# Union Bank RD Calculator

Monthly Investment

Interest rate

%

1%

15%

Duration

Yrs

1 Yr

30 Yrs

The future value of investment will be

Invested Amount

0

Estimated Return

0

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## What Is the Union Bank RD Calculator?

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.

## How Does an Union Bank RD Calculator Work?

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:

• Enter the monthly investment amount.
• Enter the interest rate applicable to your recurring deposit.
• Enter the tenure for which you wish to continue the RD.

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.

## What is the Union Bank RD Calculator Formula?

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.

## How To Use the Online Union Bank RD Calculator?

Here’s how you can use the Union Bank RD calculator:

• Enter the monthly investment amount
• Enter the duration of the recurring deposit
• Enter the applicable rate of interest

The online Union Bank RD calculator will display the maturity value and total interest you will earn on the recurring deposit.

## Benefit of Using the Union Bank of India RD Calculator

Let's explore the advantages of using an online Union Bank RD calculator in detail:

• Accurate calculation of maturity value: The Union Bank RD calculator helps you accurately determine the maturity value of your recurring deposit. Upon entering the monthly investment amount, tenure, and interest rate, the Union Bank RD calculator computes your maturity amount instantly.
• Easy online access: The online Union Bank RD calculator is on the Angel One website and anyone can access it.
• Time-saving: Calculating the maturity value manually can be a time-consuming process. The Union Bank RD calculator simplifies this task by swiftly computing the maturity amount based on the entered values. It eliminates the need for manual calculations, thereby helping you save valuable time and effort.
• Clear visualisation: The online Union Bank RD calculator provides a clear picture of the maturity amount at the end of the tenure. It helps you understand the potential returns on your recurring deposit investment with Union Bank of India. It allows you to make informed decisions regarding your investment choices.
• Comparisons and decision-making: The online Union Bank RD calculator lets you compare the maturity amounts for different investment amounts and tenures. It enables you to make informed decisions by evaluating the potential returns and selecting the most suitable recurring deposit option.
• Reliable: The Union Bank RD calculator offers accurate results based on the interest rate you enter. It ensures that the calculations are reliable.

## Factors Influencing Union Bank RD Earnings

• Monthly Installment: The periodic monthly amount you invest in your RD directly relates to the final maturity value. The higher the installments, the higher the future value of your investments.
• Tenure: The duration you hold the RD directly affects the interest earned. Longer tenures allow for more compounding, resulting in greater returns.
• Interest Rate: Higher interest rates mean greater returns. It's important to select the right RD scheme, as interest rates can differ even for the same time period and similar investment amounts.
• Compounding Frequency: The frequency at which the interest is compounded determines the final maturity amount. More frequent compounding means a higher growth rate. Most banks compound quarterly.
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## FAQs

### What is the Union Bank RD calculator?

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.

### How to use the online Union Bank RD calculator?

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.

### Is the Union Bank RD calculator free to use?

Yes, the Union Bank RD calculator is free and can be accessed via Angel One

### What is the minimum amount required to start a bank RD?

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.

### How do you calculate the RD maturity amount?

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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