Enter the monthly deposit amount the investors wish to invest.Investors need to follow the following steps to use the RD maturity calculator. Thus, by utilizing the RD calculator, an investor can plan his/her finances with clarity as they will know the exact maturity value from the investment in RD.
Investors can save much time using it for calculating maturity amounts from RDs and can also use this to compare multiple RDs. Using it is very easy, and the results are very accurate.
Using a Recurring Deposit calculator can make your calculations effortless. How to Use the RD Interest Rate Calculator? In this, the investor can invest a flexible sum of money in each interval depending on his/her convenience. Most banks also offer a flexi recurring deposit account. Following are the Financial Quarters for Recurring Deposit:Īny individual, HUF, corporate, company, NRI, government organization, minor above age of 10, and minor below age of 10 under a legal guardian can open an RD account. The interest of recurring deposits is compounded quarterly. Most banks offer an additional rate of 0.25%-0.75% for senior citizens. The interest rate for senior citizens RD accounts is slightly higher than the regular accounts. In Indian banks, the interest rate lies in the range of 3.5-7.5% for different time periods. The interest rate on RD varies from bank to bank, as with any other saving account. It doesn’t change, unlike some investment products, making it an attractive savings scheme. Determining the amount one can earn through investing in an RD is easy as the interest rate remains the same throughout the tenure of the RD.
Once the RD deposit matures, the lump sum and interest are paid back. With an RD saving account, people can save a small amount regularly with monthly deposits for a predetermined period and earn interest on those deposits. Recurring Deposits (RD) are a savings option that helps you to save for the future. Which are the right funds to help you achieve your goal?
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