RD Calculator
RD Calculation Results
Total Value: ₹0
Invested Amount: ₹0
Estimated Returns: ₹0
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RD Calculator Tips
Discover essential tips and strategies to make the most of your RD Calculator. Understand the benefits of compounding, and how to choose the right funds.
Frequently Asked Questions
- Is TDS applicable on RD?
Yes, TDS (Tax Deducted at Source) is applicable on the interest earned from RD if it exceeds ₹40,000 for individuals and HUFs (Hindu Undivided Families) and ₹50,000 for senior citizens.
- What is the minimum amount to start an RD account?
The minimum amount required to start a Recurring Deposit (RD) account varies from bank to bank. It can range from as low as ₹100 to as high as ₹10,000.
- Can I break my RD before it matures?
Yes, it is possible to break an RD before its maturity. However, banks may charge a penalty for premature withdrawal, and the interest rate paid on the amount withdrawn may also be lower than the original interest rate.
- What is the RD range of tenure?
The tenure or duration of an RD can vary from 6 months to 10 years, depending on the bank and the type of RD account.
What can an RD calculator do for you?
An RD (Recurring Deposit) calculator is a tool that helps you calibrate the maturity amount and the interest earned on an amount invested in the recurring deposit scheme. It is a simple and convenient way to calculate the maturity value of your RD investment based on the amount, interest rate, and tenure.
Formula to determine RD maturity Calculation
M = R [(1 + i)n - 1] / (1 - (1 + i)-1/3)
- Where,
- M = Maturity amount
- R = Monthly instalment amount
- i = Interest rate/400
- n = Number of quarters
