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OBC FD Calculator

OBC Fixed Deposit Calculator 2020

Last Updated 01st Sep 2020

OBC FDs have tenures ranging from 3 years 1 day to 10 years with maximum rate of interest of 5.30%. Interest rates for senior citizens are higher than the normal rates and ranges upto 5.80%.

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 29 days 3.00% to 3.50% ₹ 1,00,123 - ₹ 1,00,278
30 days to 45 days 3.00% to 3.50% ₹ 1,00,247 - ₹ 1,00,432
46 days to 90 days 3.25% to 3.75% ₹ 1,00,410 - ₹ 1,00,925

OBC has merged into Punjab National Bank on April 1, 2020. The interest rates of Punjab National Bank will now be applicable on OBC.

OBC FD Maturity Calculator
Investment Offers with High Returns offerOffers
Bank/NBFCs Rate Tenure Action
Bajaj Finance FD7.35%60 MonthsAPPLY
PNB Housing Finance FD7.20%120 MonthsAPPLY
DBS Bank Savings Account5.00%N.A.APPLY

OBC Fixed Deposit Calculator

OBC 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.

  • Deposit amount – This is the initial amount deposited by a customer in OBC. Bank may allow higher interest rate on larger deposits. OBC offers deposit amount in the range of 1,000 to No Limit.
  • Rate of Interest - Interest rate is the rate charged by the bank on your fixed deposit. OBC offers a higher rate of interest on fixed deposits of longer tenure and lower interest rate on deposits of less than a year. Highest interest rate offered by OBC is 5.30% for deposit amount below Rs. 1 crore corresponding to a deposit tenure of 3 years 1 day to 10 years.
  • Period of deposit - Bank offers low interest rate for short tenure FDs and higher interest rate for long tenure FDs. Bank offers a rate of 3.00% for a 3 years 1 day FD and a rate of 5.30% for a 10 years FD.
  • Interest Compounding Frequency - This determines the frequency at which interest is compounded. Compounding frequency can be monthly, quarterly, half yearly or annual frequency.
  • TDS applicability and TDS rate
    • Illustration: Mr. A opens a FD account of ₹ 1,00,000 with a tenure of 7 days at an interest rate of 3.00%. In this case, the maturity amount at the end of 7 days will be ₹ 1,00,671 which includes the principal of ₹ 1,00,000 and interest of ₹ 671 is earned on the principal amount during the period. Similarly, you can calculate the interest and maturity amount for higher tenures by using FD calculators.

      OBC calculates quarterly interest on its fixed deposits. You can also opt for tax saving scheme to save tax on fixed deposit.

OBC Fixed Deposit Interest Calculator – Interest Payment Options

  • In a periodic interest payout option, OBC 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 OBC 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.

FD Maturity Calculator

The interest earned on a fixed deposit in OBC depends on the deposit amount, interest applicable, deposit tenure and the type of interest calculation frequency. Interest on OBC FD can be calculated monthly, quarterly, half-yearly and annually. The interest rates for senior citizens are higher than normal rates of OBC FD.

Suppose if you make an investment of ₹ 1,00,000 in OBC FD for a 5-year tenure at an interest rate of % for depositors below 60 years and % for senior citizens. The maturity amount for this deposit amount is ₹ 1,00,000 and the total interest earned is ₹ 0 for below 60 years age citizens. However, the interest earned for senior citizens is ₹ 0 which is higher. The maturity schedule of OBC FD for 5 years is explained below in the table –

Maturity Schedule for ₹ 1,00,000 FD at % for Citizens below 60 years and at % 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 ₹ 0 ₹ 1,00,000 ₹ 0 ₹ 1,00,000
2021 ₹ 0 ₹ 1,00,000 ₹ 0 ₹ 1,00,000
2022 ₹ 0 ₹ 1,00,000 ₹ 0 ₹ 1,00,000
2023 ₹ 0 ₹ 1,00,000 ₹ 0 ₹ 1,00,000
2024 ₹ 0 ₹ 1,00,000 ₹ 0 ₹ 1,00,000
2025 ₹ 0 ₹ 1,00,000 ₹ 0 ₹ 1,00,000

OBC 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 OBC FD.

A = P (1 + r/n) ^ n*t
In the above formula –

  • A - Amount received on maturity
  • P – Deposit amount
  • r - Annual interest rate
  • n - Number of times the interest is compounded
  • t is Investment tenure

FAQs

What is the highest interest earned on OBC fixed deposit?

You can earn a maximum interest of 5.30% on OBC fixed deposit.

How is OBC FD interest calculated?

The formula to calculate interest on OBC 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 OBC?

The growth of OBC 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 OBC 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 OBC.

What are the minimum and maximum amounts that I can invest in an OBC FD?

The minimum investment limit in OBC Fixed deposit account is ₹ 1,000 and there is no maximum investment limit on FD.


OBC News - Sep 2020
  • 2020-03-30 : New FD rates for OBC bank
    OBC bank revised its FD rates with effect from 30 March 2020. The fixed deposit rate for 7 to 45 days is 4.50%, it is 5% for 46 to 179 days and stands at 5.75% for 180 days to one year. FD rates for long tenors of 1 year to upto one year is 6.05%. Further, the FD rate for the special tenor of 333 days is 5.85%.
  • 2019-09-19 : Revised FD rates for Oriental Bank of Commerce
    With effect from September 16, 2019, the Oriental Bank of Commerce has revised its FD rates. The revised rate on FD for a tenure of 7-30 days 5.40%; for 31-45 days the rate is 5.50%; for 46-90 days the rate is 5.60%; for 91-179 days it is 5.75%, and for 180 days to 1 year it is 6.00%. For longer tenure of 1 year to 679 days the rate is 6.60%; for 680 days it is 6.80%; the rate for 681 days to 2 years is 6.60%, and for 2-10 years the rate is 6.70%.
  • 2019-07-23 : Oriental Bank of Commerce’s Q1 net profit at Rs. 112 crores on better asset quality
    Public sector lender, Oriental Bank of Commerce has posted a net profit of Rs. 112 crore on the back of better asset quality and fewer provisions. The lender also has plans to achieve significant growth across its retail loan segment, including home loans and fixed deposits.
  • 2019-01-31 : Oriental Bank of Commerce revises interest rate on fixed deposits by 25 basis points
    Oriental Bank of Commerce has revised the interest rate of fixed deposits on January 14, 2019. The interest rates have been hiked for fixed deposits less than Rs. 1 crore only. Interest rate of fixed deposit with 91 days to 179 days has been hiked to 6.50% earlier it was 6.25%. While the rate for 1 year has been hiked to 7.00% from 6.75% respectively.
  • 2019-01-10 : Oriental Bank of Commerce revises interest rate on fixed deposits
    Oriental Bank of Commerce (OBC) has revised the interest rate of fixed deposits on January 1, 2019. The interest rates have been hiked for fixed deposits less than Rs. 1 crore only. Interest rate of fixed deposit with 7 to 14 days period has been hiked to 5.75%. While the rates for 46 to 90 days have been hiked to 6.25 %.
*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More