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RD, Recurring Deposit Calculator India

Recurring Deposit Calculator

Recurring Deposit (RD) schemes are offered by almost all banks in India. Recurring Deposit is very popular among the salaried class, specially who can afford to save only few hindered or say few thousand rupees per month. This scheme is a boon for people who do not have a large amount of savings and thus can not use the Fixed Deposit scheme of the banks. Under this scheme, the customer deposits a minimum amount (normally fixed) every month, and bank pays the interest at the pre-determined rates (which is usually the same as applicable to fixed deposits ). At the end of the period i.e. on maturity date, the customer is paid the maturity value i.e. principle deposited and the interest payable. Generally Quarterly Interest is payable on Reccuring Deposit.
  Monthly Deposit Amount  Rs Rs.  
  Time Period  
  Interest Rate(%)  
  Frequency of Compounding  
  Note :  Interest compounded quarterly
 
  Here are your results:  
   Maturity Amount    Rs.  
  Total Interest; Rs.  
  Effective yield Rs.  

What is RD, Recurring Deposit?

Recurring Deposit Scheme

Recurring Deposit

Recurring

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