Central Bank of India FD Calculator
The Central Bank of India FD Calculator is a powerful online tool that helps you accurately estimate the maturity amount and interest earned on your Fixed Deposit. Whether you’re a regular saver or a senior citizen, the calculator helps you make informed financial decisions with just a few inputs.
What is a Fixed Deposit in Central Bank of India?
A Fixed Deposit (FD) with the Central Bank of India is a secure investment option where you can deposit a lump sum amount for a predetermined period at a fixed interest rate. At maturity, you receive your principal amount along with the interest accrued over the tenure. It is a preferred investment for risk-averse individuals looking for guaranteed returns.
How to Use the Central Bank FD Calculator
To calculate your FD returns, simply enter:
- Deposit Amount (e.g., ₹10,000 or more)
- Tenure (from 7 days up to 10 years)
- Interest Rate (as offered by the Central Bank based on tenure and category)
- Compounding Frequency (monthly, quarterly, half-yearly, or yearly)
The calculator instantly displays your maturity value and interest earned, helping you plan your savings with ease.
Central Bank FD Interest Rates (2025)
The interest rates on FDs vary based on tenure and customer type:
- Regular Customers: Approx. 6.00% to 7.10% p.a.
- Senior Citizens: Extra 0.50% p.a. over regular rates
These rates are subject to change. Please check the bank’s official website for the latest rates.
FD Types Offered by Central Bank of India
- Short-Term Deposits: Tenures from 7 days to less than 1 year
- Medium & Long-Term Deposits: Tenures up to 10 years
- Tax Saving FDs: 5-year lock-in period with Section 80C tax benefits
- Senior Citizen Deposits: Higher interest rates for customers aged 60+
Example Calculation
Investing ₹1,00,000 for 5 years at 7.00% annual interest (compounded quarterly) will yield:
- Interest Earned: ₹40,715 (approx.)
- Total Maturity Amount: ₹1,40,715
Benefits of Using the FD Calculator
- Quick estimation of FD maturity amount
- Allows comparison of different tenures and rates
- Helps in planning tax-saving investments
- User-friendly and accessible 24/7
Taxation on FD Returns
Interest earned on FDs is fully taxable as per your income slab. TDS is applicable if total interest in a year exceeds ₹40,000 (₹50,000 for senior citizens). Form 15G/15H can be submitted to avoid TDS if you meet the eligibility criteria.
How to Open a Central Bank of India FD
- Visit a nearby Central Bank of India branch or use internet banking.
- Choose deposit amount, tenure, and interest payout option.
- Submit KYC documents if you’re a new customer.
- Transfer the funds and receive your FD receipt.
Conclusion
The Central Bank of India FD Calculator simplifies investment planning by helping you estimate the exact returns from your Fixed Deposit. With reliable interest rates, flexible tenures, and a wide range of FD products, Central Bank of India offers a dependable option for safe wealth accumulation. Use the calculator to compare returns and make informed financial decisions.
Visit the official website to explore current interest rates and begin your FD investment today.