Equitas Small Finance Bank RD Calculator

Equitas Small Finance Bank RD Calculator

The Equitas Small Finance Bank RD Calculator is a simple tool that helps you estimate the maturity amount of your Recurring Deposit (RD) based on key inputs like monthly deposit, interest rate, and tenure. It enables you to plan your savings and returns efficiently by providing accurate results within seconds.

How the Equitas RD Calculator Works

Recurring Deposits (RDs) are fixed monthly investments made over a predetermined tenure, earning compound interest quarterly. This calculator uses the compound interest formula to compute the maturity value.

Formula Used

Maturity Amount = P × [(1 + r/n)^nt – 1] ÷ [1 – (1 + r/n)^–1/n]

• P: Monthly deposit
• r: Annual interest rate (in decimal)
• n: Compounding frequency (4 for quarterly)
• t: Tenure in years

Key Inputs Required

• Monthly Deposit Amount: Minimum ₹1,000 and in multiples of ₹1
• Tenure: Ranges from 6 months to 10 years
• Interest Rate: Varies as per the latest bank offerings; as of Q1 FY 2024–25, Equitas Small Finance Bank offers RD interest rates between 6.00% to 8.25% p.a. depending on the tenure and investor type (general/senior citizen)
• Customer Type: Choose between regular and senior citizens to get applicable rates

Benefits of Using the Calculator

• Accurate Estimations: Helps you understand the exact maturity value of your RD
• Quick and Easy: Instant results without manual computation
• Goal Planning: Allows you to plan for short- or long-term savings goals
• Comparison Tool: Helps you compare RD returns with other banks

Example Calculation

If you invest ₹5,000 per month for 3 years at 8.00% p.a. interest rate:

• Monthly Deposit: ₹5,000
• Tenure: 3 years
• Interest Rate: 8.00%
• Estimated Maturity Amount: ₹2,01,664 (approx.)

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.