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RBL Bank FD Calculator

RBL Bank Fixed Deposit Calculator 2022

Last Updated 14th Jan 2022

RBL Bank FDs have tenures ranging from 10 years to 20 years with maximum rate of interest of 6.75%. Interest rates for senior citizens are higher than the normal rates and ranges upto 6.80%.

Tenure Interest Rate for General Public Interest Rate for Senior Citizens Max Maturity Amount per Lakh
7 days to 14 days 3.25% 3.75% ₹ 1,00,062 - ₹ 1,00,144
15 days to 45 days 3.75% 4.25% ₹ 1,00,154 - ₹ 1,00,524
46 days to 90 days 4.00% 4.50% ₹ 1,00,504 - ₹ 1,01,110
91 days to 180 days 4.50% 5.00% ₹ 1,01,122 - ₹ 1,02,481
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RBL Bank Fixed Deposit Calculator

RBL Bank fixed deposit calculator helps you calculate maturity value of your deposited amount at the interest rate which is compounded 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. Banks may allow a higher interest rate on larger deposits. RBL Bank offers a deposit amount in the range of Rs. 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 6.75% for deposit amount below Rs. 1 crore corresponding to a deposit tenure of 10 years to 20 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 3.25% for a 10 years FD and a rate of 6.75% for a 20 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 - A TDS of 10% of interest amount is applicable if you earn more than Rs 40,000 in a year from FD, which is called FD income. If you do not submit the PAN Card to the bank then TDS rate will be 20% of interest amount.
    • Illustration: Mr. A opens a FD account of ₹ 1,00,000 with a tenure of 7 days at an interest rate of 3.25%. 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 a tax saving scheme to save tax on fixed deposit.

How to Use MyLoanCare FD Calculator

Here is a simple procedure to use MyLoanCare FD calculator:-

  • Go to the FD Calculator.
  • Fill the fields like Deposit Amount, Rate of Interest, Period of Deposit (In years or months), Interest compound frequency.
  • Click Calculate.
  • Result will be shown, which will consist of total maturity amount and total interest earned

RBL Bank Fixed Deposit Interest Rate Calculator – Interest Payment Options

  • Non Cumulative- 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.
  • Cumulative- 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.

How is RBL Bank FD Rate Calculated?

RBL Bank calculates fd interest in two ways, one is cumulative and non-cumulative as discussed above. It is a decision made by you whether you want interest payout at the end of the tenure or monthly, quarterly, half-yearly or yearly. To earn more money you can go for a cumulative method because interest earned throughout the tenure is added to the principal amount and is compounded then. However, if you are looking for monthly income or so then you can go for non-cumulative.

RBL Bank FD Maturity Calculation for 5 Year

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.

Let’s understand how much interest you will earn if you invest ₹ 1,00,000 in RBL Bank FD for a 5-year tenure at an interest rate of 6.75% for depositors below 60 years and 6.80% for senior citizens.The maturity schedule of RBL Bank FD for 5 years is explained below in the table –

Maturity Schedule for ₹ 1,00,000 FD at 6.75% for Citizens below 60 years and at 6.80% 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
2022 ₹ 6,923 ₹ 1,06,923 ₹ 6,975 ₹ 1,06,975
2023 ₹ 7,402 ₹ 1,14,325 ₹ 7,462 ₹ 1,14,437
2024 ₹ 7,914 ₹ 1,22,239 ₹ 7,982 ₹ 1,22,419
2025 ₹ 8,462 ₹ 1,30,701 ₹ 8,539 ₹ 1,30,958
2026 ₹ 9,048 ₹ 1,39,749 ₹ 9,135 ₹ 1,40,093

RBL Bank FD Calculator Formula

Along with an 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

Other Investment Calculators

FAQs

What is the highest interest earned on RBL Bank fixed deposit?

You can earn a maximum interest of 6.75% on RBL Bank fixed deposits.

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.You can also use RBL Bank fd calculator to calculate the maturity amount. Now to apply the rule, one needs the rate of interest we get on FD. Let’s say the interest offered on FD is 7.05%. Now applying the rule, just divide the number 72 by the rate of interest. So 72/7.05 = 10.21. 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.

Can I withdraw my premature FD from RBL Bank?

Yes, you can withdraw your premature FD amount if you want money before the tenure ends. However, you might have to pay a penalty fee ranging from 1% of FD amount for premature withdrawal.

How can I calculate RBL Bank premature FD amount?

To calculate premature FD amount you can use RBL Bank bank fd calculator. All you have to put is the value of the invested amount, tenure, interest rate and premature penalty rate (if any).


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RBL Bank News - Jan 2022
  • 2021-09-02 : RBL Bank slashes fixed deposit rates
    RBL Bank has decreased fixed deposit rates on different tenures for deposit amounts up to Rs 3 crore. The bank is offering an interest rate of 5.00% on 181 days to 240 days, 6.30% on 36 months to less than 60 months tenure.
  • 2021-07-02 : RBL Bank revised its fixed deposits rates
    With effect from 02 July 2021, RBL Bank revised its interest rates on FD. The revised rate for a tenure of 7-14 days is 3.25%; for 15-45 days the rate is 3.75%; the rate for 46-90 days is 4%; for 91-180 days it is 4.50%, and for 181-240 days it is 5%, it is 5.40% for 241-364 days. For longer tenure of 12 months to less than 36 months, the rate is 6.10%, for 36 months to less than 60 months the rate is 6.30%. For 60 months to 60 months 1 day the rate is 6.50% and for 60 months 2 days to less than 120 months, the rate is 6%. For the longest tenures, i.e for 120 months to 240 months, the rate stands at 6% while for the Tax Savings Fixed Deposits of 60 months, the rate has been revised to 6.50%.
  • 2021-03-09 : RBL Bank planning branch expansion
    RBL Bank plans aggressive branch expansion over the next few years and target to open at least 75 new branches annually. The expansion will help the bank to increase its loan and deposits portfolio.
  • 2021-03-03 : Revised fixed deposits rates for RBL Bank
    With effect from 1 March 2021, RBL Bank revised its interest rates on FD. The revised rate for a tenure of 7-14 days is 3.25%; for 15-45 days the rate is 4%; the rate for 46-90 days is 4.50%; for 91-180 days it is 5.25%, and for 181-240 days it is 5.70% , it is 5.75% for 241-364 days the rate is 6.75%. For longer tenures of 1-2 years and 364 days, the rate is 6.50% for 3 years and one day the rate is 6.60% and for 3 years 2 days to 20 years the revised rate is 6.25%.
  • 2020-10-30 : RBL Bank Q2 net profit surges to ₹144 cr
    RBL Bank reported almost a three times increase in profit in the quarter ended September backed by retail loans like home, personal, car, two-wheeler and gold loans along with business and mudra loans. Further, Net profit rose to Rs 144 crore in the quarter ended September 2020 up from Rs 54 crore a year earlier supported by 23% growth in retail advances year on year even as wholesale advances continued to shrink.
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