RECURRING DEPOSIT RETURNS CALCULATOR

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With the Recurring Deposit Calculator, you can calculate the interest earned at the time of maturity of a Recurring Deposit. ICICI Bank offers one of the best Interest Rates on a Recurring Deposit. Go ahead and use ICICI Bank’s RD Calculator to plan your investments with us.

You can use the RD Calculator in a few simple steps:

• Select the type of deposit i.e. Senior Citizen or Normal RD
• Select the monthly amount you would like to invest
• Select the tenure of your Recurring Deposit
• You can vary the amount and tenure as per your convenience
• You will see the calculated amount after you fill in all the details.

Interest on the Recurring Deposit is compounded quarterly. The following formula can be used to calculate the RD Interest Rate:

M = R[(1+i)^n-1]/(1-(1+i)^(-1/3) )

In the above equation,

M = Maturity Value

R = Monthly Instalment

n = Number of Quarters

I = Rate of Interest/400

So, if you invest in an RD with Rs 5,000 per month for a year at an Interest Rate of 8%, your total value is calculated as:

R = 5,000

n = 4 (one year has four quarters)

I = 8.00/400

M = Rs 62, 647 in one year