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How to calculate interest on recurring deposits? |
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submitted by sakuntala 1718 days ago (via onemint.com) |
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When you create a RD for Rs. 10,000 for 2 years, what you’re doing is depositing Rs. 10,000 with the bank every month for 24 months, and the bank pays you interest on Rs. 10,000 for 2 years compounding it quarterly, then for the next Rs. 10,000 it pays you interest for 23 months, and so on and so forth. |
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