BOI RD Calculator

BOI RD Calculator (Bank of India Recurring Deposit)

The BOI RD Calculator helps you estimate the maturity amount and interest earnings from your recurring deposit with the Bank of India. By entering your monthly deposit amount, tenure, and interest rate, you can get a clear picture of your future savings.

How the BOI RD Calculator Works

The calculator uses the compound interest formula (compounded quarterly) to estimate the total maturity value of your RD. Your input:

• Monthly Deposit Amount: The fixed amount you plan to invest every month.
• Tenure: Duration of the RD in months or years (usually 6 months to 10 years).
• Interest Rate: The applicable interest rate for the selected tenure is based on current Bank of India RD rates.

Formula Used

M = P × [(1 + r/4)⁴ⁿ] × [(1 + r/4)^–1/3 ÷ ((1 + r/4)^1/3 – 1)]

• M: Maturity amount
• P: Monthly installment
• r: Annual interest rate (in decimal)
• n: Number of years

Note: Interest is compounded quarterly as per Bank of India norms.

BOI RD Interest Rates (as of Q1 FY 2024–25)

These rates are indicative and may change. Please check with BOI for the latest.

Benefits of Using the BOI RD Calculator

• Instant Results: No need for manual calculations.
• Accurate Projections: Helps you plan your savings effectively.
• Flexible Inputs: Adjust tenure and deposit to match your goal.
• Senior Citizen Support: Estimate earnings using senior rates.

Disclaimer : The results given by the above calculator are for illustration purpose only. They are often based on a number of assumptions. The results given are in no way any guarantee of the returns that will be given. Investments in stock markets and securities markets are subject to market risks and other risks. There is no guarantee of the return that will be actually given. Investment in other financial products may also be subject to market risks and other risks. There is no guarantee of the returns that will be given by them. The calculator also does not make any recommendation directly or indirectly. Please consult a registered Financial Advisor before taking any investment decision.