RBI Taxable Bonds Calculator
Before we discuss the “RBI Taxable Bonds Calculator“, Let me briefly touch upon the “RBI Bonds“.
- RBI Bonds come with a minimum investment of INR 1,000/- and there is no limit prescribed on the amount of money you can invest.
- The Interest rate on RBI Bonds 2023 for the period January 1, 2023, to June 30, 2023, and payable on July 1, 2023, has been reset at 7.35% (7%+0.35%= 7.35%).
- The tenure of these bonds is 7 years.
- The interest on the floating bonds is payable semi-annually on 1st Jan and 1st July every year.
- The Interest rate for the next half-year will be reset every 6 months, the first reset being on 01-Jan-2021.
- There is no option to pay interest on a cumulative basis.
- Interest on the Bonds will be taxable under the IT Act, 1961 as applicable according to the relevant tax status of the subscriber.
Also Read SBI Capital Gain Bonds | 54EC Bonds | Features | Interest Rate | How to Buy SBI Online?
We have designed excel based calculator that will help in calculating the returns over a period of time and offers the following benefits:
- Works offline.
- Easily savable.
- Allows change the maturity period for Senior Citizens
- Shows the total return value along with interest earned.
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How to Use the RBI Bonds Calculator?
In order to use the Bonds Calculator, simply enter your investment details into the user-input fields.
The details required are the investment amount, the interest rate, the number of years, and a number of intervals (semiannually).
Once you have entered these details, the summary table at the top-right of the spreadsheet will automatically display a summary of the amount details.
Also Read Sovereign Gold Bond Calculator: Return Calculation
Formula to Calculate RBI Bonds in Excel
investment amount * (1 + Interest rate / Compounding periods per year) ^ (Years * Compounding periods per year).
When adjusted for the interest calculator shown in the screenshot above, the formula takes the following shape:
=B2(1+B3/B5)^(B4B5)
Time needed: 3 minutes
The calculator updates the result automatically when you change any input.
- Amount
Enter the investment amount.
- Interest Rate
The Interest rate on RBI Bonds 2023 for the period January 1, 2023, to June 30, 2023, and payable on July 1, 2023, has been reset at 7.35% (7%+0.35%= 7.35%).
- Maturity period
7 years from the date of issuance.
- Senior Citizens – Maturity period
Special privilege has been given to senior citizens in this bond,
They may take a premature exit after 4, 5, and 6 years based on age group.
Age Group – Premature Redemption
80 years and above – 4 Year
Between 70 to 80 years – 5 Year
60 to 70 years – 6 Year - Compound Interest Rate
The interest rate of 7.15% (compounded/payable half-yearly).
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Important Notes
When you download Excel spreadsheets from the website, they download in PROTECTED VIEW.
You need to click on [Enable Editing] in the yellow banner at the top of the spreadsheet to change variable amounts.
Versions – Excel 2003 and later.
Also Read RBI IINSS-C Bonds Inflation Indexed National Savings Securities-Cumulative