OF FIXED DEPOSIT
INTEREST RATE
• Interest = balance * interest rate /quarter of interest rate / 100
• Example you deposit 10000 rupees and your interest rate is 6% and you deposit it for 1 year
• So your interest will be added every 3 months
• This is called compounding
• So 12 months/3 months = 4
• Interest in 3 months = 10000*6/4/100=150 + 10000 =10150 rupees
• Interest in 6 months = 10150*6/4/100= 152.25 + 10150 =10302.25
• Interest in 9 months = 10302.25*6/4/100=154.53375+10302.25=10456.7838
• Interest in 12 months =10456.7838*6/4/100=156.851757+10456.7838=10613.6356