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RD Calculator (Recurring deposit)

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

A recurring deposit is a continuing investment, as investors have to make fixed monthly deposits in RDs. The interest is compounded quarterly and there are many variables involved, making the calculations multipart. RDs are offered by most banks and financial institutions.

How Does An RD Calculator Work?

Our RD calculator works on the below formula:

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

Where,

M is the maturity amount you get
R is the monthly installment you pay in an RD
n is the number of quarters
i is the rate of interest divided by 400

Example:

Mr. Lakshit starts an RD account for an investment of ₹5000 per month for duration of 36 months. He will be earning an interest of 8.0% on his investment. Lakshit will earn a maturity amount of ₹2,03,858.

How Should You Use Koshex RD Calculator?

Please follow the below steps to use the calculator.

Step 1: Enter the monthly amount you would be investing in the recurring deposit
Step 2: Put in the number of years and the expected rate of return
The total value of the investment after the tenure will be calculated within a couple of seconds.

Benefits Of Using Koshex RD Calculator

Some of the advantages of Koshex's FD calculator are as below:

  • The calculator saves time, as you can calculate the maturity amount in a couple of seconds
  • You can plan your investment based on the amount as well as your goals
  • The calculator is accurate, so you will get error-free results

RD Calculator - FAQs

How much amount can I put in the Recurring Deposit (RD)?
You can put in a minimum of ₹500 and thereafter, deposit in multiples of ₹100. You can deposit money from 6 months to 10 years (in multiples of 3 months).
Is TDS applicable on Recurring Deposits?
According to Finance Bill, 2015, effective June 1, 2015, TDS shall apply on the interest earned on recurring deposits. variable recurring deposits etc. TDS is applicable only on the interest earned from fixed deposit / recurring deposit / variable recurring deposit.
Can I deposit different amounts into my RD account every month?
No. You can not deposit a different amount into a regular RD account every month. However, some banks offer flexible RD schemes, where you can deposit multiple times in a month and different amounts based on your savings.
Can I close my RD account prematurely?
Yes. You can close your RD account prematurely and the interest will be paid until the date of closing. Your bank may also charge a penal fee.