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RBL Bank FD Calculator 2023

The RBL Bank FD calculator is an extremely user-friendly tool that lets you calculate your FD maturity and interest amount in a quick and hassle-free manner. To use the RBI Bank FD rates calculator, all you need to do is select the principal amount, tenure of the deposit, and interest rate. The FD calculator will calculate the total interest your FD investment will earn for your horizon, along with the amount that you will receive when the FD matures.

Total Investment

Rate of Interest (P.a)

%

Time Period (Years)

Invested Amount

0

Est. Returns

Total Value

How to Use RBL Bank Fixed Deposit Calculator?

RBI Bank FD calculator is an online tool that digitises and automates the application of formulas to calculate the maturity value of your FD and helps you calculate returns on your fixed deposit hassle-free. It helps you to make better investment decisions by aiding in your financial planning process. The tool is very simple and easy to use. Just follow these simple steps:
  • Step 1 : Select the total investment/ principal amount
  • Step 2 : Select the applicable rate of interest
  • Step 3 : Select the tenure of your investment
Once you provide this information, the FD calculator will use a formula to calculate the interest amount and the maturity value of your FD.

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RBL Bank FD Interest and Maturity Amount Calculation Formula

The FD interest and maturity amount can be calculated through the compound or simple interest methods. The interest earned and the maturity amount will vary with the frequency of interest payout, which can be annual, semi-annual, quarterly, or monthly, depending on the bank’s policy. Some banks also offer specific FD schemes to cater to the duration of payouts the depositors may desire.  

Here is the formula to calculate interest on FD through a simple interest method: 

Simple Interest = (P * R * T)/100

Here, P = Principal amount, R = Rate of interest (%) and T = Tenure of deposit

Now, let’s take a simple example to understand how this formula works. 

Suppose you deposit Rs. 2 lakh in RBL Bank Fixed Deposit for 10 years at an annual Interest rate of 6%. The interest is calculated on a yearly basis. Here, P = Rs. 2 lakh, R = 10% and T = 6 years.

Simple Interest = (2,00,000 *10 * 6) /100 = ₹1,20,000

Maturity Amount = Principal Amount + Simple Interest = ₹2,00,000 + ₹1,20,000 

Hence, the value of FD maturity would be ₹3,20,000. 

Let’s now look at compound interest calculation. Here is the formula to calculate RBL Bank FD Interest and maturity through the compound interest method: 

A = P (1+r/n) ^ (n * t)

Here, A = Maturity Amount, P = Principal amount, r = Interest Rate, t = Tenure, and n = Number of times compounding in a year

Now, taking the same example as above, suppose you deposit Rs.2 lakh in RBL Bank Fixed Deposit for a tenure of 10 years at an annual Interest rate of 6%. The interest is calculated on a semi-yearly basis. 

Here, P = ₹2 lakh, R = 6% and T = 10 years, n= 2 (compounding is done semi-annually).

A = 2,00,000 (1+0.06/2) ^ (2*10)

Maturity Amount = ₹3,61,222

Compound Interest = ₹3,61,222 – ₹2,00,000 = ₹1,61,222

Benefits of Using RBL Bank Fixed Deposit Interest Calculator

There are several benefits of using the RBL Fixed Deposit calculator. Let us know some of them: 

Quick and Accurate Results

Manual calculations can be complex and time-consuming. As an alternative, you can use the RBL Bank Fixed Deposit calculator to get quick and accurate results.

Completely Free

RBI Bank FD calculator is completely free and can be used multiple times. The user-friendly interface elevates the overall functionality of the calculator.

Accurate Results

RBL Bank Fixed Deposit calculator is designed to provide accurate results in a fraction of a second. Just select the values and the calculator will estimate the interest earned and maturity amount in no time.

Financial Planning

RBL Bank FD calculator allows you to assess the suitability of a fixed deposit to your financial portfolio. You can use the calculator to better plan your finances and experiment with various deposit amounts and tenure to check the impact on your FD maturity amount.

Frequently asked questions

You can access the Fixed Deposit Calculator RBL Bank on our website. Our calculators are easy to use and provide accurate solutions.
You can use the RBL Bank FD calculator to compare different investment options based on FD tenure, rate of interest, and frequency of compounding. It will help you assess your investment for returns and figure out ways to meet your financial goal, apart from helping you understand the suitability of the fixed deposit to your financial plan.
The maturity value and interest amount depend on the rate of interest. Let’s say the interest rate is 6.5% compounded annually. Then, the maturity value of your RBL Bank FD would be ₹68,504, out of which you have earned interest of Rs. 18,504 on the FD investment. Use the online calculator to vary the amount and tenure to find maturity value instantly and accurately.
RBL Bank allows premature partial withdrawals before the maturity period subject to penalty. On premature partial or full withdrawal of the Fixed Deposit, interest on FD shall be paid for the period for which the fixed deposit is maintained with the Bank and at the rate which was applicable on the date the fixed deposit was placed subject to a penalty of 1% on such rate.
There is no penalty for premature withdrawal of RBL Bank Fixed Deposits by senior citizens/super senior citizens.
Disclaimer : Navi does not guarantee accuracy, completeness, or correct sequence of any of the details provided therein and therefore no reliance should be placed by the user for any purpose whatsoever on the information contained/data generated herein or on its completeness/accuracy. The use of any information set out is entirely at the User’s own risk.

