Financial Planning with RD Calculator

Q: Which documents should you carry for recurring deposits?

For recurring deposits, you should carry the following documents: Identity Proof, Passport size photo, Bank application form, Address proof, and KYC documents if needed.

Q: Is TDS applicable on RD?

Yes, TDS (Tax Deducted at Source) is applicable for all recurring deposits.

Q: What are the benefits of Munim’s RD Calculator?

Munim’s RD Calculator offers several benefits: it provides 100% accurate results, saves time and manual effort, simplifies complex calculations, is free for the first 100 users, and can be accessed from anywhere at any time.

Forecast Your Savings With Our RD Calculator!

Monthly investment

₹

Rate of interest (p.a)

Time period

Invested amount ₹

Est. returns ₹

Total value ₹

What is a Recurring Deposit?

Recurring Deposits, abbreviated as RDs, are similar to fixed deposits (FDs). However, RDs require a fixed deposit monthly, unlike FDs. For working individuals, RDs are regular investments that lead to savings in the long run. These deposits are offered by most of the banks and financial institutions.

How to Calculate RD Interest?

Let’s dive deep into the RD calculations now.

M = P x ((1xr/n)^nt-1 / (r/n))

Where:

M = Maturity Amount

P = Monthly Fixed Deposit

r = Annual interest rate in percentage

n = Compounding frequency (expressed in no. of quarters)

t = Tenure

Features of Recurring Deposit

The investment here starts from a minimum; you can even invest Rs 10 in the initial stage.
The minimum tenure of investment for RD is 6 Months. It can be extended for about ten years.
A high rate of interest accompanies investments in RDs.
Premature withdrawals are allowed in some situations, but a minimum penalty is charged.

Benefits of Recurring Deposit

RDs bring the easiest investment opportunities for new investors.
These investments are available for short, mid, and long terms.
It allows you to withdraw the amount at any time.

Quick Overview of Recurring Deposit Calculator

RD deposit calculator projects the simplest route to compute the maturity value of your recurring deposit. It considers monthly investments and annual interest to compute the maturity amount.

The Recurring Deposit Interest Calculator assists individuals in finding potential returns within a minute. It simplifies complex calculations, making it easier to drive informed decisions.

Why Should You Leverage Our Recurring FD Calculator?

Simplified Financial Planning
Our RD deposit calculator assists in streamlining your financial goals through accurate estimations about the RD.
Save Time
Munim simplifies complex calculations and saves time by displaying the results in seconds.
Accurate Results
Our RD calculator eliminates errors due to manual intervention and offers 100% accuracy in the maturity value of the RD based on the inputs.
Free to use
Munim’s RD calculator doesn’t require any fee and is free to use. Anyone and everyone can leverage it.

3 Easy Steps to Use Our RD Deposit Calculator

1. Monthly Investment
Choose the monthly fixed amount you want to invest in your RD.
2. Rate of Interest
You need to enter the rate of interest applied to the amount per annum.
3, Time Period
Enter the time for which you want to create the RD.

With all the details in place, the calculator immediately displays the invested amount, Return on investment, and the total value.

Perks of our Munim RD Deposit Calculator

You can access our calculator form anywhere and at any time.
It has an easy-to-use interface.
Our customer support team is available 24/7 to assist you.

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Frequently Asked Questions (FAQ)

Which documents should you carry for recurring deposits?

Identity Proof
Passport size photo
Bank application form
Address proof
KYC documents in case needed