Union Bank RD Calculator

Union Bank RD Calculator

The Union Bank RD Calculator helps you estimate the maturity amount and Interest earned on your recurring deposit. By entering key details like monthly deposit, Tenure, and applicable interest rate, you can quickly forecast your returns without manual calculations.

How the Union Bank RD Calculator Works

A recurring deposit (RD) allows you to invest a fixed amount every month and earn Interest at a predetermined rate. The calculator uses the compound interest formula (compounded quarterly) to compute the total maturity amount.

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

Union Bank typically compounds RD interest quarterly, making this formula a reliable predictor of your returns.

Inputs Required

• Monthly Investment Amount: The fixed sum deposited every month (e.g., ₹1,000)
• Tenure: Duration of the RD (in months)
• Interest Rate: Current Union Bank RD interest rate (ranging from 5.75% to 7.00% p.a. in Q1 FY 2024–25, depending on tenure and age)

Outputs Displayed

• Total Investment: Sum of all monthly deposits
• Total Interest Earned: The income generated over the period
• Maturity Amount: Total value receivable at the end of the RD term

Key Features and Benefits

• Eliminates manual interest calculations
• Helps plan financial goals by estimating maturity value
• Allows quick comparison across tenures and deposit sizes
• Supports better decision-making for short-term and long-term investments

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

(Note: These rates are indicative and 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.