DSP RD Calculator

The DSP Recurring Deposit (RD) calculator is an online tool that allows you to calculate returns from your recurring deposit easily. The calculator performs all the calculations automatically and shows you results immediately. This saves you a lot of time and effort.

A recurring deposit account allows you to deposit a fixed amount regularly for a predetermined tenure. RDs offer flexible tenure options, ranging from 6 months to 10 years. It promotes disciplined savings and is suitable for those with regular income.

How Does The DSP RD Calculator Work?

Below is the formula used by the calculator to calculate your maturity amount.

Where,

M is the Maturity value of the RD
R is the monthly installment credited in the RD
n is the number of quarters in the total tenure
i is the rate of interest divided by 400

Example:

You plan to deposit ₹30,000 every month in an RD scheme for 4 years. The interest rate of the RD scheme is 7.3%. The maturity amount of your RD scheme will be:

M =R[(1+i) n - 1]/1-(1+i) (-1/3)
M = 30,000 x [(1 + 7.3/400) x 4 - 1] / 1 - (1 + 7.3/400) (-⅓)
M = ₹16,75,022

So, if you deposit ₹30,000 every month in an RD scheme for 4 years, offering an annual interest rate of 7.3%, you will earn a maturity amount of over ₹16.75 lakhs. The interest earned by the RD scheme is over ₹2.35 lakhs.

How To Use The DSP RD Calculator?

Koshex offers an easy-to-use RD calculator with a simple yet highly functional interface. You need to follow the below steps to calculate your RD returns.

• Enter your desired monthly investment amount
• Mention the rate of interest offered in the RD scheme
• Use the slider to specify the period of maturity

The calculator will show you the maturity amount and interest earned immediately.

Example:

Ms. Mythili is looking to deposit money every month in an RD scheme. She wishes to deposit ₹44,000 monthly for 7 years. The interest rate offered by the scheme is 8% per annum. By putting the values in the calculator formula, we get:

M =R[(1+i) n - 1]/1-(1+i) (-1/3)
M = 44,000 x [(1 + 8/400) x 7 - 1] / 1 - (1 + 8/400) (-⅓)
M = ₹49,55,826

So, if Ms. Mythili deposits ₹44,000 every month in an RD scheme for 7 years, which earns her an annual interest of 8%, she would earn a maturity amount of over ₹49.55 lakhs. The interest accumulated by the RD scheme would be ₹12,59,826.

Benefits Of Using The DSP RD Calculator

The RD calculator is a very useful tool that can offer the following advantages.

• You can calculate returns from your RD within a few seconds.
• The calculator is very optimized and immune to errors. You will get accurate results every time you use an RD calculator.
• The calculator saves your time and effort by calculating RD returns in a matter of seconds.
• You can compare different RD plans by changing the values in the RD calculator.