To calculate your Union Bank of India RD, Enter the following details given below:
RD-(Recurring Deposit) Calculator
Investment vs Interest
Growth Over Time
M = R × [(1 + i)n − 1] ÷ (1 − (1 + i)−1/3)
where i = r ÷ (compounding × 100), n = compounding periods, R = monthly deposit.
| Year | Invested (₹) | Interest (₹) | Total (₹) |
|---|
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What Is a Recurring Deposit (RD)?
A Recurring Deposit (RD) is a safe way to save money regularly. Recurring Deposits are offered by banks and post offices. They work well for people who prefer investing a fixed amount every month instead of putting in a large sum all at once.
Recurring Deposits (RDs) are quite similar to Fixed Deposits (FDs). With one key difference. In a Fixed Deposit (FD) you invest a lump sum amount in one go. In a Recurring Deposit you deposit a fixed amount every month for a chosen period.
One of the things about a Recurring Deposit (RD) is its flexibility. You can choose how much you want to invest every month in your Recurring Deposit and for how long. The interest rate is fixed when you open your Recurring Deposit account so you already know what to expect at maturity.
You can start a Recurring Deposit with an amount, usually around ₹100 to ₹10,000 per month depending on the bank. The tenure of your Recurring Deposit can range from 6 months to 10 years.
A Recurring Deposit is especially useful for building a habit of saving. If you ever need money urgently you may be allowed to withdraw early from your Recurring Deposit although some conditions or penalties might apply depending on the bank.
What Is an RD Calculator?
An RD Calculator is a handy online tool that helps you easily see how much your savings can grow over time. Instead of dealing with complicated manual calculations, it gives you a clear and quick estimate of your investment.
In just a few clicks, it calculates your final maturity amount, so you know exactly what to expect at the end of your RD period.
RD (Recurring Deposit) Calculation Formula
M = R × [ ( (1 + i)^n – 1 ) / (1 – (1 + i)^(-1/3) ) ]
Where:
- M – is the maturity amount. This is the amount you receive.
- R – is the amount you deposit every month.
- n – is the number of months.
- i – is the interest rate, per quarter. To get this you divide the rate by 400.
Example – RD Manual Calculation
- Monthly deposit (R) = ₹2,000
- Interest rate = 6% per year
- Time period = 2 years = 24 months
Step 1: Convert interest rate
- Monthly interest rate = 6 ÷ 12 ÷ 100 = 0.005
Step 2: Apply formula
- Maturity Amount (M) = R × [((1 + i)^n − 1) ÷ (1 − (1 + i)^(-1))]
Now put values:
- M = 2000 × [((1 + 0.005)^24 − 1) ÷ (1 − (1 + 0.005)^(-1))]
Step 3: Calculate step-by-step
- (1 + 0.005)^24 (approximately) 1.12749
Now:
- M = 2000 × [(1.12749 − 1) ÷ (1 − 0.995)]
- M = 2000 × (0.12749 ÷ 0.005)
- M = 2000 × 25.498
- M ≈ ₹50,900 (approx.)
Final Result:
- Total invested = ₹48,000
- Interest earned (approximately) ₹2,900
- Maturity amount (approximately) ₹50,900
How to Use TankCalculator’s Union Bank of India RD Calculator
Using this calculator is simple and requires only a few steps:
- 1. Enter your monthly deposit the amount you plan to invest for exp ₹1,000 or more.
- 2. Set the interest rate (% per annum) interest rate offered by your bank for exp: 7%.
- 3. Choose the duration in months or years using the toggle option.
- 4. Select the compounding frequency (Quarterly or Monthly).
- 5. And Just Click On Calculate Button, that’s it! Instantly, you’ll see a beautiful visualization of your maturity amount, total interest earned, and growth over time in an interactive chart.
