MyLoanCare is a FREE of cost service for borrowers

MyLoanCare - Baat Aapke Interest Ki

MyLoanCare Customer Ratings - 4.5/5.0

RBL Bank FD Calculator

RBL Bank Fixed Deposit Calculator 2020

Last Updated 29th Jul 2020

RBL Bank FDs have tenures ranging from 3 years to 3 years 1 day with maximum rate of interest of 7.25%. Interest rates for senior citizens are higher than the normal rates and ranges upto 7.75%.

Tenure Rates Maturity Amount for ₹ 1 Lakh
7 days to 14 days 4.00% to 4.50% ₹ 1,00,077 - ₹ 1,00,173
15 days to 45 days 4.50% to 5.00% ₹ 1,00,185 - ₹ 1,00,616
46 days to 90 days 5.50% to 6.00% ₹ 1,00,693 - ₹ 1,01,479
91 days to 180 days 5.75% to 6.25% ₹ 1,01,434 - ₹ 1,03,106
RBL Bank 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

RBL Bank Fixed Deposit Calculator

RBL Bank 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 RBL Bank. Bank may allow higher interest rate on larger deposits. RBL Bank 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. RBL Bank 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 RBL Bank is 7.25% for deposit amount below Rs. 1 crore corresponding to a deposit tenure of 3 years to 3 years 1 day.
  • 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 4.00% for a 3 years FD and a rate of 7.25% for a 3 years 1 day 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 4.00%. 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.

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

RBL Bank Fixed Deposit Interest Calculator – Interest Payment Options

  • In a periodic interest payout option, RBL 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 RBL 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.

FD Maturity Calculator

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

Suppose if you make an investment of ₹ 1,00,000 in RBL Bank 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 RBL Bank 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

RBL Bank 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 RBL Bank 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 RBL Bank fixed deposit?

You can earn a maximum interest of 7.25% on RBL Bank fixed deposit.

How is RBL Bank FD interest calculated?

The formula to calculate interest on RBL Bank 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 RBL Bank?

The growth of RBL Bank 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 RBL Bank 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 RBL Bank.

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

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


RBL Bank News - Sep 2020
  • 2020-01-16 : RBL Bank revises FD rates across certain tenors by five bps
    Private sector bank, RBL Bank revised its interest rates across certain tenors by five basis points. The revised rate for 12-24 months is 7.40% for 24-36 months it is 7.45%, and rates for 36 to 60 months are revised to 7.20%. Earlier, these rates were set at 7.45%, 7.50%, and 7.25%, respectively. Further, the rate for 60 months to 120 months is revised to 7.35% from 7.40%, and for 120 months to 240 months, the rate is revised to 6.85% from 6.90. Fixed Deposit rates for senior citizens vary by 50 basis points.
  • 2019-09-26 : RBL Bank revised its FD rates
    With effect from September 24, 2019, RBL Bank revised its interest rates on fixed deposits. The revised rate for a tenure of 7-14 days is 5.00%; for 15-45 days the rate is 5.50%; the rate for 46-90 days is 6.25%; for 91-180 days it is 6.50%, and for 181-364 days the rate is 6.75%. For longer tenure of 1-2 years, the rate is 7.60%; for 2-3 years it is 7.65%; for 3-5 years the rate is 7.35%; the rate for 5-10 months is 7.50%, and the revised rate for 10-20 years is 7.00%.
  • 2019-04-15 : Bajaj Finserv RBL Bank SuperCard offers 5% cash back on shopping
    The SuperCard which has been jointly announced by the NBFC Bajaj Finserv and private sector lender, RBL Bank in 2017 is offering attractive cashback of up to 5% on shopping. The offer is available to all the SuperCard members from 20th March to 20th June where you can avail cashback of up to Rs. 1,000 per transaction. Besides this, the NBFC is also planning to achieve significant growth across is personal loans and fixed deposits.
*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