RD Calculator (Recurring Deposit)
Calculate the returns on your recurring deposit investment
Goal Amount
Expected Return (P.A)
Time Period
Summary
To achieve a goal amount of ₹15,00,000 in 10 year(s), and at 5% inflation, you would need to invest ₹9,20,869 at a 10% rate of return.
Summary
To achieve a goal amount of ₹15,00,000 in 10 year(s), and at 5% inflation, you would need to invest ₹9,20,869 at a 10% rate of return.
Total Investment Breakup
Lumpsum Investment
Interest Earned
Total Investment
| Year | Investment Amount (₹) |
Wealth Gained (₹) |
Expected Amount (₹) |
|---|
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RD Calculator
All you need to know about RD Calculator - Recurring Deposit Calculator
A Recurring Deposit (RD) is a popular investment option provided by banks and financial institutions. It allows you to deposit a fixed amount regularly for a predetermined period, helping you save and earn interest on your contributions.
An RD calculator simplifies forecasting the maturity amount, and interest earned, and provides a clear picture of your investment growth, aiding you in effective financial planning.
What is an RD Calculator?
An online RD calculator, also known as a recurring deposit calculator, is a valuable financial tool that assists you in estimating the maturity amount and interest accrued on your recurring deposit.
The smallcase RD rate calculator performs the necessary computations to calculate the potential maturity value and interest earned by inputting variables such as the monthly instalment, interest rate, tenure, and compounding frequency.
How Can an RD Calculator Help You?
A recurring deposit returns calculator is a useful tool to calculate the potential maturity value of recurring deposits. Here’s how it benefits you:
- Accurate Results
The recurring deposit calculator ensures precise calculations based on the inputs provided, such as the deposit amount, interest rate, and tenure. It gives a clear picture of the potential maturity amount, enabling you to make well-informed financial decisions.
- Ease of Use
With its simple and intuitive interface, the RD calculator online is easy to use. You just need to enter basic details, and the tool instantly calculates the expected returns or the required monthly deposit to meet your goals.
- Helps with Financial Planning
By showing you the potential maturity amount or the monthly deposit needed for a specific goal, the long term RD calculator aids in setting realistic financial targets and achieving them systematically.
- Free to Use
This RD calculators online is available for free, making it accessible to anyone who wants to plan their savings without additional costs.
Formula for Calculating RD Return
The calculation of the RD maturity amount involves three variables. These are plugged into a standard recurring deposit formula by an RD calculator online to determine the precise maturity amount.
The RD maturity is calculated by using the formula for RD calculation, mentioned below
A = P*(1+R/N)^(Nt)
| A | Final Amount (Including both principal and compound interest) |
| P | Monthly Installment (Initial investment) |
| r | Annual Interest Rate (expressed as a decimal) |
| n | Number of times interest is compounded per year |
| t | Number of years the money is invested for |
The variables symbolise essential elements in this equation.
Now, let’s understand how to calculate RD interest with an example of the RD calculation:
Suppose you deposit Rs. 5,000 every month in a recurring deposit with a compound interest rate of 6% per annum for 1 year. Now, by putting the values in the RD calculator formula, the calculated maturity amount would be Rs. 65,774 (5,000 x (1 + 0.06/4)^(4 x 1)).
How to Use the smallcase RD Calculator?
The smallcase RD calculator is known for its simplicity and user-friendly design. With this free tool, you can evaluate how much your investments might grow over time.
Let’s understand how to use the annual recurring deposit calculator:
- Choose your preferred RD plans according to the tenure and interest rates.
- Once you have the data, you can use the RD calculator for two scenarios:
Case 1 – If You Know the RD Investment Amount
In this scenario, you need to provide 3 key inputs:
- Your investment amount
- Expected return
- Time period
Once you enter these details, you can get an estimate of the potential returns that you will get after the completion of your investment tenure on the RD interest rates calculator.
