UCO Bank RD Calculator

UCO Bank RD Calculator

The UCO Bank RD Calculator is a useful tool for estimating the maturity amount and interest earned on your Recurring Deposit (RD) account. By entering details like monthly deposit amount, tenure, and interest rate, you can quickly calculate the returns on your RD investment with UCO Bank.

How the UCO Bank RD Calculator Works

Recurring Deposits allow individuals to save regularly and earn interest on their deposits over a fixed tenure. The UCO Bank RD Calculator simplifies the calculation by applying the standard RD interest formula and compounding frequency.

Key Inputs Required

• Monthly Deposit: The fixed amount you invest every month.
• RD Tenure: The duration of the deposit is usually between 6 months and 10 years.
• Interest Rate: Applicable UCO Bank RD rate, based on the latest data (varies by tenure).
• Compounding Frequency: UCO Bank compounds RD interest quarterly.

Formula Used

M = P × [(1 + r/n)^nt – 1] / [1 – (1 + r/n)^–1/3]

• M: Maturity amount
• P: Monthly deposit
• r: Annual interest rate (in decimal)
• n: Compounding frequency (4 for quarterly)
• t: Tenure in years

The calculator factors in the quarterly compounding to provide an accurate estimate.

Benefits of Using the UCO Bank RD Calculator

• Instant Results: Get maturity value and interest earned in seconds.
• Helps with Planning: Estimate returns before opening an RD.
• Adjustable Inputs: Modify deposit amount, tenure, or rate to compare outcomes.
• Free and Easy to Use: Accessible on any device with no registration required.

UCO Bank RD Interest Rates (Q1 FY 2024–25)

Rates are effective as of Q1 FY 2024–25 and are subject to change.

Disclaimer : The results given by the above calculator are for illustration purpose only. They are often based on a number of assumptions. The results given are in no way any guarantee of the returns that will be given. Investments in stock markets and securities markets are subject to market risks and other risks. There is no guarantee of the return that will be actually given. Investment in other financial products may also be subject to market risks and other risks. There is no guarantee of the returns that will be given by them. The calculator also does not make any recommendation directly or indirectly. Please consult a registered Financial Advisor before taking any investment decision.