Oriental Bank of Commerce Bank FD Calculator
Oriental Bank of Commerce (OBC) Term Deposit rates: Below Rs.2 Crore - General Public
| Tenure | Regular FD Rates (p.a.) |
| 7 days to 14 days | 3.00% |
| 15 days to 29 days | 3.00% |
| 30 days to 45 days | 3.00% |
| 46 days to 90 days | 3.25% |
| 91 days to 179 days | 4.00% |
| 180 days to 270 days | 4.40% |
| 271 days to less than a year | 4.50% |
| 1 year | 5.20% |
| Above 1 year and up to 2 years | 5.20% |
| Above 2 years and up to 3 years | 5.20% |
| Above 3 years and up to 5 years | 5.30% |
| Above 5 years and up to 10 years | 5.30% |
Note: The FD interest rates are effective as of 1 Jan 2021
Oriental Bank of Commerce (OBC) Term Deposit rates: Below Rs.2 Crore - Senior Citizens
| Tenure | Senior Citizen FD Rates (p.a.) |
| 7 days to 14 days | 3.50% |
| 15 days to 29 days | 3.50% |
| 30 days to 45 days | 3.50% |
| 46 days to 90 days | 3.75% |
| 91 days to 179 days | 4.50% |
| 180 days to 270 days | 4.90% |
| 271 days to less than a year | 5.00% |
| 1 year | 5.70% |
| Above 1 year and up to 2 years | 5.70% |
| Above 2 years and up to 3 years | 5.70% |
| Above 3 years and up to 5 years | 5.80% |
| Above 5 years and up to 10 years | 5.80% |
Note: The FD interest rates are effective as of 1 Jan 2021
OBC Fixed Deposit interest rates: Above Rs. 2 Crore - General Public
| Tenure | Regular FD Rates (p.a.) |
| 7 days to 14 days | 3.00% |
| 15 days to 29 days | 3.00% |
| 30 days to 45 days | 3.00% |
| 46 days to 90 days | 3.00% |
| 91 days to 179 days | 3.00% |
| 180 days to 270 days | 3.10% |
| 271 days to less than a year | 3.10% |
| 1 year | 3.25% |
| Above 1 year and up to 2 years | 3.25% |
| Above 2 years and up to 3 years | 3.00% |
| Above 3 years and up to 5 years | 3.00% |
| Above 5 years and up to 10 years | 3.00% |
Note: The FD interest rates are effective as of 1 Nov 2020
OBC Fixed Deposit interest rates: Above Rs. 2 Crore - Senior Citizen
| Tenure | Senior Citizen FD Rates (p.a.) |
| 7 days to 14 days | N/A |
| 15 days to 29 days | N/A |
| 30 days to 45 days | N/A |
| 46 days to 90 days | N/A |
| 91 days to 179 days | N/A |
| 180 days to 270 days | N/A |
| 271 days to less than a year | N/A |
| 1 year | N/A |
| Above 1 year and up to 2 years | N/A |
| Above 2 years and up to 3 years | N/A |
| Above 3 years and up to 5 years | N/A |
| Above 5 years and up to 10 years | N/A |
Note: The FD interest rates are effective as of 1 Nov 2020
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Oriental Bank of Commerce FD Calculator
Fixed deposits are an excellent way of multiplying your savings. It is preferred by most Indian investors as these offer higher rates of interest than a general savings account and guaranteed returns in form of interest.
Oriental Bank of Commerce merged with the Punjab National Bank (PNB) on 4th March 2020. This merge has been effective since 1st April 2020. Hence, all Oriental Bank of Commerce fixed deposits are now shifted to Punjab National Bank. All PNB FD rates are now applicable to Oriental Bank of Commerce FDs.
To learn about hassle-free and fast FD interest calculation look below.
Oriental Bank of Commerce Fixed Deposit (FD) Calculator
Oriental Bank of Commerce fixed deposit interest rates range from 3.50% and 7.25% for the general public. For senior citizens, the rate of interest ranges from 4% to 7.75%. Oriental Bank of Commerce also has a different rate slab for super senior citizens which falls between 4.30% and 8.05%.
