RD Calculator

As the name suggests, recurring deposit is a continuous investment that requires an investor to invest money at fixed intervals. The interest calculated on RD is compounded quarterly with various variables involved which can make it difficult for an investor to gauge the returns he can expect on his investment.

The use of an RD calculator eliminates the hassles of doing manual calculations, hence, reducing the time and effort required to do so.

When investing in recurring deposits, it is imperative for an investor to know that RDs are liable for tax deduction. However, not all banks and financial institutions offer this due to which the RD calculator does not take into account the tax calculation part.

Below are a few of the benefits of using an RD calculator

• Provides an idea to the investor on the returns he can expect in the future
• Easy to use, hence, saving time of the investor from doing calculations manually
• Offers accurate results, hence, making it easy for the investor to carry out future financial planning
• Various banks and financial institutions offer different rates of interest on RD investment. Using the RD calculator, an investor can compare the maturity value of different RD investments in just a few seconds.
• The calculator is free to use and the investor can do multiple calculations to calculate returns at various interest rates within different tenures.