# Recurring Deposit Interest Calculator

Estimate your maturity value earned on Recurring Deposit schemes and evaluate the interest earned if you invested.

##### Quick calculation of your Recurring Deposit
• Type of Customer:

• Prompt for Slider or enter in numbers

• Regular Monthly Deposit:

500
10L
20000

Savings Term

• Year:

0
10
0
• Tenure (months):

0
9
6
##### Maturity Details

Maturity Value

###### 5,003
• Maturity Date
• Aggregate Interest Amount ₹3
• Rate of Interest (%) 3
• Note: This is an approximate value. The final value may differ.
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• How is the Recurring Deposit (RD) calculated?

Similar to a fixed deposit, a recurring deposit (RD) is a type of savings instrument. An RD, on the other hand, requires monthly deposits, whereas a fixed deposit only requires a single investment. Like a fixed deposit, you can earn regular returns with a recurring deposit. Manual RD return calculation is possible, but it can be challenging. This is when an RD calculator can be of immense help.

• How to use a Recurring Deposit (RD) calculator?

For instance, when you use the Bank of Baroda Recurring Deposit Calculator, you must enter your monthly deposit amount and tenure (in years and months). Once you do so, the calculator will show you your total savings and interest earned within seconds.

You will also get a graphical representation of your recurring deposit for better understanding.

• How to calculate the Recurring Deposit (RD) maturity amount?

If you want to calculate the maturity amount you receive via a Recurring Deposit, you can apply the following formula:

A = P*(1+R/N) ^(Nt),
wherein,

 A is the maturity amount P is the monthly deposit R is the rate of interest N is the compounding frequency (number of quarters since RD interest is compounded quarterly) t is tenure

You can fill in the variables in this formula to calculate the RD maturity amount.

• How to calculate Recurring Deposit interest?

It is a compound formula that calculates the interest on RD. The formula goes like this:

M =R [(1+i) n – 1]/1-(1+i) (-1/3)
Where:

 R is the monthly RD instalment n is the number of quarters (tenure) I is the rate of Interest/ 400 Where M is the maturity value of the RD
• What is the minimum monthly instalment amount needed to invest in a bank RD?

Yes, fixed deposit accounts do earn interest every month. You can select how you would like to receive payouts in addition to the Fixed Deposit's terms, such as the tenure and investment amount. You can typically choose between receiving payouts annually, semi-annually, quarterly, or monthly with FDs. To receive interest each month, choose the option for a monthly payout.

• Will I have to pay a penalty if there is a delay in the monthly deposit?

Yes, there is a penalty if you don't pay the required monthly deposit on time for your RD. Your bank's policies will determine the fine assessed and the related guidelines. Thus, it is better to check your bank’s terms and conditions for the same.

For instance, Bank of Baroda charges Rs 1.00 for every Rs 100 pm for any period of deposit if you miss the deadline for your RD deposit.

Note: If the instalment payment is made in the following month, there shouldn't be any penalties.

• Is the interest that is generated from the RD account taxable?

Interest earned via RDs is taxable according to the tax slab that you fall in.

The rate of TDS is as mentioned below:

 Nature Rate of TDS When TDS is applicable Payment to a resident depositor who has furnished his PAN to our Bank 10% If total interest paid/credited to the Customer exceeds Rs.40, 000 /- during a financial year and in the case of Senior Citizens if interest paid/credited exceeds Rs. 50,000. Payment to a resident depositor who has not furnished his PAN to our Bank 20%

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