Monthly investment

₹

Rate of interest (p.a)

%

Time period

Years

Invested amount | ₹ |

Est. returns | ₹ |

Total value | ₹ |

Total investment

Total interest

RD ALTERNATIVE

RD is a good savings habit that meets your desire for consistent saves for a certain period of time while generating rewards. In a recurring deposit account, you typically save a set amount of money every month for a set period of time. IDFC FIRST Bank provides RD accounts for a variety of time periods ranging from 6 months to 10 years. Your RD account generates interest at different rates depending on how long you keep the RD.

You may save as little as Rs. 2,000 per month, or as much as Rs. 75,000 per month if you can afford it. You can save for as little as 6 months and as much as 10 years or 120 months. Every quarter, your monthly deposits to the recurring deposit account receive interest on the cumulative deposit. IDFC Bank RD provides an interest rate that is relevant to various deposit periods. As you can see, based on your needs, you may save for any length of time. For example, you may use the recurring deposit calculator to compute the total amount, including interest, that you would receive over a given period of time.

Also Read, **IDFC FIRST Bank RD Rates**

The IDFC RD calculator computes the maturity value of your deposit amount based on the specified interest rate and compounded quarterly. The number of recurring deposits, RD interest rates, deposit duration, and interest compounding frequency all contribute to the RDs’ maturity amount at the end of the period. A consumer thinking about getting an RD can use the RD calculator IDFC to:

– Develop an efficient recurring deposit plan investing strategy.

– The time period for which he/she wants to or is able to make the investment.

– Set up a few different interest rates to get the ideal one for you.

– The total amount he or she will get upon maturity or after the tenure of the investment.

If you select the periodic interest payment option, IDFC Bank will transfer the interest produced at each interval (say, quarterly) to your bank account. The interest rate would remain consistent during the term of the deposit. At maturity, unless the deposit is renewed, the principal amount of the RD is transferred to your bank account. When you pick an IDFC Bank recurring deposit, you will get a credit for the principal as well as the interest earned net of TDS upon maturity. You may calculate the RD maturity amount using the IDFC RD interest rates calculator.

The following actions must be taken by a user or a client while utilizing the calculator.

**Step 1: **Enter the amount you want to invest in the RD each month.

**Step 2: **Next, input the interest rate.

**Step 3: **Finally, in the third and last step, you can specify the number of years or months you want to carry out the program.

After entering the above-mentioned information, you will be able to view your final earnings in the plan on the calculator. You may see your total RD investment, total interest earned, and maturity value.

Here is the formula used by the digital calculator:

M = R[1+in-1]1-(1+i)-13

They stand for;

- R for the monthly installment
- N for the number of quarters
- M for the value at maturity
- i for the rate of interest

Here’s an example to help illustrate the point of the IDFC bank RD calculator:

If you want to invest Rs. 5000 per month for two years, and the bank provides you a 4.5% interest rate the RD may be computed as follows:

M = 4.5[1+50-1]1-(1+5)-13

The amount is Rs. 1,25,765

Customers who want to start investing in recurring deposits for a better investment strategy and financial quotient can benefit from using the IDFC First Bank RD calculator. The following are some of the most popular advantages of using the IDFC First Bank RD Calculator.

– It is a free digital tool that may be utilized to get quick returns for an RD investment.

– Groww allows you to access it from anywhere and at any time.

– Without having to wait or do the arithmetic yourself, you can rely on the precise results.

– You do not need to seek assistance in calculating your investment’s maturity value.

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