Calculate - Auto Sweep Flexi Fixed Deposit Amount, Maturity Value, Interest Earning On Deposits and in Saving Account
This calculator facilitates you to view complete details of Flexi Deposits issued, Interest return before and after TDS with indicative amount of yearly and quarterly Interest accured / payable and TDS. (Bank deducts TDS if total interest earning on all Fixed Deposits in a Financial Year exceeds Rs. 50000/- of Sr. Citizen and Rs. 10000/- of a person age below 60 years.)
What is Flexi Fixed Deposit?
A flexi fixed deposit is a combination of a fixed deposit and a savings account, ensuring customers to get the benefit of high interest rates offered by Fixed Deposits plus liquidity offered in saving accounts.
It shows amount of fresh auto Flexi Deposits issued on reaching a certain balance in your saving Bank a/c as per your bank account mandates with total maturity value of such Flexi Deposits issued. Also displays amount of interest payable on each Flexi Deposits issued with TDS for the Year and Quarter. It also displays date wise net effective saving account balance (Saving Bank A/C balance + Face Value of Flexi Deposit Issued) against each transactions entered with Saving Bank interest calculations at the bottom.
This calculator can be used simply as depsosit calculator for calculating consolidated maturity value of all your fixed deposits issued for same matuity period in months like 12, 24, 36 etc. (update above deposit be issued in multiple as 0 and period as per your choice in months). For using this calculator only for this purpose, you have to enter first transaction of Rs. 25000 (as default values above) or same as of amount you have entered as a/c minimum balance say Rs. 1.
To check the complete features and usefulness of this calculator use this calculator and also view Steps to use this calculator.
Auto Sweep-in fixed deposits could be a better option for risk averse investors looking for higher interest.
This deposit scheme has integrated features of the Savings Deposit and Fixed Deposit, for liquidity and earning higher returns on surplus funds in saving bank account.
To Calculate - Auto Sweep Flexi Deposit Amount, Interest, Maturity Value with Interest Earning in Saving Bank Account change the defaults values entered here as per your bank's norms or as per your calculations requirement.
(The width of fields to enter your details will auto increase when you are viewing it horizontally in your MOBILE)
In case Date of Transactions is entered hereunder with the amount of transaction - It will calculate the amount of interest earned on your saving bank balance on the saving bank interest rate entered as above.
Steps to use this Calculators
The following simple step will help to calculate your saving bank interest and amount of total flexi deposit issued and maturity value of flexi deposits and side by side date wise effective balance (balance available in SB a/c + face value of felxi deposit) with total amount of interest payable on gross flexi deposits issued during the period entered therein and interest return before and after TDS with indicative amount of TDS
This calculator is dividend in two parts - Following five steps are related with auto flexi deposits be issued from your account / interest payable in saving bank account :-
- Enter Opening Balance, date of this balance and rate of interest payable in your Saving account for calculations of interest payable in your saving balance (default entered here 3.5).
- Enter Minimum Balance required on reaching this amount for Auto Flexi Deposit be Issued from your account (default entered 25000).
- For Flexi Deposit issuance and interest calculations on future auto deposits from your account enter the time period of felxi deposits (default here selected 12 months).
- Enter the amount in multiples of 1000, 5000, 10000 etc. your bank issues auto Flexi Deposits (default entered here 1000)
- Select number of rows to display for entering the date wise transactions to view date wise issuance of flexi deposits. (default entered here 6)
In second part of the calculator you are required to enter in three fields related with date wise account operations for issuance of flexi deposits on reaching the required balance to display total amount of flexi deposits issued / maturity value / effective balance date wise / total interest to be earned on felxi deposits and saving bank deposits for the period of transactions entered.
- Enter date of your transaction (deposits / withdrawal i.e. credit or debit) in account.
- Enter amount of transaction (you may enter net amount of transaction for the one date e.g. if Rs. 7500.00 deposited and debited by Rs. 5450.70 on same day (net amount of this transaction 2049.30 can be entered instead of two transactions) for vice versa transactions where debit amount is excess enter the amount with minus sign as -2049.30, do likewise if there is any withdrawn.
(In banks when the account balance exceed the amount of minimum balance required for flexi deposit as per your mandate / bank norms the auto flexi be issued. Likewise this calculator will calculate and display the amount of issuance flexi deposit in account and the available balance in saving bank will redcue by this amount and simultaneously the effective balance in your account will be displayed inclusive of this amount.
- To calculate interest payable on flexi deposits, enter the interest rate payable for the period of 12 months (selected default 12 months as above) or for the period applicable as per youur bank norms). The interst rate is required to be entered with every transactions as Now a days, the interest payable on deposits is changed frequently in banks.
Results of Calculator
- Displays effective balance of account of the dates entered therein.
- Displays total amount of Flexi Deposits issued during the period entered therein.
- Displays total amount of maturity value of the above Flexi Deposits issued. The interest is calculated on quarterly compounding basis.
- Displays Interest Paid / Payable in SB A/C For the period (dates entered therein on your saving bank account deposits, calculated on date wise account balance at the rate of interest payable by your bank in your saving bank account (default entered 3.5).
- Above all displays complete list of Flexi Deposits issued details with interest return before and after TDS (if applicable) of each flexi deposits for individual with PAN and without PAN.
- Displays indicative amount of quarterly Interest accured / payable and TDS, if applicable
DisclaimerThe above calculator is only enables users to have tentative and indicative amount of calculations of flexi deposits issued etc. and TDS calculation. Maxutils.com does not make any claim that the calculations provided here are correct calculation in all circumstances and up-to-date. The contents of this site cannot be treated or interpreted as a statement of law. In case, any loss or damage is caused to any person due to his/her treating or interpreting the contents of this site or any part thereof as correct, complete and up-to-date statement of law out of ignorance or otherwise, this site will not be liable in any manner whatsoever for such loss or damage.
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