Corporation Bank – Online RD Calculator | Know Recurring Deposits (RD) Interest Rates

In our site, you will come across Corporation Bank RD Calculator. Those who have the interest to open RD Account in Corporation Bank can make use of this RD Calculator provided here. Here we have provided Corporation Bank RD Interest Rates which is essential while calculating the Maturity amount. Therefore the interested candidates can open RD Account by the below-mentioned procedure. To know more details about Corporation Bank RD Calculator i.e. how to use? Refer to the below section.

Corporation Bank RD Calculator

We are only directly providing online Corporation Bank RD Calculator. With the help of this RD Calculator, you can easily calculate your Maturity amount. Only you need to do is to enter your Monthly Investment amount, Corporation Bank RD interest Rates, Tenure Period and should select the compound frequency. Then by clicking on calculate button, you can know your maturity amount. Also, the Corporation Bank RD Calculator is available in official site.

Along with this, we are also providing Recurring Deposit Installment Calculator. You can use this Calculator to calculate your monthly wise installment amount. i.e some people may have an idea about the return amount after completion of Tenure period but may not know what amount should be paid per month. For them, it is better to use the Recurring Deposit Installment calculator so that you can easily know your Monthly installment amount. By referring below sections you can easily open RD Account in Corporation Bank. Also, know the use of both Corporation Bank RD Calculator &  Recurring Deposit Installment calculator.

Important requirements to use Corporation Bank Recurring Deposit Calculator

  1. Click the below link directly to get Online RD Calculator.
  2. Then on the next page, it opens the Corporation Bank RD Calculator.
  3. There you have to enter the details like
    • Monthly Investment amount,
    • RD interest Rates,
    • Tenure Period
    •  compound frequency
  4. After entering all the values click on Calculate button.
  5. So finally, you will know your maturity amount.

Corporation Bank Recurring Deposit Calculator

What are the requirements to use Recurring Deposit Installment Calculator

  1. Click on the link which is below.
  2. Now, in the new tab, it opens the Recurring Deposit Installment calculator.
  3. Enter all the details like
    • Maturity Amount
    • duration
    • Corporation Bank RD Interest rates, etc.
  4. After entering all the values click on Calculate button.
  5. So finally, you will know your maturity amount.

Recurring Deposit Installment Calculator

Corporation Bank RD Calculator

Corporation Bank Interest Rates

Corporation Bank RD Interest Rates
Tenure Period General Individuals Senior Citizens 
1 Year – 2 years 364 days 7.10% 7.60%
3 Years – 10 years 7.00% 7.50%

Here we have provided Corporation Bank RD interests rates. So, basing on the interest rates only you can know your maturity amount and monthly installment amount. If you want to know the RD interest rates of other banks then check here. As the interest rates of Recurring Deposit are similar to the rates of Fixed Deposit.

Also for the senior citizens, the RD Interest rate is 0.50% as it is more than the interest rate applicable for normal customers.

Penalty

If the payments are not paid correctly for the relevant month then there will be some penalty as per the rules of the bank. As different banks provide different rules. But the corporation bank will keep penalty of Rsa.1.40 per every Rs.100/- per month.

 Corporation Bank Recurring Deposit

The Recurring Deposit is a bank account which is a safe and convenient way of saving money. As RD allows you to invest fixed amount on regular intervals of time and it is similar to Fixed Deposit. The main difference between RD and FD is in Recurring Deposit will help you to make nominal monthly payments as per your budget but whereas in FD you need to invest a lump sum amount at the time you open FD Account. But investing money in RD Account will help to reach your short-term goals.

The Corporation Bank is the public sector bank company. It was founded in the year 12th march 1906. The Corporation bank is headquartered in Mangalore, India. Also, the bank has respective offices in Dubai and hong kong. It is one of the oldest banks in India. The candidates can check the

The candidates those who want to get the eligibility criteria to open RD Account can refer below sections. Along with the eligible criteria, we have also provided the Corporation Bank RD Account opening process. So, you can choose any one of the processes given below.

