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Recurring Deposit calculator, interest rates

Recurring Deposit Interest Rates Bank wise

Bank 1 Years 2 Years 3 Years 4 Years 5 Years 5+ Years
Andhra Bank 6.50 6.50 6.25 6.25 6.25 6.25
HDFC Bank 6.85 7.00 7.00 7.00 7.00 6.00
Post Office — — — — — 7.10
ICICI Bank 6.75 6.75 6.50 6.50 6.50 6.50
State Bank of India 6.70 6.75 6.80 6.80 6.85 6.85

Difference between RD(Recurring Deposit) and FD (Fixed Deposit)

FD Is a Lumpsum Investment for a certain period. ex: 5 Years.

RD: is a Recurring Monthly Payment(Just like EMI) for certain period ex: 5 years.

EX: You invested 1 lakh in FD as Lumpsum. here our FD Calculator

Rate of Interest (%):7.25%

Maturity Date 25-May-2024
Maturity Value: Rs. 1,43,226
Aggregate Interest Amount: Rs. 43,226

 

While Recurring deposit for (1 lakh for years)   100000/60 (months or 5 years)=1666.67

let’s assume we invested in RD, 1667 (every month for 5 years.

Interest rate:7.25%

Maturity Date 25-May-2024

Total Savings:Rs.1,20,706 (savings+interest)
Interest Earned:Rs.20,686  

RD Calculator

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