Central FD Calculator
Total value of investment
₹1,38,042
Fixed Deposit Interest Rates on Domestic Deposits of less than Rs 2 crore
| Tenure | Rate of Interest (% p.a.) |
| 7 days to 14 days | 2.75 |
| 15 days to 30 days | 2.9 |
| 31 days to 45 days | 3 |
| 46 days to 59 days | 3.35 |
| 60 days to 90 days | 3.5 |
| 91 days to 179 days | 4 |
| 180 days to 270 days | 4.65 |
| 271 days to 364 days | 4.75 |
| 1 year to less than 2 years | 5.45 |
| 2 years to less than 3 years | 5.5 |
| 3 years to less than 5 years | 5.5 |
| 5 years to 10 years | 5.6 |
| 555 days | 5.55 |
| 777 days | NA |
| Cent Double | NA |
Note: The FD interest rates are effective as of 10 September 2022
Fixed Deposit Interest Rates on Domestic Single Deposits of Rs 2 crore to Rs 10 crore
| Tenure | Interest Rates (% p.a.) |
| 7 days to 14 days | 4 |
| 15 days to 30 days | 4 |
| 31 days to 45 days | 4.5 |
| 46 days to 59 days | 3.1 |
| 60 days to 90 days | 3.5 |
| 91 days to 179 days | 4.5 |
| 180 days to 270 days | 5 |
| 271 days to 364 days | 5.5 |
| 1 year to less than 2 years | 4.1 |
| 2 years to less than 3 years | 5.75 |
| 3 years to less than 5 years | 5.5 |
| 5 years & above up to 10 years | 5.5 |
| 555 days | NA |
| 777 days | NA |
| Cent Double | NA |
Note: The FD interest rates are effective as of 10 September 2022
Central Bank of India Tax Saver Deposit (Cent Tax Saving Deposit)
| Tenure | Regular Citizens |
| 5 years | 5.60% |
Interest Rates on NRE deposit of less than Rs 2 crore
| Tenure | Interest Rate* (% p.a.) |
| 1 year to less than 2 years | 5.45 |
| 2 years to less than 3 years | 5.5 |
| 3 years to less than 5 years | 5.5 |
| 5 years to 10 years | 5.6 |
| 555 days | 5.55 |
Note: The FD interest rates are effective as of 10 September 2022
Interest Rates on NRE deposit of Rs 2 crore to Rs. 10 crore
| Tenure | Interest Rate* (% p.a.) |
| 1 year to less than 2 years | 4.1 |
| 2 years to less than 3 years | 5.75 |
| 3 years to less than 5 years | 5.5 |
| 5 years to 10 years | 5.5 |
| 555 days | NA |
Note: The FD interest rates are effective as of 10 September 2022
Interest Rates on FCNR (B) Deposits
| Tenure | Interest Rates (% p.a.) | ||||
| USD | GBP | EUR | CAD | AUD | |
| 1 year to less than 2 years | 4.25 | 2.39 | 0.52 | 3.1 | 2.7 |
| 2 years to less than 3 years | 4.1 | 2.79 | 0.72 | 4.1 | 3.2 |
| 3 years to less than 4 years | 3.98 | 2.89 | 0.92 | 4.35 | 3.55 |
| 4 years to less than 5 years | 4.08 | 2.89 | 0.92 | 4.4 | 3.8 |
| 5 years only | 4.13 | 2.89 | 0.92 | 4.4 | 3.9 |
| Overdue deposit | 3.25 | 1.39 | 0 | 2.1 | 1.7 |
Note: The FD interest rates are effective as of 1 September 2022
Interest Rates on RFC Fixed Deposit
| Period of USD Deposit | Interest Rates (% p.a.) |
| 6 months to less than 12 months | 3.25 |
| Overdue deposits | NIL |
Note: The FD interest rates are effective as of 1 September 2022
Central Bank FD Calculator
If you are a risk-averse investor, who likes investment avenues with low risk and guaranteed returns, fixed deposits might be the ideal option for you. Indian investors find fixed deposits to be a more reliable and convenient option compared to stock market and mutual funds which have high market risks.
Central Bank offers fixed deposits at an attractive interest rate and flexible deposit tenures. You can start investing for as low as ₹100. Central Bank fixed deposit calculator can help you calculate the accrued interest so that you can choose suitable FD schemes. Lets’ find out more.
Central Bank Fixed Deposit (FD) Calculator
Central Bank fixed deposit interest rates vary between 3% and 6.15% for a deposit amount less than or equal to ₹2 crore. For a deposit amount between ₹2 crore and ₹10 crore, the interest rate ranges between 4% and 6.25% per annum. It varies depending upon the deposit tenure. The deposit term can be a minimum of 7 days and a maximum of 120 months or 10 years.
