Ratnakar Bank Fixed Deposit calculator – FD Options
In a periodic interest payout option, Ratnakar 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 Ratnakar 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 Ratnakar Bank – Will TDS be deducted?
In case the interest earned by you across all your fixed deposits across all branches of Ratnakar Bank in a year exceeds 0, the bank must deduct TDS at 10.3%. In case your IT PAN is not updated in the Ratnakar 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 Ratnakar 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).
Ratnakar 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.
Ratnakar Bank FD interest rate calculator – Check your city
Keep your KYC documents - PAN card, address proof and photo ready.
23rd Jan 17 RBL registers growth of 59 percent in its net profit in third quarter of FY 17
Ratnakar Bank has reported a growth of 59 percent in its net profit at Rs 129 crore for the third quarter of FY17 as compared to Rs. 81 crore for the corresponding quarter of FY16. Gross non performing assets of the bank have reduced to 0.52 percent during the quarter as compared to 0.69 a year ago. As per a leading official of the bank, its retail loan book comprising of loan against property and business loan has fallen steeply to 40 percent during the current quarter as a fallout of demonetisation.
13th Jan 17 RBL cuts saving account deposit rates to 6 percent
Ratnakar Bank has reduced its saving account deposit rate for deposits up to Rs. 10 lakhs to 6 percent as compared to 6.1 percent earlier. The revised deposit rate for bulk deposits up to Rs. 50 lakhs now stands at 6.5 percent as compared to 7 percent earlier. The rates are effective from 6th January, 2017.
22nd Dec 16 RBL Bank reduces its MCLR up to 45 bps
Ratnakar Bank Limited has reduced its overnight and one month marginal cost of lending rates by 30 bps to 9.70 percent as compared to 10 percent earlier. The revised MCLR rates for six month and one year lending now stands reduced at 9.80 and 9.85 percent respectively. The bank has also reduced its three year lending rate by 45 bps to 10.05 percent. New rates are effective from 22nd December, 2016.
14th Dec 16 RBL Bank organizes an initiative for girl child education
RBL Bank organised a cyclothon named Umeed 1,000 to raise funds and spread awareness for the education of underprivileged girl child. The theme of the initiative matches the core philosophy of the bank that is Apno Ka Bank.
01st Dec 16 RBL Bank launches Aadhaar based disbursement of micro loans
Ratnakar Bank has launched Aadhaar Payment Based System (APBS) scheme for micro loan disbursements. With this, RBL becomes the first bank to provide cashless disbursement of micro loans. Under the new system, the bank will transfer the loan amount directly to the Aadhaar enabled bank accounts of micro loan borrowers.
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