# Central Bank of India FD Calculator

Total Investment

Interest rate

%

1%

15%

Select Duration

Yrs

1 Yr

30 Yrs

The future value of investment will be

0

Invested Amount

Estimated Return

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## What is the Central Bank of India FD calculator?

FDs have been one of the most popular investment options in India for many years. Offered by banks and financial institutions, they are investment avenues where people can invest a certain sum of money for guaranteed returns over a period of time. The interest rate for each FD varies from one issuer to another and is available for different periods. The online Central Bank of India FD calculator is a tool that helps you determine estimated returns from an FD by the Central Bank of India.

Using this calculator, you can ascertain the maturity amount and wealth gained with your investment in the Central Bank’s FD. This online Central Bank of India’s FD calculator considers your investment amount, tenure, and interest rate to arrive at the maturity amount. Please note that this calculator only ascertains your returns and doesn’t guarantee them.

## How Does an Central Bank Fixed Deposit Calculator Work?

FD calculator is based on the compound interest or simple interest formula based on the issuer’s policy. It considers variables such as the principal amount, interest rate, and tenure offered by banks or financial institutions to determine the returns and maturity amount. To ascertain the required amounts, you just need to enter the variables in the calculator, which will automatically calculate them.

## What Is the Central Bank of India FD Formula?

• Below is the Central Bank of India FD calculator formula that consists of three variables: principal, interest rate, and tenure.
• A = P (1 + r/n) ^ nt
• Where,
• A = Maturity Amount i.e. the sum of the amount invested plus your interest earnings
• P = Principal Amount i.e. the lump sum amount you wish to invest
• r = Rate of Interest i.e. the rate at which your bank/financial institution is offering you returns on FD
• n = Frequency of Compounding i.e. the number of times you earn interest in a period
• t = Tenure i.e. the duration for which you plan to invest
• The above formula will help compute the maturity amount manually. However, using a calculator is a quick and easy way to arrive at the computation.

## How to Use the Online Central Bank of India FD Calculator?

It’s an easy-to-use and convenient tool that will help determine the maturity amount and returns beforehand for the investment you wish to make. Here’s how to use the online Central Bank of India FD calculator.

1. Enter the principal amount.
2. Now, select the interest rate by moving the bar.
3. Choose the tenure for which you want to invest.

You can now see the expected returns and maturity amount in no time.

Let’s understand this with an example.

Mr. X wishes to invest Rs. 5 lakh in a Central Bank of India FD for 8 years. Assume that the interest rate for the said FD is 6.5%. To calculate the maturity proceeds, follow the below steps:

1. Enter Rs. 5,00,000 in the principal field
2. Select the interest rate at 6.5%
3. Choose a tenure of 8 years

Within seconds, the FD calculator will ascertain the interest and maturity. In this case, the interest earned will be Rs. 3,37,506, and the maturity amount will be Rs. 8,37,506.

## Benefits of Using an Central Bank FD Calculator

The online Central Bank of India FD calculator offers manifold benefits, as mentioned below.

1. Eliminates manual calculation errors: As this is an online calculator, it saves you from complex calculations, thus, reducing the risk of manual calculation errors.

2. Saves a lot of time and effort: To ascertain the returns and maturity amount, you just need to enter the required variables, and this online calculator will do it all for you. This removes the hassle of complex manual calculations, saving you time and effort.

3. Allows comparison of options: You can try multiple options for variables such as interest, tenure, and principal in this calculator. This will help you understand the pros and cons of altering each variable, which in turn enables you to make an informed decision for your investment. For example - You can calculate the maturity amount for the principal amount of Rs. 5 lakh for 6.5% interest for 5 years and then check it for 5.5% for 7 years. You can then make your decision accordingly.

4. Is available free of cost: You can just visit the website and use the calculator to derive the amount without paying any charges. It can be used as many times as you want at any given time.
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## Central Bank FD Calculator FAQs

### What is the Central Bank of India FD calculator?

The online Central Bank of India FD calculator is a tool used to determine a particular FD's estimated returns and maturity amount. It works on the principle of compound interest formula in which principle, interest rate, and tenure are the variables.

### How to use the Central Bank of India FD calculator online?

Simply go to the Angel One website, visit the FD calculator page, and input the required variables such as principal, interest rate, and tenure. It instantly gives you the expected interest and the maturity amount.

### Is the Central Bank of India FD calculator free to use?

Yes. You can access the Central Bank of India FD calculator on the Angel One website completely free of charge.

### How is fixed deposit interest calculated?

The FD interest is calculated by subtracting the principal amount from the maturity amount after calculating the latter using the online FD calculator.

### What is the interest rate on the Central Bank of India FD calculator?

The interest rate for this FD depends on your chosen principal and tenure. You must also know that the repo rate changes might affect the interest rate (as per the bank’s discretion).

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###### Enjoy Zero Brokerage on Equity Delivery

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