This Special FD Rates Analysis Calculator will help you in calculating the difference of interest earned in a Normal FD as compared to a Special FD followed by a Normal FD. This can then help you take decision whether its worth investing in the Special FD or not.
A number of people including bank staff and financial advisors are use EPM’s FD calculators and have saved Lakhs !!!
All the inputs are fully customizable. Once you have downloaded the calculator, you can use the same forever and for any number of calculations. If you are looking for preclosing your FD and open a new one at higher interest rate, then there is a separate calculator for the same.
So, if you are planning to create a Fixed Deposit for long term and confused whether you should open a Special FD for smaller duration followed by a Normal FD for remaining duration or whether you should opt for the default Full duration FD, then this Special FD Rates Analysis Calculator will give you the precise information you need to be able to take a decision.
 Why Banks Issue Special Interest Rate FD?
 Why This Special FD Rate Analysis Calculator?
 How This Special FD Rates Analysis Calculator Works?
 Understanding Special FD Rates Analysis Calculator with Example
 Analysis using Special FD Rates Excel Calculator
 How to get the Special FD Rates Analysis Calculator?
 Who should use this calculator?
 YouTube Video
Why Banks Issue Special Interest Rate FD?
Whenever India’s central bank – RBI increases Repo Rate, the cost of borrowing money from RBI increases for the banks. Since banks need to have the money to be able to lend it, they in turn have to increase the rates for deposits.
Banks may thus issue Special Interest Rate Fixed Deposits for shorter durations for a variety of reasons, like:
 Promotional Offers: Banks often introduce special fixed deposit schemes as part of their promotional offers to attract customers and encourage them to deposit funds for shorter durations.
 Liquidity Management: Banks need to manage their liquidity position effectively to meet their shortterm funding requirements.
By offering special interest rate fixed deposits for shorter durations, banks can attract funds for a shorter period of time, which allows them to better manage their liquidity needs.  Rate of Interest Risk Management: Banks face interest rate risk, which refers to the potential impact of changes in interest rates on their profitability. If a bank expects interest rates to increase in the near future, it may issue shorterduration fixed deposits to avoid paying higher interest rates for a longer term. Conversely, if a bank expects interest rates to decrease, it may issue longerterm fixed deposits to lock in higher interest rates for a longer duration.
Why This Special FD Rate Analysis Calculator?
What would happen if you were planning to open a Fixed Deposit for a 5year duration but come across a Special FD rate for a shorter duration? Now, what would you do?
 Will it make sense to book full 5 year duration Fixed Deposit? OR
 Book a Fixed Deposit at Special Interest Rate for shorter duration and Open a New FD after the maturity of this Special Rate FD? AND
 What should be the minimum interest rate during renewal which will ensure that you are not in a loss?
Guess, this is a question we all come across quite often during the times when Fixed Deposit (Term Deposit) interest rates are on a rise. When I faced a similar dilemma, I thought of doing some calculations which resulted in creation of this Special FD Rate Analysis Calculator.
How This Special FD Rates Analysis Calculator Works?
This calculator has 3 sections for adding Inputs:
 Full – This is where you add information about the Full Length FD
 Special – Enter the details about Special Rate FD in this section.
 Remaining – Enter the details about the Revised Length FD that you will be creating.
Note: You can only add the values in the Cells with Orange Color with the help of description written in front of them. All other cells will be noneditable. Once you enter all the required information, you will be able to see the entire analysis along with the potential Benefit or Loss that may occur to you.
Important: It’s extremely important to understand that this is only a tool for guidance and actual benefit, or loss can only be confirmed by the respective financial institution.
Understanding Special FD Rates Analysis Calculator with Example
Let’s assume you want to do a Fixed Deposit of ₹1,00,000 for 5 Years. When you go to Bank, you see the following Interest Rate Charge:
Now while the bank is offering 6.5% Interest for 5+ year of duration, you also notice the attractive Interest rates of 6.80% and 7.00% for shorter duration.
But then, the someone at the bank points you to a special limited time scheme offering 7.1% Interest rate if you open a Fixed Deposit for 400 days. And advises you to use the opportunity to get the BEST FD INTEREST RATE and once it matures, you can open another Fixed Deposit (positively assuming that Interest Rates won’t go down).
Confused, you think, what should you do? What if FD rates go down? How much will you benefit with this extra Interest Rate?
Luckily, you remember Amit Chopra from EVERY PAISA MATTERS who has created some of the most unique financial calculators in the world.
