Recurring deposit interest calculator software

Find out how much you can save by making regular monthly deposits with our Recurring Deposit plan. Just key in the amount you want to save and the tenure you wish to invest for. The RD calculator will give you total savings for the set interest rate. Estimate how much you would need to save for your goal each month. Just select the goal amount and use the slider to select tenure. We will calculate the applicable rate and the amount required to be saved each month. There is also the option of calculating the same through the website of the bank.

Recurring Deposit Calculator is an online tool provided by most banks where users can calculate the maturity amount which they stand to receive on investing in the bank's RD account. Most banks generally provide higher interest to recurring deposit accounts held by senior citizens.

The interest rate on recurring deposits is correlated directly to the prime rate of the RBI. It is compounded and deposited to the account on a quarterly basis. Interest rates can range from 6. RD Calculator. For how long Years. Calculate Returns. Back Expected returns. Formula for Calculating Interest on Recurring Deposit. How to Use RD Calculator?

Recurring Deposit Interest Rates. How is RD calculated? Who can open an RD account? What is the penalty in case of missed payments? I am from Bangladesh and a recurring deposit RD is a very popular scheme in my country, too. Let me now show you how you can calculate your maturity value of the recurring deposits in Excel. It is a good practice to know how the whole thing works of your investment. Never be in the dark when this is about your personal finance. Excel has made our life very easier.

Complexity arises when you make deposits monthly but the Bank compounds your money quarterly or in different periods.

I will make things easier for you. FV function returns the future value of an investment based on periodic, constant payments and a constant interest rate. This is because your money is compounded 4 times per year. So, nominal interest is divided by 4 to get the Rate per Quarter. The following image shows the whole process that I have used to calculate the recurring deposit. In this method, I have used the FV function.

Just remember that your Interest Compounding Frequency must be equal to or greater than the Payment Frequency. Our Recurring Deposit is made Monthly but our compounding frequency is Quarterly or any. Now the rest is simple. I have used the FV function in the cell D17 to the maturity value. We have used the same pmt value, the same rate per period here. But the procedure is direct. Let me explain.