Recurring deposit is among the favourite investment avenue for those who are looking to save money in a systematic manner. This could be monthly bi-monthly, quarterly or even half-yearly.
Recurring deposits (RD) are deposits where you can invest a sum each month periodically. This helps to build a corpus at the end of the maturity period. Recurring deposits help you to start your saving with a small amount you are left with at the end of the month.
The schemes are regular monthly deposit ones and so you don't have to fix a lump sum amount in them as you do in case of fixed deposits. Instead, you get a lump sum amount when the deposit matures.
RD calculator is used to calculating maturity earned based on your investment with applicable interest rate. Before depositing amount in an RD account make sure that you have used this online tool RD calculator. RD calculator gives hassle-free online service to check the exact amount of their deposits after the selected relevant period. RD calculator allows the applicants to schedule their future finances with better clarification by providing the exact amount. It is very smooth to use and also investors can save lots of time. Accuracy of this calculator can never be doubted. For prudent financial planning, exact estimates are critical.
To know the exact maturity amount of RD the applicant has to input certain details deposit amount, type of applicant, opening RD date and RD due date.The tool have already mentioned the interest rate applicable on the deposit as per the bank in which applicant has opened the RD account. After filling all the mandatory details click on submit button. And the page will display the total saving amount and interest earned. The investment amount and the interest earned will be shown separately.
M for Maturity amount
R for RD instalment
n for Tenure
I for RD interest rate
Accuracy without any complaint. There is no chance for errors or mistakes in the outcome amount if you have entered all the details correctly.
It is free of cost for all the applicants and can be used as many times you want.
In this busy world, time-saving is the most important factor nowadays. RD calculator is a handy and time-saving tool because it performs the task and shows you the exact result within 30 seconds.