So, you download this Special FD Rates Analysis Calculator and enter the data as following:
In First section, you enter the data for your Full Length FD. This data is entered assuming you intend to open the Fixed Deposit for full duration. (5 years in this case)
Note: For 5 year period, Interest rate applicable is 6.5%.
FULL Length – FD Amount  100000 
FULL Length – FD Start Date  19Apr2023 
FULL Length – FD Maturity Date  19Apr2028 
FULL Length – FD Interest Rate  6.50% 
The FULL Length – FD Duration gets automatically calculator as 5 years 0 Months and 0 Days.
In Second section, you enter the data for your Special Length FD. This data is entered assuming you intend to open the Special Fixed Deposit at Special Rate for Special Duration. (7.10% for 400 Days in this case)
Note: For 400 Days, Interest rate applicable is 7.10%.
SPECIAL Length – FD Start Date  19Apr2023 
SPECIAL Length – FD Maturity Date  23May2024 
SPECIAL Length – FD Interest Rate  7.10% 
SPECIAL Length – FD Duration (Days)  400 
The SPECIAL Length – FD Duration gets automatically calculator as 1 years 1 Months and 4 Days
Important: If you enter the FD Duration (Days) then the Maturity date automatically gets calculated. But if you change the Maturity Date manually in above section, then the FD Duration may show incorrectly.
In Third section, you enter the data for your REVISED Length FD. This data is entered assuming you intend to open another Fixed Deposit after your Special Fixed Deposit has matured. The duration for this Fixed Deposit is the difference between the Full Length FD duration (5 Years) and the Special FD duration (400 Days).
Note: For 35 year duration, Interest rate currently applicable is 6.5%. However, this interest rate may go up, remain same or go down at the time of renewal. Please look at the section of Scenario Analysis for the same.
REVISED Length – FD Start Date  23May2024 
REVISED Length – FD Maturity Date  19Apr2028 
REVISED Length – FD Interest Rate  6.50% 
The Revised Length – FD Duration gets automatically calculator as 3 years 10 Months and 27 Days
Basis the above data, you will have the calculations available for all 3 cases at the bottom of the page.
You will also have the Benefit Analysis data summarizing your calculations and giving you an idea about the Overall Profit of Loss you will make.
Analysis using Special FD Rates Excel Calculator
So, lets look at this problem with 3 different cases.
Case 1 – Interest Rate Increases at the time of Renewal
Let’s assume that when you went to bank after 400 days, the Interest rates now for 35 Years duration FD is 6.75%.
While it is obvious that you will have benefit in this case but let’s use this FD Special Rates Calculator to analyse what the actual benefit till be.
From above, we can clearly see that there will an overall benefit of ₹2,245 if you go for Special Rates FD followed by another FD.
Case 2 – Interest Rate Remain Same when you go for Renewal
Let’s assume that when you went to bank after 400 days, the Interest rates for 35 Years duration FD remain same at 6.50%.
We have already used this case while showing the example and we can see that there was an overall benefit of ₹903 in this case.
Case 3 – Interest Rate Decreases at the time of Renewal
Let’s assume that when you went to bank after 400 days, the Interest rates now for 35 Years duration FD comes down to 6.25%.
From below, we can clearly see that there will an overall loss of ₹427 if you go for Special Rates FD followed by another FD.
Let’s also see what happens if Interest Rate comes down to 6.00% at the time of renewal. We can now see that there will an overall loss of ₹1745 if you go for Special Rates FD followed by another FD.
How to get the Special FD Rates Analysis Calculator?
You can get the Calculator (Excel Sheet format) from the links below or from EPM Shop.
As a SPECIAL LAUNCH OFFER, you can purchase this calculator at 60% DISCOUNT for only ₹399. You can also use the coupon codes to further lower the price. (VALID TILL FIRST 20 DOWNLOADS ONLY)
If you face any issues after payment, email to [email protected] or [email protected]

Special FD Rates Analysis Calculator – EXCELProduct on sale₹999.00
Who should use this calculator?
Many a times we are confused whether we should be going for Special Rates Fixed Deposit or shall we stick to our original plan of longer duration FD. So, anyone who is planning to open a new fixed deposit should first use this Special FD Rates Analysis Excel calculator. If you have a question, Leave a Comment below.
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Important: – This calculator works well only in Microsoft Excel application. If you are using this calculator by opening it in any other application, some of the features may not work as expected.