Recurring Deposit Calculator is an online tool for any investor or company to calculate the return on the investment made in monthly installment. This Recurring Deposit Calculator specially programmed to computes the values of total interest and help you to comparing different interest rates which are provided by the different Banks on the Deposit Plans
Recurring Deposit is a sum of money that is invested into a bank account in regular time interval for specific period of time. Once the tenure is over the Bank pays in return the total sum of money along with the interest. The key components of recurring deposits are Monthly Deposit Amount, Interest Rate, Time Period, Compound Period, Total Returns and Effective Yield. Monthly deposit amount is the sum of money an investor deposits in his account each month for a specific period of time. Interest Rate is the rate on which the money is being invested in regular period of time. Time period represents the total number of months or years of your tenure of investments. Compound period represents How frequently the deposits should be compounded. Total returns indicates that How much returns you get on your series of investments and Effective Yield rate is a rate which represents an annual rate of return associated with the periodic interest rate. When it comes to online calculation, this Recurring Deposit Calculator not only assists you to determine how much return you will get on your investments for a specific period of time and also assist you calculate Effective Yield Rate or the actual return on the deposits. Recurring Deposit Calculator is a useful tool to compare different deals and select the best deal available in the finance market