Click here to know about Recurring Deposit

Eligible criteria to open RD Account in Corporation Bank

 

  • Individual
  • Joint Account
  • Guardian on behalf of minor
  • HUF
  • A company
  • An Institution
  • AnAssociation
  • Proprietorship Firm
  • A trust

The customers should check the above eligible criteria to open RD Account. Only the customer who belongs to these categories only eligible to open Recurring Deposit Account in Corporation Bank.

List of Documents required to open RD Account

  • Documents for Identity Proof
    • Passport
    • Aadhaar Card
    • Driving License
    • Voter ID card
    • PAN Card
    • identityCard issued by the reputed Employer
  • List of Documents for Address Proof
    • Aadhaar Card
    • Telephone Bill
    • Bank Account Statement
    • Electricity Bill
    • Wealth Tax / Income Tax Assesment order
    • Salary Slip

These are the important documents of identity proof and Address proof that should be submitted along with the RD Account opening application form. So, check these documents once before you submit the application form.

RD Account Opening Procedure

Here we have provided both online and offline process to open RD Account in the Corporation bank. So, based on your interest you can choose any of the processes to complete the RD account opening procedure.

Opening Recurring Deposit Account in Corporation bank Online

  1. Check the below link or Visit the official website.
  2. Search for the Recurring Deposit Account Opening form.
  3. After that you will find the application from, then you need to download it.
  4. Later fill the application form without any mistakes.
  5. Then after filling the application form, you can submit it.
  6. Next, you have to pay application fee through online.
  7. The bank officers will verify your application for creating your new Recurring Deposit Account.

Opening Recurring Deposit Account – Offline procedure

  1. You can click the below link or the users can visit Corporation Bank Official Website.
  2. Search for the Corporation bank Recurring Deposit Application form.
  3. Then you have to Download the application form from the link.
  4. Later, fill the application form without any leave.
  5. After filling the application, attach the necessary documents to the form.
  6. Click on the submit button.
  7. The Bank officers will verify your documents and application form.
  8. After the verification process, they will activate your new RD Account in the corporation bank.

Check the process for opening RD Account 

Features of having RD Account in Corporation Bank

Here you can see some of the key features of having Recurring Deposit Account in the corporation bank. So, by seeing these features you can understand about the RD account.

  • The Recurring Deposit account is the best way to save a fixed amount every month for a fixed period as per your budget. So, that you can get lump sum amount along with the interest rates after completing the maturity period.
  • The RD Account will help you to make a safer deposit even small amount of money on regular basis rather than the large amount.
  • It is the safest and also very low-risk form of investments.
  • The Recurring Deposit Interest rate is higher than when compared with the other savings bank accounts.
  • The Recurring Deposit Account can open with a very small amount.

Corporation Bank Recurring Deposit Types

The Corporation bank offers two types of Recurring Deposit Schemes which we have listed below. They are

  1. Flexi Recurring Deposit
  2. Regular Recurring Deposit

Tn Flexi Recurring Deposit you can save minimum amount by every month for three years and flexibility to cancel up to ten times of the specific monthly installment.

In regular Recurring Deposit, you can choose fixed amount which is to be invested every month for a particular period. So, on Completing maturity the customer can get back the amount which he/she invested so far along with the interest rate.

Corporation Bank RD Schemes

Corporation Bank is offering many interesting schemes for Recurring Deposit. Before applying for an RD Account, everyone should know the RD Schemes and interest rates. For the Sake of people, we are providing some of the RD Schemes in the below sections. Therefore, the interested people can follow the below sections to know the schemes.

Short Term RD Rates

  • In Short Term Deposit, the interest rate is 7.40% per annum for a tenure period of 1 year.

Medium and Long Term RD Rates

  • For a tenure period of above 1 year to less than 3 years, the interest rate is 7.40% per annum.

Senior Citizens RD Rates

  • The senior citizen’s interest rate is 0.50% per annum higher than the General Depositors.
  • For a deposit of less than 1Crore, the interest rate is 7.40% per annum.
  • The interest rate is 6.75% per annum for a deposit of above 1 Crore.
Updated: March 22, 2017 — 12:32 pm

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