Central Bank of India FD Calculator

Interest Rate

12%

1%50%

Duration

5 Years

1 Year30 Years

Compounding Interval

Select the interval when the interest is compounded

Investment Amount

Total Interest

Invested Amount

₹15,000

Total Interest

₹11,435

Total Value

₹26,435

Investment Amount

Total Interest

Invest Now

Central Bank of India FD Calculator

The Central Bank of India Fixed Deposit (FD) Calculator is an easy-to-use online tool that helps you estimate the maturity amount and interest earned on your FD investment. By entering a few key details, such as deposit amount, tenure, and applicable interest rate, you can instantly know the returns from your fixed deposit with the Central Bank of India.

How the Central Bank of India FD Calculator Works

The FD calculator simplifies the process of determining your FD returns. It calculates the maturity amount and interest earned based on:

Deposit amount: The principal amount you invest
Tenure: The duration of the fixed deposit (ranging from 7 days to 10 years)
Interest rate: The prevailing rate offered by the Central Bank of India, which varies based on tenure and applicant type (general public or senior citizens)
Compounding frequency: Usually quarterly for the Central Bank of India

Formula Used

A = P × (1 + r/n)^{n × t}

A: Maturity amount
P: Principal amount (initial deposit)
r: Annual interest rate (in decimal)
n: Number of compounding periods per year (usually 4 for quarterly)
t: Time (in years)

Interest earned = A – P

Benefits of Using the FD Calculator

Instant results: No manual calculation is needed
Customizable inputs: Choose any deposit amount, tenure, and rate
Helps with planning: Estimate returns before investing
Compares options: Easily try different tenures or amounts

Disclaimer : The results given by the above calculator are for illustration purpose only. They are often based on a number of assumptions. The results given are in no way any guarantee of the returns that will be given. Investments in stock markets and securities markets are subject to market risks and other risks. There is no guarantee of the return that will be actually given. Investment in other financial products may also be subject to market risks and other risks. There is no guarantee of the returns that will be given by them. The calculator also does not make any recommendation directly or indirectly. Please consult a registered Financial Advisor before taking any investment decision.

FAQs on Central Bank of India FD Calculator

What is the minimum deposit amount for a Central Bank of India FD?

The minimum amount is ₹1,000. There is no upper limit, but larger deposits may offer customized rates.

What is the maximum tenure for the Central Bank of India FD?

The maximum tenure is 10 years.

Do senior citizens get higher FD interest rates?

Yes, senior citizens typically receive an additional 0.50% interest over the standard rates.

Is the interest earned on FD taxable?

Yes. Interest income is taxable as per your income tax slab. TDS applies if the interest exceeds ₹40,000 (₹50,000 for senior citizens) in a financial year.

Can I break my FD before maturity?

Yes, premature withdrawal is allowed, but it may involve a penalty and reduced interest rate.

How often is the interest compounded?

Central Bank of India generally compounds FD interest quarterly.

Is there an auto-renewal facility?

Yes, the bank offers an auto-renewal option at the time of FD creation.

Can I use this calculator for tax-saving FDs?

Yes, but remember that tax-saving FDs have a 5-year lock-in period, and only investments up to ₹1.5 lakh per year are eligible for tax deduction under Section 80C.