Bank of Baroda RD (Recurring Deposit) Calculator
Calculate the returns on your recurring deposit investment
Goal Amount
Expected Return (P.A)
Time Period
Summary
To achieve a goal amount of ₹15,00,000 in 10 year(s), and at 5% inflation, you would need to invest ₹9,20,869 at a 10% rate of return.
Summary
To achieve a goal amount of ₹15,00,000 in 10 year(s), and at 5% inflation, you would need to invest ₹9,20,869 at a 10% rate of return.
Total Investment Breakup
Lumpsum Investment
Interest Earned
Total Investment
| Year | Investment Amount (₹) |
Wealth Gained (₹) |
Expected Amount (₹) |
|---|
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Bank of Baroda RD (Recurring Deposit) Calculator
Bank of Baroda RD (Recurring Deposit) Calculator: Calculate Maturity & Interest Instantly
Recurring Deposits (RDs) are a reliable savings option for those looking to grow their funds steadily. The Bank of Baroda RD Calculator simplifies estimating returns on recurring deposits, making financial planning seamless and efficient.
What is the Bank of Baroda RD Calculator?
The Bank of Baroda Recurring Deposit Calculator is a digital tool that helps customers calculate the maturity amount and interest earned on their recurring deposits. The BOB RD calculator provides quick and accurate results by entering a few details, such as deposit amount, tenure, and interest rate.
Formula to Calculate Recurring Deposit Maturity Amount
The Bank of Baroda RD interest calculator uses this formula:
M = P x {(1 + r/n)^(nt) – 1} / (1 – (1 + r/n)^-n)
Where:
- M = Maturity amount
- P = Monthly installment (amount deposited every month)
- r = Annual interest rate (in decimal form, e.g., 7% = 0.07)
- n = Number of compounding periods in a year (e.g., quarterly = 4, monthly = 12)
- t = Total duration of RD in years
Example Calculation with the smallcase BOB RD Calculator
Let’s calculate returns using the BOB RD calculator:
- Monthly Deposit (P): Rs. 5,000
- Tenure: 2 years (24 months)
- Annual Interest Rate: 6%
- Quarterly Interest Rate (i): 6% ÷ 4 = 1.5% = 0.015
- Total Quarters (n): 24 ÷ 3 = 8
Using the formula, the maturity amount comes to approximately Rs. 1,25,000. The Bank of Baroda Recurring Deposit Calculator simplifies this calculation, delivering results instantly.
How to Use the Bank of Baroda RD Calculator on smallcase?
An RD calculator uses a simple formula to determine the maturity amount and interest earned on a recurring deposit. By entering details like the principal amount, tenure, and interest rates, one can use the calculator to obtain key information on total deposits, interest earned and maturity amount.
smallcase’s Bank of Baroda RD Calculator has a simple and user-friendly interface. Here’s how to use in three simple steps –
Step 1: Add the amount you wish to invest in a Bank of Baroda RD.
Step 2: Adjust the slider to set your expected rate of return.
Step 3: Enter the tenure you plan to invest in the Bank of Baroda RD.
The smallcase Bank of Baroda RD Calculator will deliver accurate results within seconds!
Features of Bank of Baroda RD Calculator
The Bank of Baroda RD interest calculator offers the following features:
- Ease of Use: Simple interface for quick calculations.
- Customisable Inputs: Modify monthly deposit, tenure, and interest rate to view varying scenarios.
- Accurate Results: Estimates both the maturity amount and interest earned.
- Supports Financial Planning: Allows users to plan their savings effectively.
The BOB RD calculator is ideal for comparing the bank’s multiple savings plans.
Bank of Baroda RD Interest Rates
The Bank of Baroda RD interest rates as of November 2024 are:
| Tenure | General Public | Senior Citizens |
| 6 months | 5.6% | 6.1% |
| 1 year | 6.85% | 7.35% |
| 2 years to <3 years | 7.15% | 7.65% |
| 5 years to 10 years | 6.5% | 7.5% |
The Bank of Baroda RD interest rate may vary, so it’s best to refer to the official website for the latest details.
Benefits of Using Bank of Baroda RD Calculator
- Accuracy: Eliminates errors in manual calculations.
- Time Efficiency: Instant results with minimal inputs.
- Customisable: Adjust variables to compare different saving scenarios.
- Financial Planning Tool: Helps align savings with future financial goals.
By using the BOB RD calculator on smallcase, customers can evaluate the impact of varying Bank of Baroda RD rates on their investments.
To Wrap It Up...
The Bank of Baroda RD calculator by smallcase can be a useful tool for anyone considering recurring deposits. Whether you want to explore different Bank of Baroda RD rates or estimate returns with ease, this tool ensures accuracy and efficiency. Use the BOB RD calculator to make informed decisions and maximise your savings potential.
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Frequently Asked Questions
What is the purpose of the Bank of Baroda RD calculator?
The Bank of Baroda recurring deposit calculator helps users compute maturity amounts and interest earned based on deposits, tenure, and interest rates.
What is the minimum monthly deposit for a Bank of Baroda RD?
The minimum monthly deposit is Rs. 50 for rural/semi-urban areas and Rs. 100 for metro/urban areas.
Are loans available against RD accounts?
Yes, Bank of Baroda offers loans up to 95% of the deposit amount on RD accounts.
What is the penalty for premature withdrawal of an RD?
A penalty of 1% on the applicable or contracted Bank of Baroda RD interest rate is charged for premature withdrawals.
How does the Bank of Baroda RD interest calculator differ from manual calculations?
The smallcase BOB RD calculator provides accurate results instantly, eliminating human errors and saving time.
What are the current Bank of Baroda RD interest rates?
The Bank of Baroda RD rates range from 5.6% to 7.15% for general customers, with higher rates for senior citizens.
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