# IDBI Bank RD Calculator

Monthly Investment

Interest rate

%

1%

15%

Duration

Yrs

1 Yr

30 Yrs

The future value of investment will be

Invested Amount

0

Estimated Return

0

What is the IDBI Bank RD Calculator?

Indian banks offer many saving schemes to the general public. Of many schemes, RDs enjoy high popularity. RD or Recurring Deposits are savings schemes that allow you to deposit a predetermined amount monthly. These schemes enjoy higher flexibility than regular FDs and can be started with a nominal amount. The returns depend on your investment amount, interest rate, and tenure. An IDBI Bank RD calculator is a simple online tool that helps you determine the maturity amount and interest earned at the end of the RD tenure

With the help of the IDBI Bank RD calculator, you can estimate your RD returns in seconds and plan your savings accordingly. To use it, you just need to enter the intended deposit amount, the duration of the account, and the current interest rate that IDBI Bank is now offering.

How Does a IDBI Bank RD Calculator Work?

An RD calculator calculates the maturity amount and interest earned at the end of the RD tenure. Online RD calculators are user-friendly and provide accurate estimates in seconds. Here’s how an RD calculator works:

• Enter the installment amount
• Next, enter the applicable interest rate
• Enter the tenure (in months)

And that’s it! The RD calculator will display the estimated interest earned and maturity amount at the end of the tenure.

What Is the IDBI Bank RD Calculator Formula?

You can use the formula given below to calculate RD. It is also the IDBI Bank RD calculator formula:

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

Where,

M = Maturity value

R = Monthly investment

n = Number of quarters

i = Interest Rate/400

How To Use the IDBI Bank RD Calculator Online?

To use the IDBI Bank RD calculator online, follow these steps:

• Enter the amount you intend to put into the recurring deposit account
• Enter the appropriate interest rate for the recurring deposit
• Input the duration in years

Once you enter this information, the online IDBI Bank RD calculator will evaluate the data and present an estimate of the maturity amount and interest you will earn.

Suppose you wish to invest Rs. 5,000 per month for 2 years, and the expected annual interest rate is 8%. Substituting the values in the online IDBI Bank RD calculator, the interest earned shall be displayed as Rs. 10,456, while the future value of the investment shall be Rs. 1,30,456.

Benefits of Using a IDBI Bank RD Calculator
• Accuracy: The online RD calculator ensures accurate and error-free results by removing human biases.
• Time-saving: The RD calculator automates the maturity and interest amount calculation, saving time and labour compared to manual calculation.
• Planning and decision-making: Using the RD calculator, you can compare various combinations and permutations of the deposit amount, tenure, and interest rate. This can help you plan your finances better.
• Setting financial goals: The calculator can help you determine how much you need to save each month and estimate the time it would take to accomplish those goals.

## FAQs

What is the IDBI RD calculator? The IDBI RD calculator is an online tool that helps you calculate your RD maturity amount and interest earned.
How to use the online IDBI Bank RD calculator? Visit the IDBI Bank website or mobile app to access the online IDBI Bank RD calculator. Enter the monthly deposit amount, deposit term, and applicable interest rate. Once done, you will automatically get an estimate of the maturity and interest amount.
Is the online IDBI Bank RD calculator free to use? Yes, using the online IDBI Bank RD calculator on the Angel One website is free. You can use it on your mobile phone or computer to instantly calculate your RD returns.
What is the minimum amount required to start a bank RD? The minimum amount required to start a Recurring Deposit (RD) can vary depending on the bank's specific policies. Check with the particular bank you are interested in to determine their minimum RD amount.
How do you calculate the RD maturity amount? The calculation of RD maturity amount uses the mathematical formula M = R[(1+i)^n-1]/(1-(1+i)^(-1/3) ), where M is the maturity amount, R is the amount of monthly investment, n is the number of quarters, and i is the interest rate/400. Users can use an online calculator to avoid doing these complex calculations manually.

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