Case 2 – If You Know Your RD Goal Amount
In this scenario, you will need to provide:
- Goal amount
- Expected return
- Time period
Once you input these details, you can get an estimate of how much amount you need to invest in your RD plans to reach your goal through the RD calculator.
Advantages of Using the Yearly RD Calculator
- Plan Your Investments: The RD interest calculator allows you to experiment with various values to plan your investments. You can adjust the monthly deposit, tenure, or interest rate until you find the optimal combination.
- Understand the Impact of Compounding: The yearly RD calculator considers compounding. This gives you a clear understanding of how it influences your investment’s growth.
- Time-Saving: Calculating the maturity amount and interest manually can be time-consuming and prone to errors. The RD yearly calculator provides instant and accurate results, saving you time and effort.
- Goal Setting: The annual RD calculator helps you set specific financial goals and determines the required monthly deposit and tenure to achieve those goals.
In conclusion, an online RD calculator is a valuable tool that helps you make informed investment choices, efficiently manage your finances, and optimise the returns on your recurring deposit investments.
Disclaimer
The results provided by this calculator are for illustrative purposes only and are based on the inputs provided by the user, including the monthly or lump sum investment amount, expected rate of return, and the investment time period.
The calculator assumes a constant rate of return and does not account for market fluctuations. Therefore, the actual future value of the investment may differ from the estimated value.
Smallcase makes no representations or warranties regarding the accuracy of the calculator’s results and is not responsible for any errors, omissions, or inaccuracies. The calculator does not consider taxes, fees, or other factors that may affect investment performance.
This calculator and the results generated are not intended as a solicitation to invest or as a recommendation for any particular investment product. Users are encouraged to consult with a qualified financial advisor before making any investment decisions.
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Frequently Asked Questions
Is TDS applicable on RD?
Yes, TDS (Tax Deducted at Source) is applicable on RD interest income. If the total interest earned on RD exceeds Rs. 10,000 in a financial year, the bank deducts TDS at the rate of 10%. However, if your total income is below the taxable limit, you can submit Form 15G/15H to the bank to avoid a TDS deduction.
What is the minimum amount to start a recurring deposit account?
The minimum amount required to start an RD account varies from bank to bank. Generally, it can be as low as Rs. 100 or Rs. 500. Different banks have different rules and regulations regarding the minimum deposit for RD accounts.
Can I break my RD prematurely?
Yes, you can break your RD prematurely. However, there might be a penalty for doing so, and the interest earned on the RD may be lower than the promised rate. The penalty and conditions for premature withdrawal depend on the bank’s policies and the duration for which the RD was held.
What are the minimum and maximum tenures to open a bank RD?
The minimum and maximum tenures for an RD can vary depending on the bank’s policies. Generally, the minimum tenure can be 6 months, and the maximum tenure can go up to 10 years. Some banks may offer even longer tenures for RD accounts, allowing customers to choose a tenure that suits their financial goals.
How to use the smallcase recurring deposit interest calculator online?
The smallcase RD Calculator is a free, user-friendly tool to estimate your RD returns. Here’s how to use it:
Choose an RD Scheme: Select your preferred RD scheme based on tenure and interest rates.
Provide Inputs:
- If you know the investment amount, enter the amount, expected return, and time period to calculate potential returns.
- If you know the goal amount, input the goal, expected return, and time period to determine the required monthly investment.
This simple process helps you plan your savings effectively based on your financial goals.
Can I withdraw RD at any time?
Usually, for early withdrawals, a penalty is imposed which equals 1% less than either the prevailing interest rates or the contracted rate, whichever is lower. However, there is no penalty for withdrawals made within 14 days of opening the RD account. Check with your bank and your financial advisor before making any withdrawals.
How is Recurring Deposit interest calculated?
RD Calculator uses compound interest formula for calculating recurring deposit returns. The interest is compounded on a quarterly basis, which means it is calculated every three months.
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