Enter the monthly RD investment, interest rate (p.a.), and tenure information to get the maturity amount for your RD.

₹

%

Invested Amount | : ₹1,000 |

Total Interest | : ₹532 |

Maturity Amount | : ₹12,532 |

Recurring Deposit, commonly referred to as RD, is a long-term investment tool where the investor deposits a minimum amount on a monthly basis throughout the chosen tenure and earns interest over time. Compared to Fixed Deposits where you have to invest a lump-sum amount, RDs offer more flexible schemes.

The RD calculator serves as a valuable resource for individuals looking to estimate their savings or evaluate the returns on their recurring deposit investments. This tool effortlessly computes the projected maturity amount with precision. Just input your **deposit amount, RD interest rate**, and **desired investment tenure** in years or months, and it will quickly calculate the maturity amount for you.

If you want to calculate the maturity amount manually without using an online calculator, you can do that as well using the mathematical formula

A = P { (1 + r/n)^(nt) }

Where,

- A = maturity amount,
- P = installment amount,
- r = RD interest rate,
- n = number of times the interest rate is compounded in a year,
- t = tenure in years.

For example, if you deposit ₹1,000 per month for 5 years at an annual interest rate of 6% compounded quarterly, then the maturity value would be:

A = P*(1+R/N)^(Nt)

A = 1000 * (1 + 0.06/4)^(4*5)

A = ₹70,535.99

Therefore, the maturity amount for an RD investment of ₹1,000 every month with a 6% annual interest rate compounded quarterly over 3 years would be approximately ₹₹70,065.

Use the quick and simple RD calculator to find your maturity amount in a matter of seconds. All of the following data must be entered into the RD maturity calculator by following the guidelines below.

Step 1: Input your RD investment amount.

Step 2: Add the bank's interest rate.

Step 3: Specify the RD tenure in years or months.

Step 4: View the calculator's displayed maturity amount.

To determine the interest amount of your RDs, you have the option to employ an online calculator or perform the calculation manually. The mathematical formula for this computation is presented below:

Here,

M = Maturity Value

R = Monthly Installment

n = Number of quarters

I = Rate of interest / 400

For example, if you deposit ₹1,000 per month for 5 years at an annual interest rate of 6% compounded quarterly, then the total interest earned would be:

R = ₹1,000

n = 5 years * 4 quarters/year = 20 quarters

i = 6% / 400 = 0.015

Using the compound interest formula:

M = R [(1 + i)^n-1] / (1 - (1 + i)^(-1/3) )]

Calculating the value:

M = 1000[(1+0.015)^20-1]/(1-(1+0.015)^(-1/3))

M = ₹70,535.99

Interest = Maturity Value - Total Deposits

Interest = ₹70,535.99 - (₹1,000/month * 12 months/year * 5 years)

Interest = ₹70,535.99 - 60,000

Interest = ₹10,535.99

Therefore, the total interest earned on the RD deposit would be ₹10,535.99.

When it comes to financial planning and safeguarding your future assets, an RD calculator can be a helpful tool. You can benefit from an RD calculator in the following ways:

Financial Planning: An RD Calculator helps plan your financial future by estimating your recurring deposit's maturity amount, facilitating better savings goal setting.

Investment Comparison: It simplifies comparing different RD schemes and interest rates, aiding in selecting the right investment option.

Budgeting: The calculator assists in budgeting by projecting your savings' future value, enhancing wiser fund allocation.

Goal Tracking: Whether it's a vacation or a home down payment, the calculator lets you monitor your progress toward your financial goals.

Smart Decisions: By using an RD Calculator, you can make informed choices regarding investment amount, tenure, and interest rate to efficiently achieve your financial objectives.

RD calculators have several benefits, making them a crucial tool for understanding your finances and making plans. Let's look at the advantages of using Buddy Loan RD maturity calculator:

Ease of Use: RD Calculators are simple to use, requiring only basic inputs like monthly deposit, interest rate, and tenure.

Quick Calculations: They provide quick and accurate results, saving time and effort compared to manual calculations.

Future Planning: They help in planning future savings goals by estimating the maturity value of the investment.

Comparison Tool: They enable comparing different RD plans with varying interest rates and tenures.

Scenario Analysis: They allow experimenting with different deposit amounts and tenures to assess potential returns.

Financial Awareness: They promote financial awareness by illustrating the impact of regular savings and compounding interest.

Free and Accessible: Most RD Calculators are freely available online, making them accessible to a wide range of investors.

Top banks often provide annual RD interest rates that can extend up to 7.5%. For a ₹5,000 recurring deposit amount, you can explore the table below to compare RD returns over one-year and five-year durations, depending on the varying interest rates offered by different banks.

Bank | Recurring Amount | Interest rate for 1 year (p.a.) | Maturity in 1 Year | Interest rate for 5 year (p.a.) | Maturity in 5 Years |
---|---|---|---|---|---|

HDFC Bank | ₹5,000 | 6.60% | ₹62,176 | 7.00% | ₹3,59,667 |

SBI | ₹5,000 | 7.00% | ₹62,312 | 6.50% | ₹3,54,957 |

PNB | ₹5,000 | 6.75% | ₹62,225 | 6.50% | ₹3,54,957 |

Canara Bank | ₹5,000 | 6.90% | ₹62,277 | 6.70% | ₹3,56,830 |

Axis Bank | ₹5,000 | 6.75% | ₹62,225 | 7.00% | ₹3,59,667 |

Apart from banks you can also check post office RD interest rates and open an RD account in post office.

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