Uttar Bihar Gramin Bank RD Calculator

Are you looking for a smart and disciplined way to save money and watch it grow? Recurring Deposits (RDs) are an excellent option, and with the Uttar Bihar Gramin Bank RD Calculator available on AiCalculator.in, you can easily plan your financial future. This user-friendly tool helps you understand how much your regular deposits will accumulate, showing you the power of consistent saving combined with the benefits of quarterly compounding.

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What is a Recurring Deposit (RD)?

A Recurring Deposit (RD) is a special type of term deposit offered by banks, allowing individuals to deposit a fixed amount of money every month for a pre-determined period. Think of it as a systematic savings plan where you commit to regular contributions, and in return, your money earns interest, typically compounded quarterly.

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Why Use the Uttar Bihar Gramin Bank RD Calculator?

Manually calculating the maturity amount for an RD can be complex, especially with quarterly compounding. The Uttar Bihar Gramin Bank RD Calculator simplifies this process, providing instant and accurate results. It's designed to align with Uttar Bihar Gramin Bank's specific RD scheme parameters, giving you reliable projections for your savings.

Uttar Bihar Gramin Bank RD interest rate with Schemes:

Scheme Name	Eligibility	Tenure	Interest Rate	Additional Interest Rate	Minimum Deposit	Late Payment Penalty
Recurring Deposit Scheme	Individuals, Joint Accounts, Minors (10 years & above)	6 months to 10 years	As per prevailing term deposit rates	Senior Citizens: 0.5% Staff/Ex-Staff/Widow-Widower: 1.0%	₹5/month (in multiples)	₹1.58 per ₹100/month
Gramin Swashakti Flexi Recurring Deposit Scheme	Individuals, Joint Accounts, Minors (10 years & above), especially for monthly salaried depositors	6 months to 120 months	As per prevailing term deposit rates	None specified	₹100 (in multiples, max ₹1 lakh)	None
Gramin Lakhpati Recurring Deposit Scheme	Individuals, Joint Accounts, Minors (10 years & above)	12, 24, 36, 48, 60 months	As per prevailing term deposit rates	Senior Citizens: 0.5% Staff/Ex-Staff/Widow-Widower: 1.0% Ex-Staff Senior Citizens: 1.5%	Not specified	₹1.5 per ₹100/month

1. Recurring Deposit Scheme

• Eligibility: Individuals, Joint Accounts, Minors (10 years and above)
• Deposit Type: Cash or Transfer
• Instalment Payment: Monthly
• Minimum Deposit: ₹5 per month (in multiples of ₹5)
• Tenure: 6 months to 10 years
• Interest Rate: As per prevailing term deposit rates (contact bank for current rates)
• Additional Interest Rate:
  • Senior Citizens: +0.5%
  • Staff/Ex-Staff/Widow-Widower: +1.0%
• TDS: Applicable (exempt if Form 15G/15H submitted)
• Nomination Facility: Available for individuals (adult/minor); not available for minor accounts
• Maturity Date: 1 month after the last installment or tenure end, whichever is later
• Loan Facility: Up to 90% of deposit amount + interest
• Premature Closure Penalty: 1% deduction in interest rate; additional penalty for deposits above ₹2 lakh
• Late Payment Penalty: ₹1.58 per ₹100 per month
• Application & Documents:
  • Bank’s prescribed application form
  • PAN card copy or Form 60/61 (if no PAN)
  • Two photographs of account holder/authorized signatory
  • KYC documents (ID and address proof)

