Corporation Bank FD Calculator

Total Investment


Number of years

1 yr
25 yrs

Interest Rate

1 %

Domestic Term Deposits less than Rs.2 Cr - General Public

Period Interest Rate for Less than Rs.2 Cr
7 – 14 Days 3.00%
15 – 30 Days 3.00%
31 – 45 Days 3.00%
46 – 90 Days 3.75%
91 – 120 Days 4.25%
121 to 180 Days 4.30%
181 Days to less than 1 Year 4.50%
1 Year 5.25%
Less than 1 Year to 2 Years 5.30%
Less than 2 Year to 3 Years 5.50%
Less than 1 Year to 3 Years
Less than 3 Years to 5 Years 5.55%
Less than 5 Years to 10 Years 5.60%

Corporation Bank NRE Fixed Deposit Rates

Maturity Period Interest Rate for Less than Rs.2 Cr
1 year 5.25%
Less than 1 Year to 2 Years 5.30%
Less than 2 Year to 3 Years 5.50%
Less than 1 Year to 3Years
Less than 3 Years to 5 years 5.55%
Less than 5 Years to 10 Years 5.60%

Corporation Bank FCNR Fixed Deposit Rates

Period USD < 300,000 USD ≥ 300,000 GBP EUR JPY CAD AUD
1 year to 2 years 0.85 0.85 0.6 0.01 0.01 0.58 0.19
2 years <3 years 0.84 0.94 0.79 0.01 0.07 0.89 0.35
3 years <4 years 1.12 1.22 0.93 0.01 0.1 1.14 0.58
4 years <5 years 1.29 1.39 1.04 0.02 0.08 1.36 0.77
5 years 1.4 1.5 1.11 0.08 0.09 1.56 0.96

Corporation Bank Fixed Deposit

Corporation Bank fixed deposits come with highly attractive interest rates, flexible investment tenures and multiple features. As per Central Government decision, Corporation Bank was merged with Union Bank of India in April 2020. So, all FD schemes with Corporation Bank have now been shifted to Union Bank.

As a fixed deposit investor, it would be beneficial if you assess the FD returns beforehand. It will give you a clear idea of how much your fixed deposit will grow in a certain period. In this regard, you can use an online Corporation Bank FD calculator.

Let’s find out more.

Corporation Bank Fixed Deposit (FD) Calculator

After the merger, Union Bank fixed deposit rates act as Corporation Bank fixed deposit rates. The FD rates for general citizens range between 3.00% and 7.30%. For senior citizens, there is an additional 0.50% rate. These interest rates are only for the deposit amount of less than ₹2 crore. The interest is credited on a quarterly basis.

For tax-savings schemes, the rate of interest is 6.70% p.a. for general citizens. If you choose a higher tenure, the rate of interest would be subsequently higher. Considering the varying FD interest rates, it might be quite hectic and tedious to calculate the FD returns manually using formulas. Moreover, it can lead to errors. This is where an online Corporation Bank FD calculator comes in.

It is a completely automated tool that estimates the maturity and accrued interest amount within seconds. You will need to enter a few specific FD investment-related details such as investment tenure, deposit amount and Corporation Bank fixed deposit interest rate. This tool will do the rest.

How does the Corporation Bank FD Calculator Work?

Online FD calculators are designed with your user experience in mind. You can determine the FD returns in a hassle-free manner. Here are some of the easy steps with which you can assess interest return for Corporation Bank fixed deposit:

1. Enter the preferred investment amount in the “Total investment” box.
2. Next, you need to enter the investment tenure. You have two options. You can either enter the figure manually in “Number of years” box or drag the cursor and draw a purple line till the preferred investment tenure is reached.
3. Finally, provide the Corporation Bank fixed deposit rates.
4. The calculator will instantly show the maturity amount and accumulated interest on the right-hand side.

You can also alter the figures to compare the returns from different FD schemes with varying interest rates and tenure.

Depending on the type of FD you invest in, the calculation of accrued interest will vary. There are two types of FDs: simple and compound interest FD.

Simple interest calculation is usually applied for FDs that lesser than 1 year. The formula used to calculate simple interest is:

M= P + (PXRXT)/ 100

In this formula

M is the maturity amount

P is the FD investment amount

R rate is of interest

T is the FD investment tenure

For compound interest calculation, the formula used is as follows:

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

Here M is the maturity amount that you will receive on FD maturity

P is the amount you’d invest in the FD

r is the Corporation Bank fixed deposit rate

t is tenure of investment

n is the number of times the interest is compounded. In case of quarterly

Let’s take an example to have a clear understanding.

If you are investing ₹10,000 for an investment tenure of 5 years at an interest rate of 7% in an FD scheme which is compounded annually. The fixed deposit interest that you will receive:

P = ₹10,000

r = 7%

t = 5


So, A = 10,000 (1 + 7%/1) ^ 1×5

A = ₹14,148.

The interest earned is A – P which is (14,148-10,000) = ₹4,148

If you try to manually compute the FD interest return it might take up considerable time. Also, there can be chances of error. Instead of manual calculations, you can use the digital FD calculator tool.

Benefits of Online Corporation Bank FD Calculator

Using an online FD calculator instead of manual calculation to assess FD returns can be highly convenient given the following advantages that this tool has to offer:

Before you invest in Corporation Bank fixed deposit, make sure to use the Upstox Corporation Bank FD calculator to assess the FD returns. This tool comes with an easy user interface and you can use it for free. Check the returns, choose the suitable FD scheme and tenure and start investing.

Frequently Asked Questions

What is the maximum and minimum deposit amount in Corporation Bank FD?

The minimum deposit amount is ₹1,000 for Corporation Bank FD. However, there is no maximum limit on the amount that you can invest.

What is the maximum and minimum FD tenure in Corporation Bank FD?

You can invest in Corporation Bank fixed deposit for a tenure that ranges between 7 days to 10 years.

Are there any special rates for senior citizens?

Yes, Corporation Bank offers an additional 0.50% rate on the general citizen rates for senior citizens. For super senior citizens, it is an additional 0.75%. This is applicable for fixed deposits of less than ₹2 crore.

In how many years will Corporation Bank FD double?

To find out how many years it would require Corporation Bank FD to become double, you can use the rule of 72. Here, you need to divide 72 by the applicable rate of interest. For instance, the FD rate is 7%, so it will need (72/7) or around 10.2 years for the FD to become double.

Do we have a premature withdrawal facility on Corporation Bank FD?

Yes, there is a premature withdrawal facility for fixed deposits in Corporation Bank. In case of tax-saving FDs, this feature is available only in case the primary account holder dies.

Can a customer open a term deposit online in Corporation Bank?

Those having internet banking can choose to open a term deposit account online.

What is the lock-in period for Corporation Bank tax-saver FD?

The lock-in period for tax-saver FD at Corporation Bank is 5 years. You cannot make an early withdrawal before this period. Early withdrawal for tax-saving FD is only applicable in case the primary account holder passes away.

This calculator is meant to be used for indicative purposes only. It is designed to assist you in determining the appropriate amount of prospective investments. This calculator alone is not sufficient and shouldn’t be used for the development or implementation of any investment strategy. Upstox does not take the responsibility/liability nor does it undertake the authenticity of the figures calculated therein. Upstox makes no warranty about the accuracy of the calculators/reckoners. The examples do not claim to represent the performance of any security or investments. In view of the individual nature of tax consequences, each investor is advised to consult his/her own professional tax advisor before making any investment decisions on the basis of the results provided through the use of this calculator.