City Union Bank Fixed Deposit calculator – FD Options
In a periodic interest payout option, City Union Bank would transfer the interest earned at each interval (say, quarterly) to your bank account. The interest would remain the same across the life of the deposit. On maturity, unless the deposit is renewed, would transfer the principal amount to your bank account.
In case you opt for a City Union Bank cumulative deposit, on maturity you would get a credit for the principal and interest earned net of TDS.
Calculate the FD maturity amount using the FD calculator.
Fixed Deposit calculator City Union Bank – Will TDS be deducted?
In case the interest earned by you across all your fixed deposits across all branches of City Union Bank in a year exceeds 0, the bank must deduct TDS at 10.3%. In case your IT PAN is not updated in the City Union Bank records, it must deduct twice the TDS at 20.6%. So, do remember to update your PAN on your FD.
Sorry, but we aren’t done with tax yet. This was only the TDS. Now, you would need to add the interest income on all your City Union Bank FD’s and other FD’s to your taxable income for the year. Based upon your tax bracket, income tax is payable on this income. Remember that you must estimate the interest income and all your other incomes and, based on this, pay advance tax on advance tax payment dates (15th Sep, 15th Dec, 15th March and 31st March).
City Union Bank will also issue you a Form 16A giving details of tax deducted on FD interest and tax deposited by it with government treasury. The TDS amount deposited by the bank with Income Tax Department can be verified in your 26AS statement available online on IT department website or through your net banking account. You can claim credit for the TDS amount in your annual Income Tax Return.
City Union Bank FD interest rate calculator – Check your city
Keep your KYC documents - PAN card, address proof and photo ready.
21st Nov 16 City Union Bank net profit increases by 15 percent
City Union Bank reported an increase of 15 percent in its net profit at Rs. 123 crores in July to September quarter as compared to Rs. 107 crores during same period last year. Net interest income during the period rose to Rs. 301 crores from Rs. 240 crores in same period of last year.
01st Sep 16 City Union Bank has reduced its MCLR from 1st September, 2016
City Union Bank has reduced its Marginal Cost Based Lending Rate (MCLR) across maturities, effective from 1st September, 2016. The 3month, 6 month and 1 year MCLR has been reduced by 25 basis points to 9.6, 9.65 and 9.75 percent respectively. Similarly, the overnight and 1 month MCLR has been reduced 20 basis points to 9.5 and 9.55 percent respectively. For borrowers who have taken a home loan from City Union Bank after 1st April 2016, the reduction in MCLR will translate into a reduction in their home loan rates and hence their interest outgo. However, if you have taken home loan at fixed interest rate then your interest expense will remain unchanged.
14th Aug 16 City Union Bank posts 10.73 per cent growth in profits
City Union Bank has reported an increase of 10.73 per cent in the net profit to Rs. 124 crore in the June quarter of FY17 from Rs. 112 crore in the same period of previous fiscal. Total income of the bank increased to Rs. 883.3 crore in first quarter of FY17 from Rs. 810.93 crore in the same period a year earlier. Gross NPAs and Net NPAs of the bank as a percentage stood at 2.62 per cent and 1.59 per cent in the June quarter from 2.01 per cent and 1.32 per cent in the corresponding period of FY16.
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