Union Bank of India RD Interest Rates (2020–2026)
| Year | General Public /P.A. | Senior Citizens /P.A. | Due To |
|---|---|---|---|
| 2020 | 5.00% – 6.50% | 5.50% – 7.00% | Low rates because of COVID |
| 2021 | 5.00% – 6.40% | 5.50% – 6.90% | Low interest rates are still around |
| 2022 | 5.20% – 6.75% | 5.70% – 7.25% | Rates will go up slowly after RBI increases them |
| 2023 | 5.25% – 7.30% | 5.75% – 7.80% | Peak interest rates start here |
| 2024 | 6.00% – 7.30% | 6.50% – 7.80% | High interest rates will stay for some time |
| 2025 | 6.35% – 7.30% | 6.85% – 7.80% | Rates are similar, to fixed deposit rates |
| 2026 | 6.25% – 7.30% | 6.75% – 7.80% | Current interest rates depend on how you invest |
About Union Bank of India
Union Bank of India is a well known bank in India. It has a history that goes back over a hundred years. The bank was started by Seth Sitaram Poddar and some other businessmen who had a vision for the future on 11 November 1919 in Bombay, which is now called Mumbai.
In the beginning Union Bank of India was very focused on helping traders and local businesses. But something big happened in 1921 when Mahatma Gandhi opened the bank’s office, which made Union Bank of India a part of India’s freedom movement history.
The bank became a public sector bank in 1969. It grew a lot after it merged with Andhra Bank and Corporation Bank in 2020 which made it one of the biggest lenders in the country.
Now Union Bank of India has a network all over the country. As of 2026 Union Bank of India has around 8,650 – 8,900 branches in India and around 8,900 – 11,000 ATM machines where you can take out money and many other places where you can do business with Union Bank of India. Union Bank of India also employs a lot of people around 74,000 – 76,000 which makes it a big employer in the banking sector.
The total business of Union Bank of India was than more ₹22 lakh crore by the end of 2025, which is a good mix of money that people have put in the bank and money that the bank has lent to people.
Union Bank of India is Headquartered in Mumbai. It offers many services like banking for individuals, corporate loans, Micro, Small, and Medium Enterprises financing, loans for farmers banking on the internet and services for people in other countries through its branches in Dubai and Sydney and a smaller bank, in London. Union Bank of India was one of the big public sector banks to use technology for all its core banking services.
About TankCalculator’s Union Bank of India RD Calculator
Our Union Bank Of India RD Calculator is a useful tool that helps people figure out how much money they will get from their investments when they mature. The RD Calculator uses the formulas that banks use so the results are very close, to what the banks would give you. It also lets you choose if you want the interest added to your investment every month or every quarter which is handy. This way the RD Calculator gives you a good idea of what to expect from your recurring investments.
The calculator allows users to input key details such as monthly deposit, interest rate, and investment duration, and instantly computes the total investment, interest earned, maturity value, and effective yield. It also provides visual insights through charts and a year-wise breakdown, making it easier to understand how your investment grows over time.
Key Features of the Union Bank of India RD Calculator
The Union Bank of India RD Calculator uses a formula from banks to accurately calculate maturity.
- It has two ways to input data: you can type in the details. Use sliders for easier handling.
- You can choose the duration in months or years whichever is convenient for you.
- There are options, for monthly compounding for giving you more control.
- The calculator provides charts to show how your investment grows over time compared to the interest earned.
- A table breaks down your investment year by year for clarity.
- You can export the results to a CSV file. Print them out directly.
Benefits of Using the Union Bank of India RD Calculator
The calculator improves efficiency because it removes the requirement to perform manual RD calculations which are difficult and prone to mistakes. The system delivers immediate precise results which enable users to improve their financial decision-making process.
For investors it helps to see how small monthly deposits add up over time. For professionals it makes it easy to estimate and report client results with features like exporting to CSV and printing results.
The charts and breakdowns that come with it make things clearer so you can see how your investments are doing and plan for the future. This Union Bank of India RD Calculator takes the guesswork out of planning investments in Recurring Deposits.
Frequently Asked Questions (FAQ)
What is the minimum balance required in a Union Bank of India savings account?
