Every 3 months deposit 5000.How many years save 150000
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Interest is compounded on quarterly basis in recurring deposits. One can avail loans against the collateral of a recurring deposit up to 80 to 90% of the deposit value. ... The formula to calculate the maturity amount is as follows: Total sum deposited+Interest on it .Recurring Deposits are not prone to risks and is one of the safest form of investment. Returns that you can expect from the SIP are variable. There can be a risk of capital and returns depending on the stock market. But, recent data shows us the SIP gives good returns if held for a long period of time.
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