The future value of investment will be
RD (Recurring Deposits) is a popular savings scheme that allows you to save a pre-determined amount every month. You can start with a nominal amount and earn interest on your savings.
It is quintessential to know the maturity amount and returns of RD before starting one. This enables better financial planning. Calculating your returns manually can be cumbersome and prone to human error. An RD calculator is a useful tool that facilitates these calculations. The Yes Bank RD calculator on Angel One is one such RD calculator that enables you to calculate the returns on your Yes Bank RD. It considers three important variables: interest rate, recurring deposit amount, and maturity period to yield the return estimates.
The online Yes Bank RD calculator is helpful for existing Yes Bank customers and prospective RD account holders alike. If you wish to use this nifty tool, you can access it on the Angel One website.
The Angel One Yes Bank RD calculator is user-friendly and simple to use. By entering variables like monthly deposit amount, interest rate and tenure, you can instantly calculate your returns.
Once you have entered the above details, the RD calculator will display the total value of your investment upon maturity. It will also display the total amount invested and estimated returns along with the graphical representation of investment and returns.
The Yes Bank RD calculator on Angel One uses the Yes Bank RD calculator formula below:
M = R[(1+i)^n-1]/(1-(1+i)^(-1/3) )
M is the maturity value,
R is the monthly deposit amount,
i is the rate of interest/400
n is the number of quarters
You must follow the following three steps to use the Yes Bank RD calculator to calculate your RD returns accurately:
- Enter the monthly deposit amount you want to invest in the RD
- Enter the applicable interest rate on the slider
- Enter the duration for which you wish to invest in RD
The online Yes Bank RD calculator will display the maturity value and total interest you can earn on the recurring deposit.
Below is an example to illustrate this:
Suppose you opened an RD account with Yes Bank and you want to invest Rs. 5,500 monthly for 3 years. Assume the applicable rate of interest to be 6.75% per annum.
Then, your estimated return shall be Rs. 22,065 while the future value of the investment shall be Rs. 2,20,065.
Let's explore the advantages of using the online Yes Bank RD calculator in detail:
- Easy to use: The Yes Bank RD calculator can be accessed from the comfort of your home or anywhere with an internet connection. It provides a user-friendly interface that makes calculating RD maturity amount and interest earnings easy.
- Accurate results: Using the Angel One online Yes Bank RD calculator, you can obtain error-free estimates of your RD maturity and interest amounts. It eliminates the possibility of manual calculation errors and ensures that the results obtained are reliable.
- Time-saving: With the online Yes Bank RD calculator, you can quickly and efficiently calculate your RD maturity amount without requiring manual calculations or visiting the branch. This can help to save considerable time.
- Financial planning tool: The Yes Bank RD calculator can aid financial planning by allowing you to gain insights into your RDs’ potential maturity amount and interest earnings.
- Meaningful Comparisons: Using the online Yes Bank RD calculator, you can experiment with different deposit amounts, interest rates, and maturity periods to find the best combination that suits your financial goals.