The interest rates keep changing depending upon various factors such as age, deposit term, and deposit amount. Hence, it can be troublesome to estimate the FD returns through manual calculations. You can instead use the online FD calculator for faster and more precise interest calculations.
You simply need to input some investment-related details like tenure, interest rate, etc. The tool will do the rest in a hassle-free way.
How does the Oriental Bank of Commerce FD Calculator Work?
Fixed deposits are of two types based on the interest accrued: simple and compound interest FD.
For compound interest, you can use the following formula:
A = P (1 + r/n) ^ n*t
In this formula, “A” signifies the FD maturity amount
“P” denotes your fixed deposit investment amount
“r” suggests the annual Oriental Bank of Commerce fixed deposit interest rate
“n” stands for the frequency of compounding interest
“t” denotes the investment term or tenure
Let’s understand how the formula works in a more precise way with the help of this example:
Let’s assume you have booked a fixed deposit of ₹80,000 for 8 years at an annual interest rate of 8%.
As per the formula:
A = 80,000 (1 + 8%/1) ^ 1×8
A = ₹3,32,891
You can find out how much return or interest you have earned by subtracting the principal amount from the total return amount. Hence, (A – P), i.e., ₹3,32,891-₹80,000 = ₹2,52,891
In case of simple interest, you need to use the following formula:
M= P+ (PXRXT/100)
M denotes maturity amount, P represents investment amount, T is tenure of investment and R is rate of interest.
You can alternatively use an online Oriental Bank of Commerce fixed deposit calculator. It is a simple tool and you can easily use it by following the given steps:
1. Enter an investment amount on the “Total Investment” box
2. Drag the cursor to draw a purple line until reaching the desired tenure, or enter the number of years in the box provided
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 change the figures to compare returns from various FD schemes and choose the one most suitable for your needs.
Benefits of an Online Oriental Bank of Commerce FD Calculator
The Oriental Bank of Commerce FD calculator is an excellent tool that offers the following remarkable benefits to its users:
- Free to use: This tool is free to use and you can use it as many times as you want. You don’t need to provide any personal details to sign up or register.
- Easy and fast: The process involves no complicated mechanism. One can use this tool easily by following simple steps.
- Zero error: There is absolutely no chance of error if you put the correct figures. This is because the tool uses machine algorithms and is totally automated.
- Hassle-free planning: You can easily alter the figures in the different fields. This will allow you to compare returns from different FDs so that you can make an informed decision.
You can plan your investments and manage your finances in a better way with the online Upstox FD calculator. This tool is easy to use and has a user-friendly interface for a better user experience. Check the maturity, choose an FD scheme and get started!
Frequently Asked Questions
What is the highest interest rate on Oriental Bank of Commerce FD?
The highest rates of interest on the Oriental Bank of Commerce FD are 7.25%, 7.75%, and 8.05% for general, senior citizens, and super senior citizens respectively. This is applicable for deposits less than ₹2 crore.
What is the minimum amount of investment for FDs under the Oriental Bank of Commerce?
You can start saving in the Oriental Bank of Commerce FD with just ₹1000.
Do we have a premature withdrawal facility on Oriental Bank of Commerce FD?
Yes, Oriental Bank of Commerce offers premature withdrawal of all types of FDs, except tax-saver ones.
In how many years has FD doubled in the Oriental Bank of Commerce?
You can find out how much it will take for FD to double by using the simple Rule of 72. You just need to divide 72 by the applicable interest rate. For instance, if your FD attracts an 8% annual interest, it will take (72/8) 9 years for your FD to double.
Can I deposit an extra amount into an already existing FD?
No, you cannot deposit any extra amount into an already existing FD. You can instead start saving by booking another FD.
Does Oriental Bank of Commerce provide an auto-renewal facility for fixed deposits?
Yes, depositors can choose the auto-renewal facility available for fixed deposits.
Are there any special rates for senior citizens?
Yes, Oriental Bank of Commerce offers preferential rates for senior and super senior citizens.
What is the lock-in period for tax saving FD scheme?
Tax-saving FDs have a lock-in period of 5 years. You cannot make a premature withdrawal or avail of a loan against FD during this period.
Disclaimer:
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.