Axis RD (Recurring Deposit) Calculator Online
Calculate the returns on your recurring deposit investment
Goal Amount
Expected Return (P.A)
Time Period
Summary
To achieve a goal amount of ₹15,00,000 in 10 year(s), and at 5% inflation, you would need to invest ₹9,20,869 at a 10% rate of return.
Summary
To achieve a goal amount of ₹15,00,000 in 10 year(s), and at 5% inflation, you would need to invest ₹9,20,869 at a 10% rate of return.
Total Investment Breakup
Lumpsum Investment
Interest Earned
Total Investment
| Year | Investment Amount (₹) |
Wealth Gained (₹) |
Expected Amount (₹) |
|---|
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Axis Bank RD Calculator
All you need to know about Axis Bank RD Investment Calculator
Recurring deposits provide a stable and reliable way for individuals to invest a fixed portion of their income each month and earn interest. Axis Bank, one of India’s leading banks in terms of market capitalization, offers competitive interest rates on systematic recurring deposits.
This makes it an attractive choice for those seeking stable returns. With the smallcase Axis Bank RD calculator, investors can easily calculate their potential returns and make informed financial decisions.
What is the Axis Bank RD Calculator?
The Axis Bank RD calculator is a handy online tool that computes the interest you can earn from a recurring deposit (RD) scheme. RD maturity amounts are the sum of your monthly deposits plus the interest accrued during the investment period. Interest in RDs compounds quarterly.
Axis Bank offers a range of RD schemes with different tenures, allowing you to choose from periods spanning six months to 120 months. You can start with a minimum investment of just INR 10, and there’s no maximum limit, offering flexibility to suit your financial goals.
This Axis Bank RD calculator by smallcase can help you forecast the interest you’ll earn and estimate your future investment value. It’s a valuable tool for anyone considering or already invested in recurring deposits.
How to use the smallcase Axis Bank RD calculator online?
The Axis Bank RD calculator available through smallcase is known for its ease of use and user-friendliness. It can be utilized by individuals with even basic internet skills.
Now, let’s delve into a simple guide on how to make the most of this user-friendly calculator:
Step 1:
Enter the amount you wish to invest in an Axis Bank RD.
Step 2:
Slide the bar to the expected rate of return that you wish to have
Step 3:
Enter the time period for which you are going to invest in the Axis Bank RD.
Lastly, the smallcase Axis Bank RD Calculator will present you with accurate results in a matter of a few seconds!
Axis Bank RD Interest rate formula to calculate the maturity amount
To determine the maturity amount for an RD, smallcase employs three variables. The Axis Bank Recurring Deposit calculator utilizes a standardized formula to precisely calculate this amount.
Here’s the formula for the Axis Bank RD Calculator:
A = P*(1+R/N)^(Nt)
| A | Final Amount (Including both principal and compound interest) |
| P | Monthly Installment (Initial investment) |
| r | Annual Interest Rate (expressed as a decimal) |
| n | Number of times interest is compounded per year |
| t | Number of years the money is invested for |
The variables symbolize essential elements in this equation.
Let us look at this in form of an example:
Suppose an individual initiates an Axis Bank RD account with a monthly investment of Rs. 5000 for 1 year (4 quarters) at an 8% interest rate. The maturity amount can be calculated using this formula:
A = P*(1+R/N)^(Nt)
= 5000*(1+.0825/4)^(412/12) = 5425.44
= 5000*(1+.0825/4)^(411/12) = 5388.64
= 5000*(1+.0825/4)^(4*1/12) = 5034.14
Summing up the series, the total maturity value (A) amounts to Rs 62,730.85.
Solving this equation manually can be intricate. However, by utilizing the smallcase Axis RD calculator, you can swiftly obtain the precise figure within seconds. Therefore, the maturity value for the RD account investment is Rs. 62,730.85.
Axis Bank Documents and Eligibility for RD Account
The following checklists are essential if you are looking to make an Axis Bank RD account. One is for the documents that will be required, the other is for the eligibility criteria.