In villages and small towns you usually need to have around ₹250 in your account. In cities you usually need to have between ₹500 and ₹1,000. If you have a Basic Savings Bank Deposit Account you do not need to have any money in your account. It is always an idea to check with your local Union Bank of India branch or the official Union Bank of India website because the rules might be a little different.
How can I close my Union Bank of India account?
Closing your Union Bank of India account is easy. You need to go to your Union Bank of India branch and give them a letter saying you want to close your account. You also need to give them your passbook, debit card and any checks you have not used. You need to show them a valid ID to prove who you are. Before you close your account make sure you do not have any money coming in or going out of your account. If you have any money left in your account Union Bank of India will give it back to you. Send you a check.
How many branches does Union Bank of India have?
As of 2026 Union Bank of India has around 8,600 to 8,900 branches all over India. After Union Bank of India merged with Andhra Bank and Corporation Bank it became one of the government banks in India. Union Bank of India has branches in villages and small towns and it also has a lot of ATMs.
How can I contact Union Bank of India customer care?
You can call Union Bank of India customer care at these numbers: 1800-2333 1800-208-2244, 1800-425-1515 and 1800-425-3555. If you think someone is trying to cheat you you can call a number: 1800-2222-43. If you are a customer you can call 1800-425-2407.
What is the salary of a Union Bank of India Probationary Officer (PO)?
A Union Bank of India Probationary Officer (PO) usually starts with a salary of around ₹72,000 to ₹78,000 per month. This depends on where the officer’s working. The basic salary is around ₹48,480. After taxes the officer usually takes home between ₹65,000 and ₹72,000. If the officer is working in a city they might get more money for things like rent.
What is the salary of a Union Bank of India Clerk?
A Union Bank of India Clerk usually starts with a salary of around ₹24,050. The total salary is usually between ₹40,000 and ₹47,000 per month. After taxes the clerk usually takes home between ₹37,000 and ₹43,000. This depends on where the clerk’s working and what other benefits they get.
How many free ATM transactions are allowed?
You can use your Union Bank of India ATM card for five times a month at Union Bank of India ATMs. At banks ATMs you can use your card for free three times a month. If you use your card more than these times you might have to pay a fee of around ₹20 plus tax.
How to check Union Bank of India account balance via SMS?
To check your account balance you can send a message to 56161 or 8422009988. You need to write “UBAL”. The last four digits of your account number. You will get your account balance immediately. Make sure your phone number is registered with Union Bank of India for this service.
Is Union Bank of India a government bank?
Yes Union Bank of India is a government bank. The government of India owns than 74 percent of Union Bank of India. The bank was taken over by the government in 1969. Is controlled by the Reserve Bank of India.
What is the tax on Recurring Deposit accounts?
The interest you earn on your Recurring Deposit account is taxable. If you earn than ₹40,000 in interest in a year the bank will take out some tax. If you are a citizen the bank will take out tax if you earn more than ₹50,000. If you do not have to pay tax you can fill out a form to avoid paying tax. You need to tell the government about the interest you earned when you file your tax return.
Is a Recurring Deposit account in Union Bank of India?
Yes Union Bank of India offers Recurring Deposit accounts. This is a way to save money by putting a fixed amount in your account every month. You earn interest on your money. It is a good way to save regularly.
What is the minimum deposit for a Union Bank RD?
The minimum amount you need to put in your Recurring Deposit account every month is ₹100. There is no limit so you can put in as much money as you want.
What is the tenure for Union Bank RD accounts?
You can open a Recurring Deposit account for a time like six months or, for a long time like ten years. This gives you the flexibility to choose how you want to save your money.
What documents are required to open a Union Bank RD?
To open a Recurring Deposit account you need to show your ID, like your Aadhaar card or passport. You also need to show proof of where you live, like a utility bill. You need to give them a photo of yourself and the money to start your account. If you already have a Union Bank of India account it is easier to open a Recurring Deposit account because they already have your information.