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What is RBL Bank Fixed Deposit Interest Rate in 2023?

RBL Bank recurring deposit interest rate ranges from 3.50% to 8.55% (which includes the super senior citizen scheme). The interest rate varies on the tenure selected by you. Some of the highlights on RBL Bank FD interest rate are stated as follows:

  • Interest Rate: 3.5% to 8.55%
  • Tenure: 7 days to 20 years
  • Minimum Deposit: ₹5000
  • Maximum Deposit: No Upper Limit
  • Lock-in Period: 7 days (For Tax Saver FD: 5 years lock-in)

Ways to Calculate RBL Bank Fixed Deposit Interest and Maturity Amount

You can calculate RBL Bank Fixed Deposit interest and maturity value in two methods – 

  1. Simple Interest Method
  2. Compound Interest Method 

The formula to calculate RBL Bank FD interest and maturity value via simple interest method is:

Simple Interest = (P * R * T)/100

Where, P = Principal amount, R = Rate of interest (%) and T = Tenure

Now, let’s understand this with an example. Let’s say you have invested Rs.1 lakh for a tenure of 10 years at a 7% p.a. interest rate. In this case, P = Rs.1 lakh, R = 7%, and T = 10 years.

Simple Interest = (1,00,000 * 7 * 10) /100 = ₹70,000

Maturity Amount = Principal Amount + Simple Interest = Rs.1,00,000 + Rs.70,000 

So, at the time of your FD maturity, you will get ₹1,70,000

The other method to calculate RBL Bank FD interest and maturity value is via the compound interest method. The formula is:

A = P (1+r/n) ^ (n * t)

Where A = Maturity Amount, P = Principal amount invested, r = Rate of Interest, n = Number of compounding in a year and t = Tenure

A = P (1+r/n) ^ (n * t)

Here, A = Maturity Amount,

P = Principal amount

r = Interest Rate

t = Tenure, and

n = Number of times compounding in a year

Now, suppose you deposit Rs. 2 lakh in RBL Bank Fixed Deposit for a tenure of 10 years at an annual Interest rate of 5%. The interest is calculated on a semi-yearly basis. 

Where, P = Rs. 2 lakh, R = 5% and T = 10 years, n= 2 (compounding is done semi-annually).

A = 2,00,000 (1+0.05/2) ^ (2*10)

Maturity Amount = ₹3,27,723

Compound Interest = ₹3,27,723 – ₹2,00,000 = ₹1,27,723

How Can RBL Bank FD Calculator Help You?

  • Simplicity and accuracy : RBL Bank FD calculator 2023 is simple and accurate. It can help with difficult calculations and avoid incidences of errors. With the calculator, you just need to put in the necessary details and get the interest and maturity value calculated.
  • Investment Planning : You can use the RBL FD calculator several times with varying deposit amounts and types of accounts to make an informed decision and do effective investment planning.
  • Flexibility :The FD Calculator allows you to select the tenure and deposit amount of your FD. This enables you to customise your investment as per your goals and budget.

Factors that can affect RBL Bank Fixed Deposit Maturity Amount Calculation

The following factors can affect RBL Bank Fixed Deposit Maturity Amount Calculation:
  • Investment Amount: The investment amount is the primary factor that affects your maturity amount. The more you invest, the more interest you will earn and the higher will your maturity value be. Hence, it is necessary to consider your investment goals and objectives and deposit the amount aligned with your financial planning.
  • Tenure of the deposit :Deposit tenure plays a significant role in determining the maturity value. The interest rates are correlated to the deposit tenure. RBL Bank offers higher interest rates if you keep your fixed deposits for a longer tenure.
  • Rate of interest:The maturity value is directly proportionate to the interest rate offered. The higher the interest, the higher would be the maturity value. The rate of interest offered by RBL Bank on its fixed deposit for amounts less than Rs 2 crore ranges from 3.5% to 7.80% for the general public. Further, it offers 0.5% higher interest to senior citizens and 0.75% higher to super senior citizens.
Use the RBL Bank FD calculator to plan your finances and achieve your financial goals efficiently. You would be able to check the expected maturity amount and interest earned from your deposit.
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