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RBL Bank FD Calculator

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30 Yrs

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What is the 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.

How Does an FD Calculator Work?

A fixed deposit calculator works based on the compound interest formula. It considers variables like the principal, tenure, and interest rate offered by the bank to calculate the interest and total amount receivable on maturity. The RBL Bank FD calculator tells you exactly how much you can earn from your investment even before you open the FD account.

What Is the FD Formula?

  • The FD formula considers three factors - principal amount, interest rate, and tenure.
  • Here’s the FD formula:
  • m = p (1 + r/n) ^ nt
  • Where,
  • m = the amount you will receive upon maturity
  • p = the amount you are looking to invest
  • r = rate of interest
  • n = frequency of compounding
  • t = tenure of the deposit

How to Use the RBL Bank FD Calculator Online?

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.

Benefits of Using an RBL Bank FD Calculator

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.

Types of RBL Bank FD Schemes

  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.

Factors influencing RBL Bank FD earnings

  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.

RBL Bank FD Calculator FAQs

What is the RBL Bank FD calculator?

The RBL Bank calculator is an online tool to determine the earnings and maturity proceeds of an FD offered by RBL Bank.

How to use the RBL Bank FD calculator online?

Using the calculator is very simple and quick. All you need is the principal, interest, and tenure details to get your estimated earnings on maturity.

Is the RBL Bank FD calculator free to use?

Yes. The RBL Bank calculator online is free to use.

Is there a penalty for the premature closure of an FD?

Yes. RBL Bank charges a penalty on premature withdrawals done before a specified period.

Can we take a loan against an FD?

Yes, you can take a loan against your FD and still continue to earn interest on it.

What is the maximum duration for an FD at RBL Bank?

The maximum period of FD investment allowed is 20 years.

Enjoy Zero Brokerage on
Equity Delivery

Enjoy Zero Brokerage on Equity Delivery

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