MoneyLens / Deposits
Your deposit, explained.
Recurring deposit · Narmada Recurring Deposit · Narmada Bank Ltd · ••••5520
Illustrative
Recurring deposit · Bank
Receipt5 Nov
Next instalment
₹10,000
on 5 Nov 2026 · 12 of 24 paid
At maturity
₹2,57,658
on 5 Nov 2027
Interest after tax
₹12,361
estimate at a 30% slab
Insured today
₹1,23,790
fully, up to ₹5,00,000
48% of the term run380 days to maturity
A recurring deposit of ₹10,000 a month with Narmada Bank Ltd at 6.80% a year, growing to about ₹2,57,658 by 5 Nov 2027. Bank deposits are insured up to ₹5,00,000 per bank. Interest is taxed at your slab every year it's earned.
Myra's most important observations
What Myra found for you
From your documents · each figure opens its findingAt risk
If it happens: scenarios, not added together
Six questions, answered
Tap an answer for the detail01Product identity
- ProductNarmada Recurring Deposit
- Taken byNarmada Bank Ltd (bank)
- Deposited5 Nov 2025
- Matures5 Nov 2027
- Deposit••••5520
- DocumentsRD account advice · RD passbook · October
02What this is
A recurring deposit of ₹10,000 a month with Narmada Bank Ltd at 6.80% a year, growing to about ₹2,57,658 by 5 Nov 2027. Bank deposits are insured up to ₹5,00,000 per bank. Interest is taxed at your slab every year it's earned.
03Key numbers
Deposit runningMonthly instalment
₹10,000
for 24 months
Rate a year
6.80%
Compounded quarterly
At maturity
₹2,57,658
5 Nov 2027
Yield a year
—
Before tax
Insured
₹1,23,790
of ₹1,23,790 today
04Important findings
Most important first · tap to expandDeposit insurance covers up to ₹5,00,000 per depositor per bank, principal and interest together, across all accounts at the bank held in the same right and capacity; branches of one bank count as one bank. Myra counted only this deposit: add your other savings, FDs and RDs at this bank held the same way to include them. Joint accounts, and accounts in another capacity (as a guardian, say), are insured separately. What counts is the balance on the day a bank is put under restrictions, so this is an estimate.
Deposit receipt p.1, Maturity
08What Myra could not verify
1!
Your other deposits at this bank held the same way
Needed to confirm a finding
09Suggested questions
05What you're committing to
- ₹10,000 every month for 24 months
- Interest is taxed at your slab every year, even if paid only at maturity
06What can change
- RateFixed for the deposit's term; a renewal gets the rate on that day
- InsuranceUp to ₹5,00,000 per bank, per depositor
- TaxAt your slab; TDS thresholds and forms are set each year
07Closing the deposit
- Breaking it earlyRate for the time held, less any disclosed penalty
- At maturityAs set on the receipt
- NomineeNone registered