RD Calculator in SBI | RD Calculator for SBI Bank
RD Stands for Recurring Deposit. Which is one of the investment option offered by banks and financial institutions with less risk and higher returns. In SBI Bank RD Account the investors invest in small instalments rather than lump sum and its term is available from minimum of 6 months to a maximum of 10 years with monthly instalments of 6,12, 24, 36, 48, 60, 72, 84, 96, 108 and 120 months. Most banks that offer recurring deposits compound the interest on a quarterly basis.
How is Interest on RD Calculated?
RD calculator excel file enclosed for your reference which facilitates for you to easily calculate the amount of interest earned as well as the maturity amount.
Download RD calculator file here
The results of this calculator will give you a tentative idea of the maturity values else you can visit SBI bank website to find out the exact amount that you will earn. The rate of interest changes time to time.
The example used as
Monthy amount deposited - 2500,
Period - 1 year, Rate of interest - 5.10%
Find out the Maturity value ? and Interest earned ?
Video shows the complete process of calculation for better understanding
RD CALCULATOR SBI DETAILED VIDEO
SBI Bank Recurring Deposit Calculator
To find out the maturity value and interest earned fill the basic details like Monthly amount would you like to deposit, Interest rate, investment period.
Conclusion
RD is one of the best way of investment with less risk and high returns and even some banks offer that customers can deposit any amount at any point in the tenure with no requirement to make deposits every month under Flexi RD