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Interest rate on recurring deposit in Indian overseas bank?
interest rate of recurring deposit in iob
Is fixed deposit and recurring deposit rate of interest is same?
No. In most cases the rate of interest offered on fixed deposits and recurring deposits is different. Usually the rate of interest on a fixed deposit is much higher than a recurring deposit because you will be depositing the entire amount in one shot and leave it with the bank for the duration whereas in a recurring deposit you'll pay only the part of the money at a time. So the difference.
How do you calculate how much interest rate should be given for 6 month saving deposit?
I calculate the interest rate should be given for 4 month saving deposit
How do you calculate interest rate for fixed deposit for a month?
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Which is better recurring deposit or fixed deposit?
Actually both of them have their own benefits and drawbacks. In terms of rate of interest an fixed deposit will give you more interest than a recurring deposit. In terms of ease of operation and opening a recurring deposit is easier because it will need much less contribution and on a regular basis whereas you need to deposit in lumpsum in case of a FD.
Which bank provides the highest interest rate on an RD?
For 1 Year and 5 Years of recurring deposit account which bank offers best interest rate?
How do you calculate fixed deposit interest?
Fixed deposit interest is calculated using the simple interest concept Interest = (principal * no. of years * rate of interest) / 100 principal = the amount you deposited rate of interest = the amount in % Ex: Deposit amount - 10,000 Rate of interest = 10% no of days = 365 Interest = (10000 * 365 * 10) / (365*100) = 1000
How do you calculate the annual percentage yield (APY) on a certificate of deposit (CD)?
To calculate the annual percentage yield (APY) on a certificate of deposit (CD), you can use the formula: APY (1 (interest rate/n))n - 1, where the interest rate is the annual interest rate and n is the number of compounding periods per year.
How do you calculate fixed interest?
Fixed deposit interest is calculated using the simple interest concept Interest = (principal * no. of years * rate of interest) / 100 principal = the amount you deposited rate of interest = the amount in % Ex: Deposit amount - 10,000 Rate of interest = 10% no of days = 365 Interest = (10000 * 365 * 10) / (365*100) = 1000
What is the Difference between fixed deposit and recurring deposit?
Hi, Fixed Deposit : Deposit certain amount for certain period of time either monthly/yearly and fetching of amount is optional. If you need to get the FD amount in 1 year (example), interest will be added with the actual amount . The interesting rate is depends on your bank. Recurring Deposit : Deposit fixed amount in regular time period. At final you will get the total amount with specific interest.
Advantages of recurring deposit?
In terms of ease of operation and opening a recurring deposit is easier because it will need much less contribution and on a regular basis whereas you need to deposit in lumpsum in case of a FD. But, the rate of interest is less than Fixed Deposits. But it is much easier to use and operate.
How do you calculate interest of 6 months fixed deposit with the principal of 10000 and the interest rate is 8 percent?
The formula to calculate interest is as follows: Interest = Principal * No. of years * Rate of Interest / 100 So Interest = 10000 * 0.5 * 8 / 100 = 400/- The interest you will receive interest at the end of the 6 month period is Rs. 400/-
