How much will your recurring deposit grow to at maturity? Our RD calculator lets you figure out your maturity value in minutes.
Are you looking for a profit-earning investment by which you can do savings and earn return interest on it? If yes then start investing in Recurring Deposits. A recurring deposit is another type of Fixed Deposit in which you can invest a small amount and earn big interest in return.
What Is Recurring Deposit (RD)
Recurring deposits are a type of savings account where you make regular payments into the account and can earn interest on it
Formula To Calculate Recurring Deposit Interest(RD)
The below formula is used to calculate the interest received on investing in Recurring Deposit.
M = Maturity value
R = Monthly installment
N = Number of quarters
i = Rate of interest
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Features Of Recurring Deposit
- You can start investing with a minimum amount of Rs. 10. This differs from bank to bank.
- 6 months is the minimum tenure of RD and you can extend it to 10 years.
- Investing in Recurring Deposits offers a high rate of interest.
- In some cases, premature withdrawals are allowed but with some penalty.
Benefits Of Investing In Recurring Deposit
- RD investment is very easy to understand for new investors.
- RD investment is available for any term like short, medium, or long.
- In Recurring Deposit you can withdraw the amount at any time.
Recurring Deposit Calculator
A Recurring Deposit calculator helps you to calculate the interest earned on investing in the Recurring Deposit. RD Calculators are easy to use and save time. Munim’s Best RD Calculator is very simple to use.
Advantages Of Using Munim’s RD Calculator
- Accurate Result
- Free for the first 100 users
- Easy to use
What Are The Documents Needed For Recurring Deposit?
- Identity proof
- Passport size photographs
- Bank application form
- KYC documents(if requested by the bank)
- Address proof
What are the eligibility criteria for investing in an RD account?
What is the minimum tenure for RD?
what is the minimum amount allowed to invest in an RD account?
Is the interest earned on RD investment taxable?
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