The interest rates keep changing depending upon the deposit tenure. You might find it difficult to calculate the maturity amount for different tenures. An online Central Bank fixed deposit calculator can come in handy and ease your decision-making process. You will get accurate results within seconds provided you have entered the inputs properly.
How Does the Online Central Bank FD Calculator Work?
The procedure to use the Central Bank fixed deposit is extremely simple. You can find out the results in no time by following this step-wise guide:
1. Enter an investment amount on the “Total Investment” box
2. Now provide the investment tenure in the “Number of Years” box. You can also drag the cursor till you reach the desired tenure.
3. Finally, enter the interest rate and check the right side of the page
4. It will display the “Estimated Return”, and “Total Value” received against your FD investment
You can bring variations in the figures by changing the deposit amount, interest rate and tenure. This will help you to compare the interests accrued for multiple investment tenure and deposit amounts.
Fixed deposits are of two types- simple interest FDs and compound interest FDs.
In case of compound interest, the formula is:
A = P (1 + r/n) ^ n*t
In this formula, “A” signifies the FD maturity amount
“P” represents your fixed deposit principal amount
“r” indicates the Central Bank fixed deposit rate of interest p.a.
“n” denotes the frequency of compounding interest
“t” represents the deposit term or tenure
While using the Central Bank FD calculator, you need to enter the right investment amount, tenure and interest rate to calculate an accurate maturity amount.
Let’s take an example to understand the calculation procedure precisely:
So, we can assume a fixed deposit investment of ₹50,000 for 5 years at an annual interest rate of 7%.
As per the formula:
A = 50,000 (1 + 7%/1) ^ 1*5
A = ₹70,739.
So, the interest amount is (A – P), i.e., (70,739-50,000) = ₹20,739
In case of simple interest, you need to use the following formula:
M= P+ (PXRXT/100)
Here, M is the maturity amount, P is the investment amount, T is tenure of investment and R is the rate of interest.
Benefits of An Online Central Bank FD Calculator
Here are some of the remarkable benefits of an online Central Bank FD calculator:
- You can be assured of the results as there is zero chance of miscalculation, provided you have given proper inputs.
- This tool is extremely easy to use.
- The Central Bank fixed deposit interest rate varies according to the investment tenure. So, you can compare the interest accrued for different investment terms and select a suitable one that aligns with your financial goals.
- You can plan and manage your finances in a hassle-free way with this online tool.
- This tool is completely free and can be used any time anywhere. You don’t have to share any personal details or sign up on it.
Upstox Central Bank fixed deposit calculator can be an ideal tool if you are planning to invest in Central Bank FDs. It comes with a simplified user interface and all you have to do is enter your investment amount, tenure and applicable interest rate. Check the interest amount and maturity and plan your FD investment accordingly.
Frequently Asked Questions
What is the highest interest rate on Central Bank FD?
The highest rate of interest is 6.15% for a deposit amount of less than ₹2 crore. However, an amount higher than ₹2 crore and up to ₹10 crore will attract an interest rate of 6.25% on Central Bank FD. For callable FD with 555 days, the rate is 6.50%.
What is the minimum amount of investment for FDs under Central Bank?
You can start investing with as low as ₹100 with Central Bank fixed deposit and multiples of 100 thereafter.
Do we have a premature withdrawal facility on Central Bank FD?
Yes, Central Bank has a premature withdrawal facility for FDs subject to applicable penalty.
What is the penalty for early withdrawal in Central Bank FD?
Central Bank levies a 1% penalty on withdrawal of FDs for amount exceeding ₹5 lakh. There is no penalty for premature withdrawal of amount up to ₹5 lakh.
In how many years has FD doubled in the Central Bank?
If you invest in the special Cent Double Deposit Scheme, your investment amount can get doubled in around seven and a half years. You can also calculate the time using the rule of 72 where you have to divide 72 by the applicable interest rate.
Can I deposit an extra amount into an already existing FD?
No, you cannot deposit any additional amount into an already-running FD. You can instead, open a new FD account and start saving even more.
Does Central Bank provide an auto-renewal facility for fixed deposits?
Yes, Central Bank offers auto-renewal facility for fixed deposits and the FD gets auto-renewed on the maturity date.
What is the lock-in period for Tax Saving FD Scheme?
The lock-in period for tax-saving FDs is 5 years. During this period, you cannot make an early withdrawal or avail of a loan against FD facility.
Are there any special rates for senior citizens?
No, there is no special interest rate for senior citizens on Central Bank fixed deposits.