Documents Required for an Axis Bank RD Account
- Two recently-clicked passport photos.
- Identification Proof
- Address Proof
- Other KYC documentation.
- Filled in Axis Bank RD Account form.
Eligibility Criteria for an Axis Bank RD Account
- Indian Residents.
- Part of a HUF (Hindu Undivided Family)
- Non-Residential Indians (NRIs) can apply through NRO or NRE accounts.
- Minors can open an account with parental supervision over their finances.
Axis Bank Recurring Deposit Interest Rates
Here is a table representing the Axis Bank RD interest rates for general citizens and senior citizens.
| Tenure | Regular RD Interest Rate | Senior Citizen RD Interest Rate |
| 7 days to 14 days | 3.50% | 3.50% |
| 15 days to 29 days | 3.50% | 3.50% |
| 6 months to less than 7 months | 5.75% | 6.00% |
| 9 months to less than 10 months | 6.00% | 6.25% |
| 1 year to 1 year 4 days | 6.75% | 7.50% |
| 1 year 5 days to 1 year 10 days | 6.80% | 7.55% |
| 13 months to less than 14 months | 7.10% | 7.85% |
| 2 years to less than 30 months | 7.05% | 7.80% |
| 30 months to less than 3 years | 7.00% | 7.75% |
What are the benefits of using the smallcase Axis Bank RD calculator?
Here are some ways the Axis Bank RD calculator can be advantageous to you:
- Easy to Use: Utilizing the Axis Bank RD calculator is a breeze. You simply input your values and receive accurate return estimates.
- Time-Saving: This calculator swiftly computes results, eliminating the need for manual calculations that can lead to errors.
- Accurate Results: The Axis Bank recurring deposit calculator delivers precise figures, reducing the margin for errors.
- Free Tool: Access for the Axis RD calculator is free, allowing multiple calculations for various investment scenarios.
- Financial Planning: Plan your financial objectives effectively with this tool. Making investment planning with the Axis RD calculator is more straightforward.
- Comparison: Easily compare different values to select the most suitable investment scheme for your financial goals.
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Frequently Asked Questions
What is the RD rate at Axis Bank?
The Axis Bank RD Interest rates are demonstrated below in a table.
| Tenure | Regular RD Interest Rate | Senior Citizen RD Interest Rate |
| 7 days to 14 days | 3.50% | 3.50% |
| 15 days to 29 days | 3.50% | 3.50% |
| 6 months to less than 7 months | 5.75% | 6.00% |
| 9 months to less than 10 months | 6.00% | 6.25% |
| 1 year to 1 year 4 days | 6.75% | 7.50% |
| 1 year 5 days to 1 year 10 days | 6.80% | 7.55% |
| 13 months to less than 14 months | 7.10% | 7.85% |
| 2 years to less than 30 months | 7.05% | 7.80% |
| 30 months to less than 3 years | 7.00% | 7.75% |
How is RD maturity calculated in Axis Bank?
In the case of recurring deposits, the maturity sum comprises the total of monthly deposits and the interest accrued throughout the investment duration.
Do Axis Bank RDs come with nomination benefits?
Nomination is accepted in all bank deposits at Axis bank.
Does Axis Bank provide loans against RD?
Yes, Axis Bank can allow you to borrow between 70% and 90% of the recurring deposit.
How are RDs taxed?
TDS with respect to interest earned on your bank RD is deducted based on the total interest projected on the aggregate of your bank RD for the financial year. If PAN is furnished, the rate for TDS (Tax Deduction at Source) is 10%. If not, TDS is 20%
How to use the Axis Bank RD calculator online?
Step 1:
Enter the amount you wish to invest in an Axis Bank RD.
Step 2:
Slide the bar to the expected rate of return that you wish to have
Step 3:
Enter the time period for which you are going to invest in the Axis Bank RD.
Can I withdraw RD at any time?
For early withdrawals from the Axis Bank RD account, a penalty is imposed, which equals 1% less than either the prevailing interest rates or the contracted rate, whichever is lower. However, there is no penalty for withdrawals made within 14 days of opening the RD account.
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