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The Union Bank RD calculator is a financial tool available on Angel One that allows users to calculate the returns on their recurring deposits with Union Bank of India. If you also wish to calculate the maturity amount and total interest on your RD investment, simply input the applicable interest rate, monthly RD amount, and RD tenure - the tool will compute it for you. You can try varying combinations of monthly deposit amounts and RD tenures to choose the duration and instalment that works best for you. Thus, the online Union Bank RD Calculator facilitates investment planning and informed decision-making.
The Angel One RD calculator helps you calculate the maturity amount and the interest you will earn on your recurring deposit. The calculator uses formulae based on inputs such as the principal amount, interest rate, and tenure to determine the final amount. It simplifies the process and provides accurate results. Follow the steps below to calculate the maturity amount and interest using the Angel One RD calculator:
Once you have entered the above details, the online RD calculator will display the total value of your investment upon maturity, along with the expected interest amount.
The maturity value of a recurring deposit can be calculated using the Union Bank RD calculator formula below:
M = R[(1+i)^n-1]/(1-(1+i)^(-1/3))
Where,
M is the maturity value,
R is the monthly deposit amount,
i is the rate of interest/400
n is the number of quarters
Suppose, You start a regular RD account with the Union Bank and wish to invest Rs. 5,500 monthly for five years, and the applicable interest rate is 7.50% per annum.
The total value of your recurring deposit upon maturity will be Rs. 4,00,893. You would have invested a total of Rs. 3,30,000 for five years. The estimated returns will amount to Rs. 70,893.
Here’s how you can use the Union Bank RD calculator:
The online Union Bank RD calculator will display the maturity value and total interest you will earn on the recurring deposit.
Let's explore the advantages of using an online Union Bank RD calculator in detail:
The Union Bank RD calculator is a tool that helps you determine the maturity amount you will receive at the end of your recurring deposit tenure. It allows you to calculate the interest you will earn and the total maturity value based on the RD's principal amount, interest rate, and tenure.
Access the online Union Bank RD calculator from the Angel One website. Then enter the monthly investment amount, tenure, and interest rate. The Union Bank RD calculator will display the maturity amount and interest.
Yes, the Union Bank RD calculator is free and can be accessed via Angel One
The minimum amount required to start a bank RD may vary depending on the bank's policies. However, it is common for many banks, including Union Bank, to have a minimum deposit requirement for RD accounts.
You can use the formula Maturity Amount = R[(1+i)^n-1]/(1-(1+i)^(-1/3)) to calculate the maturity value of your recurring deposit. Here, P is the monthly instalment, R is the annual interest rate, and n is the number of quarters.
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