October 26, 2014

How to calculate interest on Recurring Deposit (Compound Interest)

Recurring deposit is one of the best savings scheme in India and almost everyone has done at least one RD account. But many people don't know how the interest is accumulated in these accounts. They are simply happy with what agents have explained them. But you should know where your money is invested and how much you will get in future and based on what calculation you are earning interest on your invested money. 

How to calculate interest on recurring deposits


There are 2 types of interest rates applied on savings schemes. Normal interest and compound interest rate. For recurring deposit the interest rate is calculated based on compound interest rate formula.

Also Read  How to open a Recurring Deposit Account Online in SBI

The annual compound interest formula is
A = P \left(1 + \frac{r}{n}\right)^{nt}
Where,
  • A = final amount
  • P = principal amount (initial investment)
  • r = annual nominal interest rate (as a decimal, not in percentage)
  • n = number of times the interest is compounded per year
  • t = number of years
Let's say you have a recurring deposit account with monthly investment of Rs 2000/- . As per current interest rate 8.40% with a maturity of 5 years.
Now in case of compound interest (e.g. compounded quarterly), the amount deposited for 1st month with interest accumulated for 60 months (here tenure 5 years) on that will consider together as principle for next month. But from next month on wards the tenure will reduce by 1 month.  So you will get a higher return than a normal direct interest rate investment.

Also Read  6 Best low risk investment schemes from Post office

I found a very good example on this in detailed manner in onemint.com blog. An elaborate month wise data is provided there. You can check with your amount deposited every month and calculate yourself.

How to make Bhetki Maacher Paturi recipe

Paturi recipe is a special way of cooking which we can apply for any fish, but here we will discover the steps to prepare Bhetki fish paturi recipe at home. In Bengal we prepare mostly Bhetki paturi or hilsha paturi. If you are a vegetarian, then go ahead and try this with paneer or with some other vegetables. You will definitely enjoy the preparation as well the food.

bhetki maacher paturi recipe

Let's see how can we make Bhetki Maacher Paturi at home easily.

Also Read  How to prepare Bhetki Macheer Jhal Recipe 

Ingredients for Bhetki Fish Paturi Recipe

  • Bhetki Maach pieces (4-5)
  • 4 tbsp Mustard Oil
  • 1 tbsp turmeric powder
  • 1 tbsp Green chili paste
  • 1/2 coconut grated
  • 2 tbsp mustard powder
  • Salt as per taste
  • Pinch of sugar
  • Banana leaves

Steps to prepare Bhetki Fish Paturi Recipe

  • Wash the fish pieces properly and keep them separately in a plate.
  • In a bowl mix oil, turmeric powder, mustard powder, chili paste, grated coconut salt and sugar.
  • Now add the fish pieces to the bowl and mix them all.
  • Carefully marinate each piece so that a good layer is created outside each fish and then refrigerate them for 1 hour.
  • By the time wash the banana leaves properly and makes them dry.
  • Next oil one side of the banana leaf in which the fish pieces will be covered one by one.
  • Put the fish piece on that and cover the leaf and bind/wrap the fish inside banana leaf with some thread/string. Apply the same step for rest of the fish pieces.
  • Now heat a pressure cooker in a low flame. 
  • Need to steam the banana fish wraps in that for 15 min. You can also use microwave to cook them.
  • Fish pieces will be cooked inside banana leaf in a spicy mustard mixture.
  • Serve the banana leaf wrapped fish pieces with steamed rice. You can now open the wrap and enjoy aroma as well as taste the juicy bhetki fish paturi recipe.
Also Read  How to prepare Bhetki fish starter recipe at home

It's a terrific recipe. Try this with paneer/vegetables also and let me know how did you enjoyed making this dish.

October 19, 2014

How to make Bhetki Macher Jhaal Recipe

Bhetki maach is one of the premium category fish in Bengal and its like a signature fish for a Bengali, like hilsha fish. Bengalies consume bhetki in many ways. I am sharing one of the recipes which is very popular in any Bengali's kitchen. If you are not able to recognize the fish then search with Barramundi/Barramundi perch fish. We Bengali es love to prepare Jhaal, a spicy dry curry with any fish. let's see how this Bhetki Jhaal come out today.