2. Gramin Swashakti Flexi Recurring Deposit Scheme

• Eligibility: Individuals, Joint Accounts, Minors (10 years and above); designed for monthly salaried depositors
• Deposit Type: Cash or free transfer (from any branch)
• Instalment Payment: Monthly, variable (up to 10 times the core instalment)
• Minimum Deposit: ₹100 (in multiples, maximum ₹1 lakh per month)
• Tenure: 6 months to 120 months
• Interest Rate: As per prevailing term deposit rates (contact the bank for current rates)
• Additional Interest Rate: Not specified
• TDS: Not applicable
• Nomination Facility: Available for individuals (adult/minor); not available for minor accounts
• Maturity Date: 1 month after the last instalment or tenure end, whichever is later
• Loan Facility: Up to 90% of the deposit amount + interest
• Premature Closure Penalty: No penalty for premature closure or late payment
• Late Payment Penalty: None
• Application & Documents:
  • Bank’s prescribed application form
  • PAN card copy or Form 60/61 (if no PAN)
  • Two photographs of the account holder/authorised signatory
  • KYC documents (ID and address proof)
• Special Feature: Allows flexible monthly deposits, making it suitable for salaried individuals with variable income.

3. Gramin Lakhpati Recurring Deposit Scheme

• Eligibility: Individuals, Joint Accounts, Minors (10 years and above)
• Deposit Type: Cash or Transfer
• Instalment Payment: Monthly
• Minimum Deposit: Not specified (available at branches)
• Tenure: 12, 24, 36, 48, or 60 months
• Interest Rate: As per prevailing term deposit rates (contact bank for current rates)
• Additional Interest Rate:
  • Senior Citizens: +0.5%
  • Staff/Ex-Staff/Widow-Widower: +1.0%
  • Ex-Staff Senior Citizens: +1.5%
• TDS: Not applicable
• Nomination Facility: Available for individuals (adult/minor)
• Maturity Date: 1 month after the last installment or tenure end, whichever is later
• Loan Facility: Up to 90% of deposit amount + interest
• Premature Closure Penalty: No penalty
• Late Payment Penalty: ₹1.5 per ₹100 per month
• Application & Documents:
  • Bank’s prescribed application form
  • PAN card copy or Form 60/61 (if no PAN)
  • Two photographs of account holder/authorized signatory
  • KYC documents (ID and address proof)

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Key Features of the Uttar Bihar Gramin Bank RD Calculator

This powerful tool is packed with features to make your RD planning effortless and insightful:

1. Accurate RD Calculation

The calculator uses the standard RD formula with quarterly compounding. This ensures that the results you see are precise and reflect how interest is typically calculated on recurring deposits in India. It's specifically tailored to match Uttar Bihar Gramin Bank's RD scheme parameters, giving you confidence in the figures.

The formula generally used for RD maturity calculation with quarterly compounding is:

This formula accounts for the "interest on interest" effect that makes compounding so powerful!

2. User-Friendly Inputs

The calculator boasts an intuitive interface that makes it easy for anyone to use:

• Monthly Deposit Amount (min ₹500): You can input your desired monthly contribution, starting from a minimum of ₹500, making it accessible for a wide range of savers.
• Tenure Options from 6 to 60 Months: Choose the duration of your RD, from as short as 6 months to as long as 60 months, allowing for both short-term and medium-term financial planning.
• Adjustable Interest Rate: While the calculator defaults to the current Uttar Bihar Gramin Bank (UBGB) rates (typically 6.25% - 7.25%), you have the flexibility to adjust the interest rate if you wish to explore different scenarios or if rates change.

3. Detailed Results at Your Fingertips

Once you hit "Calculate," the tool provides a comprehensive breakdown of your RD's growth:

• Total Deposits Made: This shows the sum of all your monthly installments over the chosen tenure.
• Interest Earned: See exactly how much interest your money has generated thanks to compounding.
• Final Maturity Amount: This is the total amount you will receive at the end of the RD tenure, including your principal deposits and the accumulated interest.

4. Visual Pie Chart Showing Deposit vs. Interest

Numbers can sometimes be abstract. That's why the calculator includes a visual doughnut chart. This chart clearly illustrates the proportion of your total maturity amount that comes from your own deposits versus the interest earned. It's a fantastic way to visually grasp the power of compounding! The interactive tooltips on the chart provide exact values for each segment.

