Recurring Deposit Calculator
Plan your Savings
Find out how much you can save by making regular monthly deposits with our Recurring Deposit plan.
Just key in the amount you want to save and the tenure you wish to invest for. The RD calculator will give you total savings for the set interest rate.
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
RD Interest Rate is pre-fixed. It is decided at the time of opening an RD, basis the RD tenure and the RD amount.
Yes, RD interest is taxable.
The RD Calculator calculates the maturity amount beforehand and helps you plan your investment with an ICICI Bank RD.
Both RD and FD are good products for investment. If you have surplus funds lying in your bank account you can opt for an FD. If you want to start by saving a small amount every month you can opt for an ICICI Bank RD.
Yes, interest earned on Recurring Deposits (RD) is taxable. Therefore, TDS is applicable on an RD.
You can start an RD for a minimum period of six months and thereafter increase your investment tenure in multiples of three months. The maximum tenure for holding a Recurring Deposit with us is 10 years.
Open a Recurring Deposit with a minimum of Rs 500 per month and thereafter deposit in multiples of Rs 100.
Does your Recurring Deposit provide you the flexibility to save any amount as per your convenience? Switch to a smarter deposit with ICICI Bank’s iWish Flexible RD.
The data generated herein is completely and solely based on the information/details provided by you in response to the questions specified by ICICI Bank Limited ("ICICI Bank"). These questions and the calculations thereon resulting in specific data are developed and based on certain tools and calculators that are made available to ICICI Bank and are based on pre-determined presumptions/assumptions. ICICI Bank, while providing and developing these tools, has relied upon and assumed, without independent verification, the accuracy and completeness of all information made available to it from public / private sources and vendors or which has otherwise been reviewed by ICICI Bank.
Such information and the resultant data is provided only for user's convenience and information purposes. ICICI Bank does not guarantee accuracy, completeness or correct sequence of any the details provided therein and therefore no reliance should be placed by the user for any purpose whatsoever on the information contained / data generated herein or on its completeness / accuracy. The use of any information set out is entirely at the User's own risk. User should exercise due care and caution (including if necessary, obtaining of advise of tax/ legal/ accounting/ financial/ other professionals) prior to taking of any decision, acting or omitting to act, on the basis of the information contained / data generated herein. ICICI Bank does not undertake any liability or responsibility to update any data. No claim (whether in contract, tort (including negligence) or otherwise) shall arise out of or in connection with the services against ICICI Bank. Neither ICICI Bank nor any of its agents or licensors or group companies shall be liable to user/ any third party, for any direct, indirect, incidental, special or consequential loss or damages (including, without limitation for loss of profit, business opportunity or loss of goodwill) whatsoever, whether in contract, tort, misrepresentation or otherwise arising from the use of these tools/ information contained / data generated herein.
Nothing contained herein shall amount to an offer, invitation, advertisement, promotion or sponsor of any product or services of ICICI Bank/third party and is not intended to create any rights or obligations. The use of this information is subject to the terms and conditions governing such products, services and offers as referred herein above and specified by ICICI Bank/third party from time to time and applicable laws .The information contained / data generated herein may be subject to change, updation, revision, verification and amendment without notice and such information/data generated may change materially. User cannot distribute, modify, transmit, reuse, report, or use the contents available for public or commercial purposes, including the text without ICICI Bank's written permission. The information and/ or intellectual property contained herein is strictly confidential, meant solely for the selected recipient, and may not be altered in any way, nor transmitted copied or distributed in part or in whole to any other person or to the media, or reproduced in any form without prior written consent of ICICI Bank or the relevant owner of the intellectual property as the case may be. "ICICI Bank" and "I-man" logos are the trademark and property of ICICI Bank Limited.