Indian Bank RD Calculator

Indian Bank RD Calculator

The Indian Bank RD (Recurring Deposit) Calculator helps you estimate the maturity amount you’ll receive at the end of your deposit tenure. By entering a few simple inputs, you can plan your monthly investments and financial goals with clarity.

How the Indian Bank RD Calculator Works

This calculator computes the final maturity amount and interest earned based on the recurring deposit amount, interest rate, compounding frequency, and tenure. Indian Bank typically compounds RD interest quarterly, aligning with RBI guidelines.

Key Inputs

• Monthly Deposit Amount: The fixed sum you invest every month.
• RD Tenure: The duration of the deposit generally ranges from 6 months to 10 years.
• Interest Rate: Varies by tenure and investor type (general or senior citizen). For Q1 FY 2024–25, Indian Bank offers RD interest rates ranging from 6.25% to 7.25% p.a.
• Investor Type: General or senior citizen (senior citizens may get higher rates).

RD Maturity Formula

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

• M: Maturity amount
• P: Monthly installment
• r: Annual interest rate (in decimal)
• n: Compounding frequency (4 for quarterly)
• t: Total deposit period in years

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

Benefits of Using the Indian Bank RD Calculator

• Quick and accurate estimates
• No manual computation errors
• Helps compare tenures and investment amounts
• User-friendly and free
• Great for goal-based savings planning

Example Calculation

If you deposit ₹5,000 every month for 5 years at an interest rate of 7.00% per annum:

• Monthly Deposit: ₹5,000
• Tenure: 5 years
• Interest Rate: 7.00% p.a.
• Maturity Amount: ₹3,59,133 (approx.)
• Total Interest Earned: ₹59,133

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.