1. What is AYA Bank Fixed Deposit?

AYA Bank offers fixed deposit accounts with competitive interest rates ranging from 11.25% for 1 month to 12.00% for 1 year. These deposits provide a secure way to grow your savings with guaranteed returns.

2. How Does the Calculator Work?

The calculator uses the compound interest formula:

Where:

• \( FV \) — Future Value (MMK)
• \( P \) — Principal Amount (MMK)
• \( r \) — Annual Interest Rate (decimal)
• \( t \) — Time Period (years)

Explanation: The formula calculates quarterly compounding interest, which is how AYA Bank calculates returns on fixed deposits.

3. Importance of Fixed Deposit Calculation

Details: Calculating future value helps you plan your investments, compare returns, and make informed financial decisions about your savings.

4. Using the Calculator

Tips: Enter the principal amount in MMK, select the time period in years, and choose the appropriate interest rate based on your deposit term. All values must be valid (principal > 0, time > 0).

5. Frequently Asked Questions (FAQ)

Q1: What are the current AYA Bank fixed deposit rates?
A: AYA Bank offers 11.25% for 1 month deposits and 12.00% for 1 year deposits, with varying rates for other terms.

Q2: How often is interest compounded?
A: AYA Bank compounds interest quarterly (4 times per year) for fixed deposits.

Q3: Is there a minimum deposit amount?
A: Yes, AYA Bank typically requires a minimum deposit amount for fixed deposits. Please check with the bank for current requirements.

Q4: Are there penalties for early withdrawal?
A: Yes, early withdrawal from fixed deposits may incur penalties and reduced interest rates. Consult with AYA Bank for specific terms.

Q5: How accurate is this calculator?
A: This calculator provides estimates based on the compound interest formula. Actual returns may vary slightly due to specific bank policies and rounding methods.