recurring deposit calculation ?

by admin on December 10, 2010

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If I am start RD deposit Indian bank every month Rs. 5000/- upto 10 years. After Maturity total amount how much ?.

How is the calculation ?



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{ 3 Answers… read them below or add one }

sri December 9, 2010 at 10:36 pm

The RD is a monthly product.
you have to pay on monthly basis as a regular investment
on maturity you will get the maturity. Normally the interest will be calculated on quarterly basis.
the maturity amount will be
n*(n+1)/2*principal* rate of int./12
instead you can go for the VAriable RD where you can variate the monthly installments andyou can pay any number of times also.
there is no penal interest if not paid during its currency. since indian bank is the first CBs bank among nationalised bank you can operate from any where. and you can save according to money available with you and not as fixed installment.

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♥ Kalra®™ December 9, 2010 at 10:36 pm
HMT December 9, 2010 at 10:36 pm

If you deposit the amount Rs 5000 , monthly, at 9% interest rate per annum , then after 120 months
your amount will be Rs 9,74,828/-

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