RBL Bank FD calculator

The habit of saving money becomes a blessing when invested correctly, and given there are too many options available in the market, makes it a bit difficult to understand which financial instrument to choose. A fixed deposit is a simple investment option and one of the few financial instruments whose returns can be predetermined in advance.

Calculating returns on FDs manually can often lead to human errors and this could be curbed with the help of online FD calculators where investors can easily know their expected returns for a given tenure. The RBL Bank FD calculator helps investors to arrive at accurate results and make hassle-free planning of their goals.

Using the online RBL Bank FD calculator has never been easier. Here are the steps to follow:

Let’s suppose that you want to invest Rs. 1,00,000 in an FD with the RBL Bank for 5 years. The interest rate is 6% p.a. Considering these values, you can estimate your interest and maturity proceeds using the online RBL Bank calculator as follows.

Step 1: Visit the RBL Bank FD Calculator on Angel One.

Step 2: Enter Rs. 1,00,000 in the "Total Investment" field.

Step 3: Choose the duration of the FD as 5 years.

Step 4: Select the interest rate as 6%.

Step 5: You can instantly view your interest and maturity proceeds. While the estimated interest would be Rs. 34,686, the total maturity amount comes to Rs. 1,34,686.

Here are some of the benefits that come with using an online FD calculator:

1. Error-free math:

   An online FD calculator is a free tool that facilitates error-free calculations and can be used from the comfort of your home via a mobile device or computer. No matter how many times you use it, it will always result in error-free calculations in less than a second to get desired output.
2. Know estimated earnings:

   As an investor, you can save time and effort involved in manual calculations by opting for the RBL FD calculator using multiple tenures, different amounts, and various interest rates.
3. Multiple Instrument Calculations:

   With the help of an FD calculator, an investor can also calculate the outcomes of a different instrument by providing variables like principal, duration, and compound interest where interest is fixed.
4. Assured returns:

   A fixed deposit not only guarantees the safety of your principal investment amount but also facilitates assured returns. This helps in your financial planning.
5. Tax Exemption:

   With the help of tax-saver FDs, an investor can enjoy a deduction claim of a maximum of Rs. 1.5 lakh per annum under Section 80C.

1. Digital FDs:

   This is the normal FD offered by the bank but digitally, where it has multiple durations with the least one starting from 7 days. RBL offers one of the highest interest rates at 7.80% for a tenure of 453 to 459 days (15 months).
2. Smart Deposits:

   It is a flexible term deposit that RBL Bank offers to its depositors where the minimum value is Rs 1000 and any additional amount to increase savings can be done for the same interest rate that your deposit was booked at.
3. Senior Citizen FDs:

   Senior Citizens get an additional interest rate of 0.50% over the current FD rates.
4. Super Senior Citizen FDs:

   Super Senior Citizens i.e., people who are 80 years and above are eligible for a preferential interest rate of 0.75% p.a. more for all tenures, and can also enjoy liquidity with Overdraft facility up to 90% of the principal value.

1. Principal: It refers to the initial investment amount done by you. Higher principal amount attracts higher interest.
2. Interest rate: It is the rate that determines the amount you will receive on maturity along with the principal investment amount. A higher interest rate results in higher earnings.
3. Tenure: FDs usually have high-interest rates for longer tenures which results in higher earnings.
4. Compounding frequency: Higher compounding frequency means higher earnings.
5. Taxation: FD attracts tax on its interest and the subsequent tax liability decreases your earnings.
6. Inflation: FDs have always been unable to provide decent returns that can even meet inflation and if the inflation rate exceeds the FD interest rate, investor’s earnings will wear down.