IDBI Bank RD Calculator

Plan Your Savings with the IDBI RD Calculator

The IDBI Bank Recurring Deposit (RD) Calculator helps you estimate the maturity amount and total interest you will earn by regularly saving a fixed amount every month. It’s a simple and effective tool to plan your financial goals with precision.

By entering the monthly deposit amount, Tenure, and applicable interest rate, you can calculate how much your investment will grow over time without manual calculations.

How the IDBI Bank RD Calculator Works

The calculator uses a compound interest formula (compounded quarterly) to determine the maturity amount. IDBI Bank, like most Indian banks, compounds RD interest every quarter.

Formula Used

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

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

Note: The formula accounts for monthly contributions and quarterly compounding.

Key Inputs

• Monthly Deposit Amount: The fixed amount you intend to deposit every month.
• Tenure: Duration of the RD, typically ranging from 6 months to 10 years.
• Interest Rate: The prevailing RD rate offered by IDBI Bank (as of Q1 FY 2024–25, it ranges from 6.25% to 7.25% p.a., depending on the Tenure and customer type).

Benefits of Using the IDBI RD Calculator

• Instant Estimates: Get accurate results in real-time.
• Goal Planning: Align your RD with future financial targets.
• No Manual Errors: Eliminates the risk of miscalculation.
• Flexible Usage: Adjust deposit and Tenure to compare different outcomes.
• Mobile Friendly: Use it anywhere, on any device.

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.