RBI Taxable Bonds Calculator
Before we discuss the “RBI Taxable Bonds Calculator“, Let me briefly touch upon the “RBI Bonds 2022“.
- 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 coupon rate on RBI Bonds 2022 for period January 1, 2022 to June 30, 2022 and payable on July 1, 2022 remains at 7.15% (6.80%+0.35%= 7.15%), unchanged from the previous half-year.
- 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 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 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.
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.
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.
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:
Time needed: 3 minutes.
The calculator updates the result automatically when you change any input.
Enter the investment amount.
- Interest Rate
The coupon rate on RBI Bonds for the period January 1, 2022 to June 30, 2022 and payable on July 1, 2022 remains at 7.15% (6.80%+0.35%= 7.15%), unchanged from the previous half-year.
- 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).
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.