Axis RD (Recurring Deposit) Calculator Online

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.

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!

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)

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.

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. 

Here is a table representing the Axis Bank RD interest rates for general citizens and senior citizens. 

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.