Use this calculator to find the maturity amount of your RBL Bank Fixed Deposit (FD). Simply input the invested amount, the annual interest rate, and the tenure details.
| Maturity Date | : |
| Invested Amount | : ₹10,000 |
| Interest Amount | : ₹666 |
| Maturity Amount | : ₹10666 |
An online Fixed Deposit Calculator is where you can estimate the returns for your investment made in RBL Bank FD. RBL Bank FD offers competitive interest rates of up to 7.8% p.a. for general investors and 8.30% p.a. for senior citizens. With the user-friendly FD calculator from RBL, you can get quick insights into your fixed deposit's maturity value, helping you make informed investment decisions.
How Can RBL Bank FD Calculator Help?
The RBL Bank FD Calculator is a useful tool that provides real-time interest rates, maturity values, and specialized calculations for seniors and potential FD loans. Here's how it helps:
- Time-Saver: Using an FD calculator can save you a lot of time and effort otherwise spent on tedious calculations and simplify your financial planning.
- Plan your Investment: Easily plan for your short-term and long-term FD investment goals.
- Accurate Guidance: Get precise and reliable results and eliminate the chance of human errors.
- Quick Comparisons: Easily compare different deposit options to find the one that best suits your financial objectives and preferences.
Steps to Use RBL Bank FD Calculator
Utilize the RBL Bank FD Maturity Calculator for streamlined financial planning. Follow these simple steps to gain insights into your investment quickly:
- Step 1: Open the FD calculator & enter your invested amount.
- Step 2: Specify the interest rate.
- Step 3: Input the investment tenure in years.
- Step 4: Instantly view the results!
RBL Bank FD Rates
Interest rates for RBL Bank Domestic Fixed Deposits can vary depending on the chosen tenure. The table below outlines the different interest rates offered by RBL Bank FD for various tenures under Rs. 2 crores:
| Tenure | Interest Rates for Public (p.a.) | Interest Rates for Senior Citizens (p.a.) |
|---|---|---|
| 7 days to 14 days | 3.50% | 4.00% |
| 15 days to 45 days | 4.00% | 4.50% |
| 46 days to 90 days | 4.50% | 5.00% |
| 91 days to 180 days | 4.75% | 5.25% |
| 181 days to 240 days | 5.50% | 6.00% |
| 241 days to 364 days | 6.05% | 6.55% |
| 12 months to less than 15 months | 7.00% | 7.50% |
| 15 months to less than 24 months | 7.80% | 8.30% |
| 24 months to less than 36 months | 7.50% | 8.00% |
| 36 months to 60 months 1 day | 7.10% | 7.60% |
| 60 months 2 days to 240 months | 7.00% | 7.50% |
| 60 months (Tax Savings) | 7.10% | 7.60% |
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Note: These rates are indicative and subject to change. Always check with the bank for the most up-to-date information before making any investment decisions.Scheme-wise RBL Bank Fixed Deposits Interest Rate
RBL Bank offers an array of fixed deposit schemes, each offering distinct features and interest rates. A clear understanding of these rates is pivotal in shaping your investment strategy. Here's a concise overview of the current interest rates:
| RBL Bank FD Schemes | Tenure | Interest Rates for General Public (p.a.) | Interest Rates for Senior Citizens (p.a.) |
|---|---|---|---|
| Digital Fixed Deposit | 7 days - 10 years | 3.50%-7.80% | 4.00%-8.00% |
| Smart Deposit | 6 months - 5 years | 5.50% - 7.80% | 6.00%-8.30% |
| Flexi Sure Fixed Deposit | 5 years | 7.00% | 7.50% |
| Regular Fixed Deposit | 5 years | 7.30% | 7.80% |
| Tax Saving Fixed Deposit | 5 years | 7.10% | 7.60% |
Formula to Calculate RBL Bank FD Maturity Amount
You have two options for determining the maturity amount of fixed deposits: manual calculation and RBL FD calculator. The formula used by RBL Bank to calculate the maturity amount is as follows.
A = P (1 + r/n)nt
where,
A = maturity amount,
P = principal amount,
r = annual interest rate,
n = number of times interest is compounded per year,
t = tenure in years.
Example:
Let's examine a Fixed Deposit of ₹70,000 placed in an RBL Bank FD, featuring a 7.8% annual interest rate, compounded quarterly, and held for a duration of 5 years. Using the formula:
A = 70,000 * [1 + 0.078/4]^(4*5)
A = 70,000 * [1 + 0.0195]^(20)
A = 70,000 * [1.47144]
Calculating the value:
A ≈ ₹1,03,001/-
So, after 5 years, a ₹70,000 Fixed Deposit in an RBL Bank, with a 7.8% annual interest rate compounded quarterly, will grow to about ₹1,03,001/-
RBL Bank FD Interest Calculation
To make smart financial decisions, you need to understand how interest works on your RBL Bank Fixed Deposit. The formula to calculate the total interest is:
Total Interest Earned = Maturity Amount - Principal Amount
Taking values from the previous calculation, the total interest can be calculated as:
Total Interest = ₹1,01,089.96 - ₹70,000
Total Interest = ₹33,001/-
The total interest earned on the ₹70,000 Fixed Deposit in an RBL Bank, with a 7.8% annual interest rate compounded quarterly for 5 years, is ₹33,001/-
Advantages of Using RBL Bank FD Calculator
The RBL Bank FD Calculator is a user-friendly tool that enhances strategic financial planning. It offers accurate calculations and personalized calculations for senior citizens. It aids informed decision-making and maximise your fixed deposit investments.
Discover its unique advantages on your financial journey.
- Pinpoint Accuracy: Obtain highly precise estimations of your fixed deposit returns, allowing for confident financial planning.
- Customized Solutions: Customize your calculations to suit specific needs, whether it's for senior citizens or FD loans, providing you with a personalized approach to financial planning.
- Informed Decision-Making: Equip yourself with the knowledge to make well-considered financial choices that align perfectly with your financial goals and aspirations.
- Streamlined Efficiency: Simplify and expedite your financial planning process, saving you valuable time and effort, so you can make the most of your financial investments.
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Frequently Asked Questions
The RBL Bank FD calculator calculates the maturity amount and total interest earned using the deposit amount, interest rate, and tenure in months or days.
Using the RBL Bank FD Calculator provides benefits like accurate interest rate predictions, easy FD option comparisons, and effective financial goal planning.
Use the RBL Bank calculator to get the interest on a fixed deposit. Just enter the amount deposited, the term of the deposit, and the interest rate.
You need to input the principal amount and tenure to use the RBL Bank FD Calculator. The interest rate will be fixed.
Yes, the RBL Bank FD Calculator can accurately calculate long-term deposits.
The RBL Bank helps you calculate monthly and quarterly payouts. You can also select the type of customer - regular and senior citizen.
Utilize the RBL Bank FD Calculator to strategize your investments. Input different deposit options assess the estimated interest earnings, and make well-informed financial decisions.
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