Navi Calculator **RD Calculator**

Monthly Investment

Rate of Interest (P.a)

%

Time Period (Years)

Invested Amount

0

Est. Returns

Total Value

A recurring deposit (RD) calculator is an online tool that helps you quickly determine your RD maturity amount and the total interest earned on it. The online calculator uses the amount to be invested monthly, the term of the recurring deposit, and the interest rate offered on the RD to calculate the maturity amount.

Use Navi Recurring Deposit Calculator to get quick and accurate results. Featuring a user-friendly interface, Navi’s RD calculator is highly responsive.

Calculate your RD maturity amount in a quick and efficient manner with Navi RD Calculator. This would help you understand how much you could earn on your RD investment.

Here’s how to check your recurring deposit maturity amount:

Use the slidebar to select your monthly investment amount

Choose your investment tenure as per your requirement and convenience

Select the interest rate as offered by the issuer

Once done, you would be able to check your final amount upon maturity

The formula to calculate the RD maturity value is:

A = P (1+r/n)^(n*t)

Where A denotes the maturity amount, P denotes the amount invested, r stands for rate of interest, n is the frequency with which compounding occurs (basically, the number of quarters as RD generally compounds on a quarterly basis), and t denotes the number of years.

For example, if your monthly investment is ₹10,000, tenure is 3 years and the interest rate is 5%, upon calculation, your estimated returns would be ₹29,024 on your investment. So, over a total investment of ₹3,60,000, you could get ₹3,89,024 as the total amount upon maturity

The Navi Recurring Deposits Calculator offers the following advantages:

The RD calculator has a user-friendly and intuitive interface

The calculator is designed to provide quick and accurate results

Calculate your maturity amount beforehand to make smarter financial decisions

How does interest on an RD account get calculated?

The compound interest formula calculates the interest on an RD account. Although contributions are required monthly, interest is compounded quarterly.

How do Recurring Deposits (RD) work?

A recurring deposit is a savings account that allows investors to save a small amount of money regularly through monthly contributions for a set period and earn interest on those deposits. When an RD matures, the investor receives a lump sum amount plus interest.

What data is necessary to utilise an RD calculator?

To calculate the maturity value of your recurring deposit, you will have to input the amount you wish to invest monthly, the interest rate you expect to earn, and the tenure for which you want to hold the recurring deposit.

Can I withdraw my recurring deposit before it expires?

Yes, you can cancel your recurring deposit before the period expires. However, you might lose out on the interest that you could have had earned after the maturity period.

Is the recurring deposit interest taxable?

Yes. Individuals will have to pay tax on the interest earned on an RD. However, u/s 80C of the Income Tax Act, they can claim deductions of up to ₹1.5 lakh per fiscal year.
Moreover, a 10% TDS is levied on income generated if the recurring deposit interest earned surpasses ₹10,000.

What minimum and maximum amount can be deposited in an RD?

The minimum and maximum sums that can be invested in a recurring deposit differ depending on the issuer. However, you can check your preferred issuer’s website to see what their criteria are.

What are the consequences if I do not pay my monthly deposit on time?

A one-day delay in your instalment payment will result in either interest or a cash penalty. In either case, your maturity amount will be affected. Some banks have the right to shut down your RD account if you have more than six outstanding payments.

How are recurring deposits and fixed deposit accounts different?

A recurring deposit allows you to invest modest sums of money every month at a predetermined interest rate and term. A fixed deposit account, on the other hand, enables you to invest a large sum of money at a fixed interest rate.

Disclaimer: Navi does not guarantee accuracy, completeness, or correct sequence of any of the details provided therein and therefore no reliance should be placed by the user for any purpose whatsoever on the information contained/data generated herein or on its completeness/accuracy. The use of any information set out is entirely at the User’s own risk.

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