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The Recurring Deposit calculator (RD calculator) is a simple tool designed to help you estimate the maturity amount and interest earned on your RD investments. Just enter the required fields, such as monthly deposit amount, investment duration, and interest rate, and the RD calculator will give you fast and correct results without any manual calculation. As RD is a savings scheme that allows you to invest a fixed amount at regular intervals, ... it promotes disciplined savings over time. Facilitated by tools like the online calculator, you can manage your RD investments wisely and more effectively. Read more
Monthly Investment
Interest Rate(P.A)
Investment Tenure(Years)
An RD calculator is an online tool that helps you estimate the maturity amount of your Recurring Deposit without the need for complex calculations. It uses the principal amount, tenure, interest rate, and compounding frequency to provide accurate results instantly.
RD calculators can help you compare different tenures and interest rates instantly. You can then choose to start an RD that maximizes your returns.
See, recurring calculators allow even those who do not have the knowledge of complex mathematics to determine the maturity amount. Still, if you want to understand how the calculator works, here is the formula that forms the foundation for calculating RD earnings:
M = P × [(1 + r/n)^(nt)]
Here, M is the maturity value
P is the monthly deposit
r is the annual interest rate
n is compounding frequency
t is the tenure in years or the duration left till maturity
Let’s say you deposit ₹7,000 every month in the RD for a year and earn interest at a rate of 8.5% compounded quarterly:
Here,
P= ₹7,000
r= 8.5%= 0.085
n= 4
Placing these values in the RD calculator formula,
Maturity value for the first month, i.e., t= 12months = 1 year
M = 7000 × [(1 + .085/4)^ (4*1)] = ₹7,614.24
Maturity value for the second month, i.e., t= 11/12 years
M = 7000 × [(1 + .085/4)^ (4*11/12)] = ₹7521.88
This will continue till the twelfth month, where t= 1/12 years
M = 7000 × [(1 + .085/4)^ (4*1/12)] = ₹7049. 37
Adding all these values together,
M= ₹7,614.24 + ₹7521.88 + …………….. + ₹7049. 37 = ₹87,941.23
This is the total maturity amount you will receive at the end of the year.
Using the RD interest calculator is simple and requires just a few inputs to get an accurate estimate of your maturity amount. Follow these steps:
The Recurring Deposit interest calculator will instantly display your estimated returns and total maturity value
RD return calculators are free to use and easily available online. Thus, people from all walks of life can use them and avail the following benefits:
Financial well-being starts with a plan. You can check out more financial tools and calculators to get a head start in your financial journey.
The information herein is meant only for general reading purposes and the views being expressed only constitute opinions and therefore cannot be considered as guidelines, recommendations or as a professional guide for the readers. The content has been prepared on the basis of publicly available information, internally developed data and other sources believed to be reliable. Recipients of this information are advised to rely on their own analysis, interpretations & investigations. Readers are also advised to seek independent professional advice in order to arrive at an informed investment decision. Further customer is the advised to go through the sales brochure before conducting any sale. Above illustrations are only for understanding, it is not directly or indirectly related to the performance of any product or plans of Kotak Life.
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