# IDFC First Bank RD Calculator

Loan Amount

Interest rate

%

1%

15%

Loan Duration

Yrs

1 Yr

30 Yrs

EMI

Principal Amount

0

Interest

0

Payable Amount

0

What Is the IDFC First Bank RD Calculator?

A recurring deposit (RD) is a helpful way for people with regular income to save money. It allows you to deposit a fixed amount into your RD account monthly. The best part is that you can earn interest on your deposits! However, knowing the yield of your RD and the final amount you will get can help with financial planning. Angel One has numerous bank-specific RD calculators that can facilitate this calculation. Among them is the IDFC First Bank RD calculator.

This calculator is a user-friendly, reliable tool that offers a convenient way to calculate the interest income and final value of your recurring deposit by entering just the RD amount, tenure, and applicable rate of interest. The quick and accurate calculations help you save time, eliminate the possibility of manual errors, and help you make informed decisions about your RD investments.

How Does the IDFC First Bank RD Calculator Work?

The Angel One IDFC First Bank RD calculator is designed keeping convenience and accuracy in mind and helps get instant estimates. You can input different combinations to determine what is ideal for your financial horizons.

What Is the RD Formula?
• The formula below can be used to calculate maturity value. It is also the IDFC first bank RD calculator formula:
• M = R [(1+i) ^ n-1]/(1- (1+i) ^ (-1/3) )
• Where,
• M is the maturity value,
• R is the monthly deposit amount,
• i is the rate of interest/400
• n is the number of quarters
How To Use the Online IDFC First Bank RD Calculator?

The Angel One online IDFC First Bank RD Calculator is easy to use and provides accurate results. Here are the three simple steps to check the returns on your IDFC First Bank Recurring Deposit:

• Step 1: Go to Angel One IDFC First Bank RD calculator and enter the monthly amount you wish to invest in an IDFC First Bank RD.
• Step 2: Enter the rate of interest.
• Step 3: Enter the investment tenure.

Once all details are entered, the IDFC First Bank RD calculator will display your recurring deposit’s interest and maturity value instantly.

Suppose you wish to invest Rs. 6,000 for 7 years, and the expected annual interest rate is 8%.
Substituting the values in the online IDFC First Bank RD calculator, the interest earned shall be displayed as Rs. 1,71,795, while the future value of the investment will be Rs. 675,795.

Benefits of Using the IDFC First Bank RD Calculator
1. Time-saving and Convenient: The IDFC First Bank RD calculator saves time and effort by quickly calculating the maturity value of your recurring deposit based on a few inputs. Instead of manually performing complex calculations, you can use the online calculator to obtain RD’s interest earned and maturity amount.
2. Financial Planning: The IDFC First Bank RD calculator estimates your expected returns on your recurring deposit. It helps you determine whether your RD investment aligns with your financial goals.
3. Accurate Results: Using the IDFC First Bank RD calculator, you can obtain an accurate and reliable estimate of the maturity value of your recurring deposit. This helps you to plan your finances better.
4. Easy to use: The IDFC First Bank RD calculator is quite simple to use; you just need to enter the required data, and it will calculate the maturity value of your RD to help you plan your finances.
5. Empowered Decision-Making: With the IDFC First Bank RD calculator, you can make informed decisions. You can easily assess different investment amounts and durations to see how they impact your maturity amount and choose what works best.
6. User-Friendly Interface: The IDFC First Bank RD calculator offers a user-friendly interface that ensures a seamless experience. It helps users save time and eliminates the chances of manual errors when calculating their RD investments.

## FAQs

What is the IDFC First Bank RD calculator? The IDFC First Bank RD calculator is a simple and user-friendly tool. It allows users to calculate their recurring deposit (RD) maturity amount based on the monthly investment amount, interest rate and duration.

How to use the online IDFC First Bank RD calculator? To use the online IDFC First Bank RD calculator, enter details like monthly investment amount, interest rate and the investment duration in months. The calculator will then calculate the maturity amount based on the applicable interest rate. The process is simple and quickly estimates your RD maturity amount.

Is the IDFC First Bank RD calculator free to use? The online IDFC First Bank RD calculator on Angel One is free and can be accessed anytime.

What is the minimum amount required to start a bank RD? As of May 2023, you can start investing in an IDFC FIRST Bank RD with a minimum monthly amount of just Rs. 100. This allows you to begin saving and earning interest on your deposits with a small and affordable investment.

What is the interest rate on bank RD for a senior citizen? As of May 2023, senior citizens with IDFC FIRST Bank receive 0.5% more interest on their RDs than other customers.

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