Result
How does the Central Bank of India FD Calculator Work?
In order to use the FD calculator, entering a few primary details is mandatory, such as the principal or total amount (P), specific tenure (t) and rate of interest (r). The last parameter that one has to enter is the frequency of interest computation (n).
So, the formula for understanding the FD maturity is:
A= P(1+r/n) ^n x t
Benefits of the Central Bank of India FD Calculator
- Eliminates the hassle associated with manual calculation and generates instant results.
- The interface of the Central Bank FD calculator is easy to understand and very clean. There is no need to have any prior knowledge in order to use the calculator.
- The investor changes parameters on the Central Bank of India Fixed Deposit Interest calculator at one’s will. Doing this helps them to better comprehend the various outcomes that come with altering each factor. This helps them to make informed decisions with respect to their FD investment.
- Using an online tool is a more efficient method of making choices with respect to investments because it minimises the risk of errors that can sometimes arise during the process of computation. Such tools as the Central Bank of India FD rates calculator are the best way to determine profitability associated with fixed deposits.
Central Bank of India FD Rates 2024
Domestic Term Deposit Interest Rates with effect from 10th May 2023 (Less Than Rs.2 Crore)
Maturity Period | General Public | Senior Citizen | ||
Rates | Annualised Yield | Rates | Annualised Yield | |
7-14 days | 3.50% | 3.50% | 4.00% | 4.00% |
15-30 days | 3.75% | 3.75% | 4.25% | 4.25% |
31-45 days | 3.75% | 3.75% | 4.25% | 4.25% |
46-59 days | 4.00% | 4.00% | 4.50% | 4.50% |
60-90 days | 4.25% | 4.25% | 4.75% | 4.75% |
91-179 days | 4.50% | 4.50% | 5.00% | 5.00% |
180-270 days | 5.50% | 5.61% | 6.00% | 6.14% |
271-364 days | 5.50% | 5.61% | 6.00% | 6.14% |
1 year to less than 2 years | 6.75% | 6.92% | 7.25% | 7.45% |
2 years to less than 3 years | 6.50% | 6.66% | 7.00% | 7.19% |
3 years to less than 5 years | 6.25% | 6.40% | 6.75% | 6.92% |
5 years & above upto 10 years | 6.25% | 6.40% | 6.75% | 6.92% |
Central Bank of India Fixed Deposit Interest Rates with effect from 10th May 2023 (Rs.2 Crore to Rs. 10 Crore)
Maturity Period | General Public | Senior Citizen | ||
Rates | Annualised Yield | Rates | Annualised Yield | |
7-14 days | 4.75% | 4.75% | 5.25% | 5.25% |
15-30 days | 4.75% | 4.75% | 5.25% | 5.25% |
31-45 days | 5.25% | 5.25% | 5.75% | 5.75% |
46-59 days | 5.25% | 5.25% | 5.75% | 5.75% |
60-90 days | 4.50% | 4.50% | 5.00% | 5.00% |
91-179 days | 5.50% | 5.50% | 6.00% | 6.00% |
180-270 days | 6.00% | 6.14% | 6.50% | 6.66% |
271-364 days | 6.25% | 6.40% | 6.75% | 6.92% |
1 year to less than 2 years | 6.75% | 6.92% | 7.25% | 7.45% |
2 years to less than 3 years | 6.00% | 6.14% | 6.50% | 6.66% |
3 years to less than 5 years | 5.50% | 5.61% | 6.00% | 6.14% |
5 years & above up to 10 years | 5.50% | 5.61% | 6.00% | 6.14% |
Central Bank of India Special Term FD Rates w.e.f 10th April 2023
Tenure | General Public FD Rates (p.a) (callable) | Senior Citizen FD Rates (p.a) (callable) |
444 days | 7.10% | 7.60% |
999 days | 6.50% | 7.00% |
Central Bank of India NRE FD Rates (Less than Rs. 2 Crore) w.e.f 10th March 2023
Tenure | Interest Rate |
1 year to less than 2 years | 6.75% |
2 years to less than 3 years | 6.50% |
3 years to less than 5 years | 6.25% |
5 years to 10 years | 6.25% |
Central Bank of India NRE FD Rates (Rs. 2 Crore to Rs.10 Crore) w.e.f 10th March 2023
Tenure | Interest Rate |
1 year to less than 2 years | 6.75% |
2 years to less than 3 years | 6.00% |
3 years to less than 5 years | 5.50% |
5 years to 10 years | 5.50% |
Central Bank of India FCNR FD Rates w.e.f 1st December 2022
Period of Deposit | USD | GBP | EURO | CAD | AUD |
1 year to less than 2 years | 5.77 | 3.63 | 2.00 | 4.36 | 3.70 |
2 years to less than 3 years | 5.62 | 4.03 | 2.20 | 5.36 | 4.20 |
3 years to less than 4 years | 5.50 | 4.13 | 2.40 | 5.61 | 4.55 |
4 years to less than 5 years | 5.60 | 4.13 | 2.40 | 5.66 | 4.80 |
5 years | 5.65 | 4.13 | 2.40 | 5.66 | 4.90 |
Overdue Deposit | 4.77 | 2.63 | 1.00 | 3.36 | 2.70 |
Conclusion
Central Bank of India FD Calculator : FAQs
An interested investor or customer can customise the investment plan by computing different investment amounts, interest rates and tenures in the Central Bank of India fixed deposit calculator.
Yes, an investor can try the Central Bank FD calculator in order to explore multiple calculations by adjusting the tenure, interest rate and investment amount and weigh the pros and cons of different financial outcomes.
The penalty interest of 1% will be charged when there is premature withdrawal of FDR deposit of more than Rs. 5 lakhs. Upto Rs. 5 lakhs, no penalty interest will be charged if there is premature withdrawal of FDR deposit.
First, the investor needs to fill out the account closure form or fixed deposit liquidation form. Then the KYC documents need to be attached. Finally, the fixed deposit certificate or fixed deposit receipt must be submitted.
Yes, the fixed deposit amount can be withdrawn anytime prematurely offline as well as online.