Central Bank of India RD Interest Calculator

Last Updated 30th Jun 2020

RD Calculator Central Bank in India Jul 2020

Tenure General Rates Senior Citizen Rates
180 days to 269 days 6.35% 6.85%
270 days to 364 days 6.40% 6.90%
1 year 1 day to 1 year 364 days 7.00% 7.50%
2 years to 2 years 364 days 6.70% 7.20%
3 years to 4 years 364 days 6.20% 6.70%
5 years to 10 years 6.20% 6.70%

Calculate RD Maturity Amount of All Banks in India

Central Bank of India RD Calculator
Rs.
%
FD Offers with High Returns offerOffers
Bank/NBFCs Rate Tenure Action
Bajaj Finance7.35%60 MonthsAPPLY
PNB Housing Finance8.00%120 MonthsAPPLY

Central Bank Recurring Deposit Calculator

Central Bank of India, a leading Public Sector Bank in India offers attractive interest rates upto 7.00% on its Recurring deposits.
RD maturity amount that you will get depends upon

  • Deposit amount
  • Rate of interest
  • RD tenure
  • Compounding frequency
  • TDS applicability and TDS rate

Central Bank Recurring Deposit Interest Calculator

  • In a periodic interest payout option, Central Bank of India would transfer the interest earned at each interval (say, quarterly) to your bank account. The interest would remain same across the life of the deposit. On maturity of RD, unless the deposit is renewed, would transfer the principal amount to your bank account.
  • In case you opt for a Central Bank of India cumulative deposit, on maturity you would get a credit for the principal and interest earned net of TDS.
  • Calculate the RD maturity amount using the RD calculator.

Tax on Recurring Deposit Central Bank of India

  • In case the interest earned by you across all your recurring deposits across all branches of Central Bank of India in a year exceeds 10,000, the bank must deduct TDS at 10.3%. In case your IT PAN is not updated in the Central Bank of India records, it must deduct twice the TDS at 20.6%. So, do remember to update your PAN on your RD.
  • We aren’t done yet. This was only the TDS. Now, you would need to add the interest income on all your Central Bank of India RD’s and other RD’s to your taxable income for the year. Based upon your tax bracket, income tax is payable on this income. 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).
  • Central Bank of India will also issue you a Form 16A giving details of tax deducted on RD 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.

Central Bank RD interest rate calculator – Check your city

  • Keep your KYC documents - PAN card, address proof and photo ready.
  • To know more or apply, contact any of the branches of Central Bank of India in your city

Frequently Asked Questions on RD Calculator Central Bank of India

What is the highest interest earned on Central Bank of India recurring deposit?

You can earn a maximum interest of 7.00% on Central Bank of India recurring deposit.

Are there any extra benefits for senior citizens on fixed deposit of Central Bank of India?

Yes, senior citizens get extra benefit of 0.5% interest rates on their RD in Central Bank of India.


*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
Earn upto 8.00% Return