UTI RD Calculator

The UTI Recurring Deposit (RD) calculator shows you the interest you will accrue over your RD tenure. The calculator is a great financial tool in helping you know about the interest and the maturity amount your RD investment will earn you. Thus, the calculator will help you plan your finances better.

An RD refers to a type of scheme where one can deposit a fixed amount of money periodically for a predetermined period. The deposit amount, tenure, and interest rate are finalized at the time of opening the RD account. Generally, RDs are considered to be a safe investment option as they come with zero risks and offer fixed returns.

How Does The UTI RD Calculator Work?

The calculator uses the below formula 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 are planning to deposit ₹6,000 every month in an RD scheme for 7.5 years. The interest rate offered by the scheme is 6.8%. The maturity amount earned by the scheme is:

M =R[(1+i) n - 1]/1-(1+i) (-1/3)
M = 6000 x [(1 + 7.5/400) x 7.5 - 1] / 1 - (1 + 7.5/400) (-⅓)
M = ₹7,04,767

So, if you deposit ₹6,000 in an RD scheme for 7.5 years, offering an interest rate of 6.8%, you will earn a maturity amount of over ₹7 lakhs. The interest earned by the RD scheme is ₹1,64,767.

How To Use The UTI RD Calculator?

The RD calculator is easy to use. Here's a step-by-step guide on how you can properly use the calculator.

• Type in the monthly deposit amount
• Enter the expected rate of interest
• Use the slide to mention the tenure in months

You will get the maturity amount and interest earned instantly.

Example:

Ms. Kamini is planning to start an RD for ₹14,000 every month. The interest rate offered by the RD is 8%. The tenure of the RD is 5 years. Ms. Kamini wishes to know her maturity amount. So, let’s use the calculator formula to calculate her maturity amount.

M =R[(1+i) n - 1]/1-(1+i) (-1/3)
M = 14,000 x [(1 + 8/400) x 5 - 1] / 1 - (1 + 8/400) (-⅓)
M = ₹10,34,066

So, if Ms. Kamini deposits ₹14,000 every month in an RD scheme that offers 8% per annum for an investment tenure of 5 years, she will earn a maturity amount of over ₹10.3 lakhs. She will earn an interest amount of ₹1,94,066 for her investment.

Benefits Of Using The UTI RD Calculator

An RD calculator comes with a plethora of benefits. Here are a few of them.

• The UTI RD calculator provides 100% accurate results.
• The calculator takes only a few seconds to calculate the maturity amount.
• You can use the calculator as many times as you want.
• The calculator allows you to use any permutation or combination of variables.