Fixed Deposit (FD) & Recurring Deposit (RD) Calculator
Fixed Deposit (FD) & Recurring Deposit (RD) Calculator
Deposit Calculator
Calculate the maturity value of your Fixed and Recurring Deposits.
Investment Details
Investment Details
About Fixed & Recurring Deposits
A fixed deposit (FD) is a type of term investment offered by several banks and NBFCs. These deposits typically offer a higher rate of interest, subject to certain terms and conditions. The amount you deposit is locked for a predetermined period which can vary between 7 days and 10 years. An RD involves depositing a fixed amount every month for a predetermined period.
How can a Deposit Calculator Help You?
- Calculating the maturity amount of a deposit can be a complicated and time-consuming process. An online calculator enables one to figure it out without hassle.
- Deposit maturity calculations are complex, involving multiple variables. A calculator does all the hard work and gives you accurate figures at the click of a button, saving you a lot of time.
- It enables you to compare the maturity amount and interest rates of deposits offered by different financial institutions, helping you make an informed decision.
The Formula to Determine Maturity Amount
There are different formulas for calculating the maturity for FDs and RDs.
For Fixed Deposit (FD): The calculator uses the compound interest formula to determine the maturity value.
M = P(1 + r/n)^(nt)Where:
- P = Principal Amount
- r = Annual Interest Rate
- t = Tenure in Years
- n = Number of times interest is compounded per year (typically 4 for quarterly)
For Recurring Deposit (RD): The calculator determines the maturity value based on monthly contributions with quarterly compounding.
M = P * [((1 + r)^n - 1) / r]Where:
- P = Monthly Instalment
- r = Interest Rate per quarter (Annual Rate / 4)
- n = Number of Quarters
Frequently Asked Questions
Yes, this calculator is completely free for unlimited use by all visitors.
The calculator provides instant results. As soon as you enter the variables and click the "Calculate" button, the maturity amount and other details will be displayed immediately.
By providing the exact maturity amount you are eligible for at the end of your investment period, you can plan your future financial goals, such as saving for a down payment, education, or retirement, more effectively.
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C.K. Gupta
Hello, I am C.K. Gupta Founder of Taxgst.in, a seasoned finance professional with a Master of Commerce degree and over 20 years of experience in accounting and finance. My extensive career has been dedicated to mastering the intricacies of financial management, tax consultancy, and strategic planning. Throughout my professional journey, I have honed my skills in financial analysis, tax planning, and compliance, ensuring that all practices adhere to the latest financial regulations. My expertise also extends to auditing, where I focus on maintaining accuracy and integrity in financial reporting. I am passionate about using my knowledge to provide insightful and reliable financial advice, helping businesses optimize their financial strategies and achieve their economic goals. At Taxgst.in, I aim to share valuable insights that assist our readers in navigating the complex world of taxes and finance with ease.