Also Read   Bhetki Maacher Paturi Recipe

Ingredients for Bhetki Fish Jhaal Recipe

  • Bhetki fish pieces (5-6)
  • 2 medium size onions(make them paste)
  • 1/2 tbsp ginger paste
  • 1/2 tbsp garlic paste 
  • 1 tbsp cumin seeds
  • 1 bay leaf
  • ½ tbsp sugar
  • 1 tbsp of turmeric powder
  • 1 tbsp chili powder
  • 1 tbsp coriander powder
  • 1 tomato finely chopped
  • 1 tbsp lemon juice
  • 1/2 tbsp ghee
  • Mustard oil
Also Read    How to Make Bhetki Fish Starter Recipe

Steps to prepare Bhetki Macher Jhaal Recipe

  • Clean the fish pieces properly.
  • Marinate them with turmeric powder, salt and lemon juice.
  • Heat oil in a deep pan and fry the fish pieces.
  • Carefully turn the fishes and fry them till color changes.
  • Now drain oil form them and keep them aside.
  • Add little more oil in the pan and add cumin seeds & bay leaf.
  • Now add the onion paste to the oil and stir properly.
  • Fry the onions till color changes to brown.
  • Now add chopped tomatoes. Add little salt and turmeric powder as well.
  • After 5-6 min of cooking add all the masalas (Ginger garlic paste,chili powder,coriander powder).
  • Mix them all and fry for next 2-3 min.
  • Finally add water. It will be a thick gravy dish, so add water carefully.
  • Now add the fish pieces to that gravy and cover the pan.
  • After 4-5 min, open the cover and add ghee.
  • Serve hot with steamed rice.

    How to check UAN (Universal Account Number) status online

    In a latest move by Mr. Narendra Modi our so called EPF account now can be portable to a new Universal Account Number (UAN) which will be the unique address for our EPF account. So far whenever someone changes his/her job and joins the new organisation he/she has to withdraw or transfer the EPF amount. If you want to withdraw the EPF amount then its your choice and you are disturbing the long term investment here. But for them who want to transfer their old EPF account to new employer it was a lengthy procedure till date. And every time a new EPF number need to generate for that as well by the new employer. But now with the launch of this UAN, EPF number portability is also possible and you can carry a single EPF account for every organisation you will work in future. It's like a savings account or salary account in a bank.

    Also Read     How to Withdraw EPF amount in India

    Steps to Transfer your EPF account to UAN and check status online

    Although UAN facility has been launched, but it will take sometime to get this number for everyone as we are part of a big nation. Govt will issue UAN number to all employees gradually and then you have to communicate that number to your previous organisation or current organisation so that they can transfer your balance to that account. Here you can check easily whether your UAN number is generated or not by simply following the below steps.

    Step 1 : First of all visit UAN official website . https://uanmembers.epfoservices.in  (for employees). If you are an employer then you have to visit a separate portal. https://employerclaims.epfoservices.in
    check your universal account number status online


    Step 2 : Now in the employee UAN website find out the "Know Your UAN Status" blinking on the top left side. Click on that link. A new page will open where you can see it is asking for your EPF details.


    check your universal account number status online
    Step 3 : Now provide the details in that screen. Select state and area and then it will automatically populate Region & Office of your PF account number.

    Step 4 : Then provide Est Code, Ext & A/c no and click on check status. I found the message "UAN is not allotted". 


    check your universal account number status online

    So for me its not yet generated. But did you check that whether its generated for your or not. If not then you should check your UAN status online today itself. Don't ignore the huge amount most people kept in old EPF accounts. It is a chance to get your money back and utilize them for your future.

    Also Read     Should you Withdraw or Transfer your EPF balance?

    Anyway you can share your experience & status with this UAN number launched recently.