Bank of Baroda Recurring Deposit (RD) Calculator is for calculating the maturity amount of Recurring Deposit saving invested in Bank of Baroda for a specified period.
Recurring Deposits are a special kind of Term Deposit offered by Bank of Baroda which helps people with regular incomes to deposit a fixed amount every month into their Recurring Deposit account and earn interest at the rate applicable to Fixed Deposits.
This RD calculator requires some data like – Your Monthly Deposit Amount, Rate of Interest of your bank, Period (in No. of Months), interest Compounding Frequency. After calculation, you will get the Maturity Amount after the maturity period and Effective yield in %.
Latest Bank of Baroda RD Interest Rate:
| Bank Name | Tenors | Rates For Public | Rates for Senior Citizens | As on Date |
|---|---|---|---|---|
| Bank of Baroda | 180 days | 5.6 | 6.1 | 2024-09-09 |
| Bank of Baroda | 181 - 210 days | 5.75 | 6.25 | 2024-09-09 |
| Bank of Baroda | 211 - 270 days | 6.25 | 6.75 | 2024-09-09 |
| Bank of Baroda | 271 days - <1 year | 6.5 | 7 | 2024-09-09 |
| Bank of Baroda | 1 year | 6.85 | 7.35 | 2024-09-09 |
| Bank of Baroda | 1 year - <400 days | 7 | 7.5 | 2024-09-09 |
| Bank of Baroda | 400 days - <2 Years | 7 | 7.5 | 2024-09-09 |
| Bank of Baroda | 2 Years - <3 Years | 7.15 | 7.65 | 2024-09-09 |
| Bank of Baroda | 3 Years - <5 Years | 6.50 | 7.15 | 2024-09-09 |
| Bank of Baroda | 5 Years - <10 Years | 6.50 | 7.50 | 2024-09-09 |
Bank of Baroda RD Calculator Variables:
This recurring deposit (RD) calculator for Bank of Baroda RD uses five different investment variables that most of the calculator requires. These saving calculator variables are:
Monthly Deposit Amount: This is a fixed monthly amount that is invested in an RD scheme. This deposit amount varies from person to person and scheme to scheme.
Rate of Interest: The Rate of Interest is the variable of the RD calculator that appears as a percentage and is different for different types of saving options.
Period of Investment: The length of the investment or period for the investment in months is another factor that plays a major role in the RD calculator. The longer investment increases the compounding of the returns and hence greater rewards are generated.
Maturity Amount: The desired or required amount that an investor wants at the end of the investment life cycle is known as the final amount or maturity amount.
Effective yield: The effective yield is that variable of the RD calculator that appears as a percentage and is used to compare the effectiveness of different types of saving options. This saving variable matters the most to the investors.
How Bank of Baroda RD Calculator Works?
Anyone can calculate his saving returns from the Bank of Baroda account through an online RD calculator available on this page with high accuracy.
Following are the steps to calculate the RD returns through this calculator:
- Step 1: Enter the fixed monthly amount that he wants to deposit every month.
- Step 2: After this, fill the rate of interest that he gets from his bank or financial institution for the specified period. Different banks or financial institutions offer different rates of interest-based on the amount of investment and period of investment.
- Step 3: The next step that one has to follow is to select the period for saving in months. It depends on saving option requirement for which he wants to stay invested.
- Step 4: Thereafter choose the frequency of compounding. The frequency of compounding may be monthly, quarterly, half-yearly, or yearly.
- Step 5: After submitting all variables required by an RD calculator, one will get the final maturity amount for investment query with effective yield.
Bank of Baroda Recurring Deposit (RD)
A Bank of Baroda Recurring Deposit (RD) account offers a monthly investment option with a handsome return at the end of specified years with an option to extend the accounting period. It gives you a higher rate of interest than a savings bank account.
Recurring Deposits are a special kind of Term Deposits offered by banks in India which help people with regular incomes to deposit a fixed amount every month into their Recurring Deposit account and earn interest at the rate applicable to Fixed Deposits.
It is similar to making FDs of a certain amount in monthly installments. Thus, Recurring Deposit schemes allow customers with an opportunity to build up their savings through regular monthly deposits of fixed sum over a fixed period of time.
Click Here for Bank of Baroda Saving Account Calculator
Click Here for Bank of Baroda FD Calculator
Features of Bank of Baroda RD Schemes:
- All individuals are eligible to open recurring deposit accounts at Bank of Baroda. The minimum monthly deposit on RD accounts is Rs.50 and multiples of Rs.50 in rural and semi-urban branches. In urban and metro branches, Rs.100 and multiples of Rs.100 are the lower limits on recurring deposit accounts. There is no upper limit on the monthly deposits in RD accounts.
- The tenure or time period of recurring deposit accounts range from 6 months to 120 months, which is determined at the time of opening the RD account. However, you can opt for premature withdrawal on your recurring deposit account, in case you need funds urgently. Closing your recurring deposit early may be subject to a penalty.
- Bank of Baroda offers attractive interest rates on recurring deposits, which are determined on the basis of the maturity period or tenure of the deposit. The interest on recurring deposit accounts is compounded quarterly and paid on maturity of the RD.
- Nomination facility is available on recurring deposit accounts at Bank of Baroda.
- Additionally, Bank of Baroda offers loan and overdraft facility up to 95% of the recurring deposit amount, which can help you in times of an urgent financial need.
-
Latest Bank of Baroda RD Interest Rate: Click Here
Eligibility for Bank of Baroda Recurring Deposit (RD):
Below are the individuals and groups eligible for a Regular Recurring Deposit:
- Residents
- Hindu undivided families
- Sole proprietorship firms
- Partnership firms
- Limited companies
- Trust accounts
You are here to calculate the maturity value of your money in Bank of Baroda’s Recurring Deposit (RD) account. Calculate the maturity value with this online Bank of Baroda RD calculator.
(Calculate your Bank of Baroda Recurring Deposit (RD) maturity amount by using this Bank of Baroda RD Calculator)
