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RBL FD Calculator

₹
%
Invested amount₹ 1,00,000
Estimated returns₹ 32,500
Total value₹ 1,32,500
Invested amountTotal returns

The RBL FD calculator helps you calculate the interest and accrued amount at maturity. It is a user-friendly tool that can be used by everyone. The calculator requires some basic information such as the deposit amount, interest rate, and tenure to let you know how much you will earn if you choose the periodic payout option, as well as, the cumulative option. When you know how much amount you will be able to earn through your FD investment, you will be able to plan for your goals efficiently.

A fixed deposit (FD) is a financial instrument offered by a financial instrument. It gives investors a higher interest rate than a regular savings account. The tenure of FDs can range from 7 days to 10 years. So, you can choose the tenure that is suitable for your financial needs.

Here, we will be focusing on two different types of fixed deposits - non-cumulative and cumulative FD. With non-cumulative FDs, the interest is paid to the investor regularly. They can choose the payout frequency such as monthly, quarterly, semi-annually, and annually. With cumulative FDs, the interest is accrued or collected until the maturity of the FD. The interest amount is compounded over the term of the deposit and paid at maturity.

How Does The RBL Fixed Deposit Calculator Work?

Using the below formula, the calculator calculates the maturity for simple interest (non-cumulative) FDs.

M = P + (P x t x r/100)

Where,

M is the Maturity amount
P is the Principal amount that you deposit
r is the rate of interest per annum
t is the tenure in years

Using the below formula, the calculator calculates the total maturity amount for cumulative FDs.

M = P (1 + r/n) ^ (n x t)

Where,

M is the Maturity amount
P is the Principal amount that you deposit
r is the rate of interest per annum
n is the number of times the amount is compounded
t is the tenure in years

Example:

Ms. Hema wants to put ₹6.4 lakhs into a fixed deposit, offering an interest rate of 7.5% for a tenure of 4 years. She wishes to receive a payout semi-annually. Let’s calculate her interest income and payout amount using the simple interest formula.

M = P + (P x t x r / 100)
M = 6,40,000 + (6,40,000 x 4 x 7.5/100)
M = 6,40,000 + (6,40,000 x 4 x 0.075)
M = 6,40,000 + 1,92,000
M = ₹8,32,000

Interest = 8,32,000 - 6,40,000
Interest = ₹1,92,000
Interest payable every six months = 1,92,000 / 8= ₹24,000

So, if Ms. Hema invests ₹6.4 lakhs in an FD for an interest rate of 7.5% and a tenure of 4 years, she will be earning a total amount of ₹8.32 lakhs and a semi-annual payout of ₹24,000. She will also receive her principal amount of ₹6.4 lakhs at the end of the tenure.

Let’s take the same example but calculate the maturity amount using the compound interest formula. Here, Ms. Hema chooses to receive her maturity amount at the end of the FD tenure.

M = P (1 + r/n) ^ (n x t)
M = 6,40,000 (1 + 0.075)^(1 x 4)
M = 6,40,000 (1.075)^4
M = 6,40,000 x 1.335469140625
M = ₹8,54,700

So, if Ms. Hema chooses to invest her money in a non-cumulative FD, she will be earning an amount of around ₹8.54 lakhs at the end of the tenure.

How To Use The RBL Fixed Deposit Calculator?

It’s fairly easy to use a fixed deposit calculator.

  • The first step is to choose the type of payout you would like to receive: annual payout or cumulative payout.
  • Then, you would have to enter the amount of money you are planning to put in the FD.
  • Later, you should mention the interest rate.
  • The final step is to specify the tenure of the FD.

You will be shown the total interest, and the maturity amount shortly after providing the information.

Benefits Of Using The RBL Fixed Deposit Calculator?

There are several advantages to using the fixed deposit calculator.

  • The fixed deposit calculator is a reliable tool as it is automatic and gives accurate results.
  • The calculator is simple to use. You don’t need to have advanced knowledge to use it, making it accessible for everyone.
  • Since everyone has different amounts to invest, varying tenure to keep money invested, and unique goals, the calculator can help produce customized results according to everyone’s needs.
  • The calculator saves you a lot of time and energy by giving results instantly.

RBL FD Calculator - FAQs

What are the different types of fixed deposits?
There are different types of fixed deposits, including cumulative FDs, non-cumulative FDs, bank deposits, company deposits, senior citizen FDs, NRIs FDs, regular FDs, tax-saving FDs, standard FDs, etc.
What are the documents required for opening a fixed deposit?
To open an FD account with a bank, you should provide a photocopy of a government-issued identification card, a completed and signed application form, a passport-sized photograph, and proof of residence.
Are fixed deposit investments safe?
Fixed deposits are generally considered a safe investment option offered by banks and other financial institutions. They are not affected by market conditions or fluctuations in interest rates. However, it is important to carefully consider the credibility and reputation of the issuer before investing in an FD.