RD Calculator
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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RD Calculator
All you need to know about RD Calculator - Recurring Deposit Calculator
A Recurring Deposit (RD) is a widely used savings tool offered by banks and financial institutions, where you contribute a fixed amount regularly over a set period. This method helps accumulate savings while earning interest on your deposits. Using an RD calculator, you can easily estimate the maturity amount and interest earned, making it simpler to track your investment growth and plan your finances effectively.
What is an RD Calculator?
An online RD calculator, also known as a recurring deposit calculator, is a valuable financial tool that assists you in estimating the maturity amount and interest accrued on your recurring deposit.
The smallcase RD rate calculator performs the necessary computations to calculate the potential maturity value and interest earned by inputting variables such as the monthly instalment, interest rate, tenure, and compounding frequency.
How Can an RD Calculator Help You?
Need to figure out how much your recurring deposit will grow? That’s where an RD calculator comes in. This tool takes your deposit amount, interest rate, and investment period to show you exactly what you’ll get at maturity!.
- Get Accurate Results Every Time: When you feed the calculator your deposit details, amount, interest rate, and how long you plan to invest, it gives you precise numbers. You’ll know exactly what to expect at maturity, which makes planning your finances much easier.
- Anyone Can Use It: The online RD calculator keeps things simple. Enter your basic details, and it instantly shows you either your expected returns or how much you need to deposit monthly to hit your target. No complex steps involved.
- Makes Financial Planning Straightforward: Want to reach a specific savings goal? The calculator shows you two things: what your current deposits will become, or how much you need to save monthly to reach your target amount. This helps you set targets that actually make sense for your situation.
- Costs You Nothing: You can use these calculators online for free. No charges, no hidden fees—just open it and start planning your savings.
Formula for Calculating RD Return
To calculate your RD deposit maturity amount, you need three key numbers. The calculator plugs these into a standard formula to give you the final amount.
Here’s the formula the RD return calculator uses:
A = P*(1+R/N)^(Nt)
| A | Final Amount (Including both principal and compound interest) |
| P | Monthly Instalment (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 |
Each variable represents a crucial part of the calculation.
Let’s see this in action: Say you put ₹5,000 into an RD every month. The interest rate is 6% per annum (compounded), and you invest for 1 year. When you apply the formula (5,000 x (1 + 0.06/4)^(4 x 1)), you get a maturity amount of ₹65,774.
How to Use the smallcase RD Calculator?
The smallcase RD calculator strips away the complexity. This free tool shows you how your investments can grow over time.
Here’s what you do:
Start by picking your preferred RD plan – look at the tenure and interest rates that work for you.
Now you can use the RD return calculator in two ways:
Case 1 – When You Know Your Investment Amount
You’ll need three pieces of information:
- How much you plan to invest
- What returns you expect
- How long you will invest
Enter these numbers, and the RD calculator shows you the potential returns you’ll earn by the end of your investment period.
Case 2 – When You Know Your Target Amount
Here, you provide:
- Your goal amount
- Expected returns
- Investment period
The RD return calculator then tells you exactly how much you need to invest in your RD each month to reach that goal.
Advantages of Using the RD Calculator
- Plan Your Investments: You can play around with different numbers in the RD interest rates calculator, change the monthly deposit, adjust the tenure, or try different interest rates until you find what works best for you.
- Understand the Impact of Compounding: The RD interest rates calculator factors in compounding, so you see exactly how it boosts your investment’s growth over time.
- Time-Saving: Doing these calculations by hand takes forever, and mistakes creep in easily. The RD maturity calculator gives you instant, accurate answers—no hassle involved.
- Goal Setting: You can use it to set concrete financial targets, then work backwards to figure out what monthly deposit and time period will get you there.
An online RD calculator puts you in control of your investment decisions. You can manage your finances more efficiently and get the most out of your recurring deposit investments.
Disclaimer
The results provided by this RD calculator are for illustrative purposes only and are based on the inputs provided by the user, including the monthly or lump sum investment amount, expected rate of return, and the investment time period.
The recurring deposit calculator assumes a constant rate of return and does not account for market fluctuations. Therefore, the actual future value of the investment may differ from the estimated value.
Smallcase makes no representations or warranties regarding the accuracy of the calculator’s results and is not responsible for any errors, omissions, or inaccuracies. The calculator does not consider taxes, fees, or other factors that may affect investment performance.
This calculator and the results generated are not intended as a solicitation to invest or as a recommendation for any particular investment product. Users are encouraged to consult with a qualified financial advisor before making any investment decisions.
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Frequently Asked Questions
Is TDS applicable to an RD?
Yes, TDS (Tax Deducted at Source) is applicable on RD interest income. If the total interest earned on RD exceeds ₹10,000 in a financial year, the bank deducts TDS at the rate of 10%. However, if your total income is below the taxable limit, you can submit Form 15G/15H to the bank to avoid a TDS deduction.
What is the minimum amount to start a recurring deposit account?
The minimum amount required to start an RD account varies from bank to bank. Generally, it can be as low as ₹100 or ₹500. Different banks have different rules and regulations regarding the minimum deposit for RD accounts.
Can I break my RD prematurely?
Yes, you can break your RD prematurely. However, there might be a penalty for doing so, and the interest earned on the RD may be lower than the promised rate. The penalty and conditions for premature withdrawal depend on the bank’s policies and the duration for which the RD was held.
What are the minimum and maximum tenures to open a bank RD?
The minimum and maximum tenures for an RD can vary depending on the bank’s policies. Generally, the minimum tenure can be 6 months, and the maximum tenure can go up to 10 years. Some banks may offer even longer tenures for RD accounts, allowing customers to choose a tenure that suits their financial goals.
How to use the smallcase recurring deposit calculator online?
The smallcase RD Calculator is a free, user-friendly tool to estimate your RD returns. Here’s how to use it:
Choose an RD Scheme: Select your preferred RD scheme based on tenure and interest rates.
Provide Inputs:
- If you know the investment amount, enter the amount, expected return, and time period to calculate potential returns.
- If you know the goal amount, input the goal, expected return, and time period to determine the required monthly investment.
This simple process helps you plan your savings effectively based on your financial goals.
What happens to the RD account upon the death of the account holder?
In case of the death of the sole account holder, the accumulated principal and interest are paid to the registered nominee. If no nominee was designated, the bank will settle the maturity amount with the legal heirs upon submission of the required legal documents (like a Will, Succession Certificate, etc.).
What happens if I miss a monthly RD instalment?
If you miss a scheduled monthly instalment, the bank or financial institution may levy a penalty, which is usually a small fixed amount or a percentage of the overdue instalment. Repeated defaults (e.g., four consecutive missed payments) might lead to the bank prematurely closing the RD account, with the accrued amount paid to you.
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