5. Bank-Specific Information

Beyond just calculations, the tool also provides valuable bank-specific information:

• Displays UBGB's RD Features and Rules: Get quick insights into the general features and regulations of Uttar Bihar Gramin Bank's Recurring Deposit scheme.
• Minimum Deposit Requirements: Reconfirm the minimum monthly deposit amount.
• Tenure Options and Compounding Details: Understand the available tenures and how the interest is compounded (quarterly in this case).

6. Mobile Responsive Design

In today's mobile-first world, accessibility is key. This calculator features a clean interface that works well on all devices, from desktops to smartphones. With large buttons and inputs, it ensures a seamless experience for mobile users. Its simple, intuitive design means you won't get lost in complicated menus.

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How to Use the Uttar Bihar Gramin Bank RD Calculator?

Using this calculator is incredibly straightforward:

1. Enter your monthly deposit amount: Decide how much you want to save regularly. Remember, the minimum is ₹500.
2. Select the tenure period: Choose your desired RD duration in months, from 6 to 60 months.
3. Adjust interest rate if needed: The current UBGB rates (6.25% - 7.25%) are set by default. You can change this if you have a specific rate in mind or want to compare.
4. Click "Calculate" to see your maturity amount instantly!

The calculator automatically displays results with proper Indian rupee formatting and accurate rounding, making the figures easy to understand. The visual chart then provides an excellent way to visualise the breakdown of your maturity amount.

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Example: Let's See Your Savings Grow!

Imagine you decide to open an RD with Uttar Bihar Gramin Bank. Let's use the calculator to see your potential returns:

• Monthly Deposit: ₹2,000
• Tenure: 36 months (3 years)
• Interest Rate: 7.00% (an assumed current UBGB rate)

Upon clicking "Calculate," the tool would show you:

• Total Deposits Made: ₹72,000 (₹2,000/month * 36 months)
• Interest Earned: Approximately ₹8,500 - ₹9,000 (exact figure will be calculated by the tool based on quarterly compounding)
• Final Maturity Amount: Approximately ₹80,500 - ₹81,000

The doughnut chart would then visually represent how much of that ₹80,500 - ₹81,000 comes from your ₹72,000 principal and how much is pure interest earnings. This quick calculation helps you set realistic savings goals and stay motivated!

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Frequently Asked Questions (FAQs)

Q1: What is the minimum monthly deposit for an RD at Uttar Bihar Gramin Bank?

A1: The minimum monthly deposit for an RD with Uttar Bihar Gramin Bank is ₹500.

Q2: How is the interest on an RD calculated?

A2: Interest on Recurring Deposits at Uttar Bihar Gramin Bank is calculated using a quarterly compounding method. This means the interest earned in each quarter is added to your principal, and the next quarter's interest is calculated on this new, higher amount.

Q3: Can I change my monthly deposit amount or tenure after opening an RD?

A3: Generally, in a standard Recurring Deposit, the monthly deposit amount and tenure are fixed once the account is opened. However, it's always best to check with Uttar Bihar Gramin Bank directly for specific scheme rules and any flexibility they might offer.

Q4: Are there any penalties for premature withdrawal of an RD?

A4: Most banks, including Uttar Bihar Gramin Bank, may levy a penalty for premature withdrawal of an RD. The interest paid will typically be lower than the contracted rate for the period the deposit remained with the bank. Refer to the bank's official RD terms and conditions for details.

Q5: Is the interest earned on RDs taxable?

A5: Yes, the interest earned on Recurring Deposits is taxable as per the prevailing income tax laws in India. If the interest earned exceeds a certain limit in a financial year, Tax Deducted at Source (TDS) might be applicable.

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Start Your Savings Journey Today!

The Uttar Bihar Gramin Bank RD Calculator is more than just a tool; it's your personal financial planner, helping you visualise and achieve your savings goals. By making consistent, small deposits, you can build a significant corpus over time, all thanks to the power of compounding.

Ready to see your money grow?

👉 Visit AiCalculator.in now and use the Uttar Bihar Gramin Bank RD Calculator! 👈