Central Bank of India FD Calculator
Central Bank of India Fixed Deposit Calculator 2020
Central Bank of India FDs have tenures ranging from 3 years to 10 years with maximum rate of interest of 5.10%. Interest rates for senior citizens are higher than the normal rates and ranges upto 5.60%.
| Tenure | Rates | Maturity Amount for ₹ 1 Lakh |
|---|---|---|
| 7 days to 14 days | 3.00% to 3.50% | ₹ 1,00,058 - ₹ 1,00,134 |
| 15 days to 30 days | 3.00% to 3.50% | ₹ 1,00,123 - ₹ 1,00,288 |
| 31 days to 45 days | 3.00% to 3.50% | ₹ 1,00,255 - ₹ 1,00,432 |
| 46 days to 59 days | 3.40% to 3.90% | ₹ 1,00,428 - ₹ 1,00,630 |
| 60 days to 90 days | 3.40% to 3.90% | ₹ 1,00,559 - ₹ 1,00,962 |
| 91 days to 179 days | 4.00% to 4.50% | ₹ 1,00,997 - ₹ 1,02,219 |
| 180 days to 270 days | 4.30% to 4.80% | ₹ 1,02,132 - ₹ 1,03,593 |
| 271 days to 364 days | 4.30% to 4.80% | ₹ 1,03,227 - ₹ 1,04,873 |
| 1 year to 1 year 364 days | 5.00% to 5.50% | ₹ 1,05,095 - ₹ 1,11,527 |
| 2 years to 2 years 364 days | 5.00% to 5.50% | ₹ 1,10,449 - ₹ 1,17,789 |
| 3 years to 4 years 364 days | 5.10% to 5.60% | ₹ 1,16,420 - ₹ 1,32,036 |
| 5 years to 10 years | 5.10% to 5.60% | ₹ 1,28,838 - ₹ 1,74,389 |
| 555 days | 5.00% to 5.50% | ₹ 1,07,848 - ₹ 1,08,661 |
| 777 days | 5.00% to 5.50% | ₹ 1,11,158 - ₹ 1,12,332 |
Central Bank of India Fixed Deposit Calculator
Central Bank of India fixed deposit calculator helps you to calculate maturity value of your deposited amount at the interest rate offered compounded at quarterly. The amount of fixed deposits, interest rates on FD, deposit tenure and compounding frequency of interest together determine the maturity amount of the FD at the end of the tenure.
Central Bank of India Fixed Deposit Interest Calculator – Interest Payment Options
FD Maturity Calculator
The interest earned on a fixed deposit in Central Bank of India depends on the deposit amount, interest applicable, deposit tenure and the type of interest calculation frequency. Interest on Central Bank of India FD can be calculated monthly, quarterly, half-yearly and annually. The interest rates for senior citizens are higher than normal rates of Central Bank of India FD.
Suppose if you make an investment of ₹ 1,00,000 in Central Bank of India FD for a 5-year tenure at an interest rate of 5.10% for depositors below 60 years and 5.60% for senior citizens. The maturity amount for this deposit amount is ₹ 1,28,838 and the total interest earned is ₹ 28,838 for below 60 years age citizens. However, the interest earned for senior citizens is ₹ 32,056 which is higher. The maturity schedule of Central Bank of India FD for 5 years is explained below in the table –
Maturity Schedule for ₹ 1,00,000 FD at 5.10% for Citizens below 60 years and at 5.60% for Senior Citizens for 5 years
| Year | Citizens below 60 Years of Age | Senior Citizens above 60 Years | ||||
|---|---|---|---|---|---|---|
| Interest Earned | Closing Balance | Interest Earned | Closing Balance | |||
| 2020 | ₹ 1,704 | ₹ 1,01,704 | ₹ 1,871 | ₹ 1,01,871 | ||
| 2021 | ₹ 5,287 | ₹ 1,06,991 | ₹ 5,826 | ₹ 1,07,697 | ||
| 2022 | ₹ 5,562 | ₹ 1,12,553 | ₹ 6,159 | ₹ 1,13,856 | ||
| 2023 | ₹ 5,851 | ₹ 1,18,404 | ₹ 6,511 | ₹ 1,20,367 | ||
| 2024 | ₹ 6,155 | ₹ 1,24,559 | ₹ 6,883 | ₹ 1,27,250 | ||
| 2025 | ₹ 4,280 | ₹ 1,28,839 | ₹ 4,806 | ₹ 1,32,056 | ||
Central Bank of India FD Calculator Formula
Along with online FD Calculator, you can use the formula to do the mathematical calculation of the maturity amount and interest earned on Central Bank of India FD.
A = P (1 + r/n) ^ n*t
In the above formula –
FAQs
✅What is the highest interest earned on Central Bank of India fixed deposit?
You can earn a maximum interest of 5.10% on Central Bank of India fixed deposit.
✅How is Central Bank of India FD interest calculated?
The formula to calculate interest on Central Bank of India FD is
A = P(1+r/n)^nt
Here: A = Maturity amount
P = Invested amount
r = Interest rate as decimal
n = number of times interest is compunded
t = tenure of deposit
However, you can use online FD calculator to estimate the value of interest earned on the deposited amount.
✅How many years FD will double in Central Bank of India?
The growth of Central Bank of India FD depends on the rate of interest and tenure. There is a method called Rule 72, which computes the number of years it will take to double one’s amount invested in Central Bank of India FD. Now to apply the rule, one needs the rate of interest we get on FD. Let’s say the interest offered on FD is 7.35%. Now applying the rule, just divide the number 72 by the rate of interest. So 72/7.35 = 9.80. So it will take a little more than 14 years for one’s investment to get doubled in Central Bank of India.
✅What are the minimum and maximum amounts that I can invest in an Central Bank of India FD?
The minimum investment limit in Central Bank of India Fixed deposit account is ₹ 1,000 and there is no maximum investment limit on FD.
- 2020-03-18 : Central Bank revised its FD rate
Central Bank changed its FD rates with effect from 18 March 2020. The fixed deposit rate for 7 to 45 days is 4.50%, for 46 to 90 days it is 5% and it is 5.40 for 91 to 179 days. Further, the FD rates for 180 to 364 days 5.75% and it is 6% for one year to upto ten years. - 2019-12-09 : Central Bank of India FD rates revised for certain tenors
Central Bank of India revised its interest rates on Fixed Deposits on certain time periods for this month on December 8, 2019. The rate is revised for a period of 1-2 years to 6.40%, which was earlier set at 6.30%. Also, for a special period of 555 days, the rate is revised to 6.40% from 6.30%. The rate for both tenors has been changed by ten basis points. - 2019-01-28 : Central Bank of India revises interest rate on fixed deposits by 5 basis points
Central Bank of India has revised the interest rate of fixed deposits on January 25, 2019. The interest rates have been hiked for fixed deposits less than Rs. 1 crore only. Interest rate of fixed deposit with 1 year has been hiked to 6.65% earlier it was 6.60%. While the rates for 5 years has been hiked to 6.55% from 6.50% respectively. - 2018-07-31 : Central Bank of India loss widens to Rs 1522 crore in Q1
Central Bank of India has reported the Q1 result. The net loss widened by 74% at Rs 1522 crore against the net loss of Rs 576 crore a year ago. The bank has received the tax credit of Rs 862 crore in Q1 against Rs 241 crore in same period last year. Total business, including deposits and advances, was up a shade at Rs 468535 crore against Rs 466360 last year.