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Edelweiss RD Calculator

₹
%
Mn
Invested amount₹ 30,000
Estimated returns₹ 703
Total value₹ 30,703
Invested amountTotal returns

The Edelweiss Recurring Deposit (RD) calculator is a great financial tool that will help you determine the amount you will receive at the end of your deposit tenure. The tool allows you to compare different RD schemes and plan for your finances better.

An RD is a type of term deposit in which customers can deposit money in installments. When you start an RD scheme, you should invest a fixed sum at regular intervals for a fixed tenure. RDs are both safe and can help generate a regular source of income for many investors.

How Does The Edelweiss RD Calculator Work?

The calculator works based on the below formula.

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

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 are planning to deposit ₹5,500 every month in an RD scheme. The scheme is offering you an interest rate of 6.9% per annum. The tenure of the scheme is 5.5 years. The maturity amount earned by the scheme is:

M =R[(1+i) n - 1]/1-(1+i) (-1/3)
M = 5500 x [(1 + 6.9/400) x 5.5 - 1] / 1 - (1 + 6.9/400) (-⅓)
M = ₹4,41,985

So, if you deposit ₹5,500 every month in an RD scheme, which offers an interest rate of 6.9% per annum for a tenure of 5.5 years, you would earn a maturity amount of over ₹4.4 lakhs. The interest earned by the scheme will be ₹78,985.

How To Use The Edelweiss RD Calculator?

The RD calculator is simple to use. All you need to do is enter the below variables.

  • The monthly deposit amount you wish to deposit in the scheme
  • Rate of interest earned by the RD scheme
  • Tenure of the scheme in months

The calculator will use the details given by you and show you the interest earned and maturity amount immediately.

Example:

Mr. Nalin is planning to deposit ₹28,000 every month in an RD scheme. The interest rate provided by the scheme is 7.2% per annum. The tenure of the scheme is 6.5 years. Here's how we can calculate his maturity amount.

M =R[(1+i) n - 1]/1-(1+i) (-1/3)
M = 28,000 x [(1 + 7.2/400) x 6.5 - 1] / 1 - (1 + 7.2/400) (-⅓)
M = ₹27,87,088

So, if Mr. Nalin deposits ₹28,000 every month in an RD scheme, earning him an annual interest rate of 7.2% for a tenure of 6.5 years, he would earn a maturity amount of nearly ₹28 lakhs. His investment will make an interest of ₹6,03,088.

Benefits Of Using The Edelweiss RD Calculator

There are various benefits of using the RD calculator. Some are:

  • The Edelweiss RD calculator shows you the accurate maturity amount. This can help you plan your finances better.
  • The RD calculator helps you understand how much deposit amount will lead to a particular maturity amount that can help you achieve your goals.
  • The calculator is free to use and you can use it as many times as you want.
  • The calculator will help you compare different RD schemes by updating the variables and seeing which scheme suits you best.

Edelweiss RD Calculator - FAQs

How is the RD interest rate calculated?
The RD interest rate is calculated based on its tenure. It is compounded monthly, quarterly, and yearly based on the type of option you choose. You can use the calculator to see the interest earned by the scheme.
What is the tenure for RDs?
The tenure for RDs generally ranges from 6 months to 10 years.
What are the benefits of RDs?
Fixed returns and little to no risk are some of the benefits of RDs. They can also help investors build the habit of savings and are a good option for conservative investors.