Recurring Deposit calculator gives a rough estimate of future savings based upon your periodic investments, frequency, interest rate and time horizon of investment. It uses the power of compounding to grow your savings. The principal is fixed for 5 years but can be extended by another 5 years.

To park an individual's funds periodically and generate surplus savings on them for a fixed tenure, the Indian Post Office offers recurring deposit options. When opening the Post Office RD Account first time, the individual is required to deposit once into its RD account with the bank. Then it has to make periodic deposits and it can withdraw any money in the account during the tenure of the deposit.

India Post RD Account provides great returns when opening recurring deposit accounts with them, and their savings scheme allows individuals to open a 5-year post office recurring deposit account. The interest rates get revised periodically, and currently, you can earn an interest of 5.8% p.a. The interest gets compounded every quarter and this ensures the sum of money multiplies when it reaches the maturity time.

Use Fintra's Post Office RD Calculator to swiftly calculate your returns or maturity amount generated from Recurring Deposit Accounts.

To accurately calculate the RD maturity amount using our online calculator, you need to input the Monthly Amount Invested, Annual Interest Rate, and Tenure. Hit the 'Submit' button, and the results will instantly be seen beside the calculator.

The benefits of using the Post Office RD interest rate calculator are as follows:

- It's hassle-free and quick to use.
- Instantly calculates results.
- Maturity value is displayed accurately.
- You can plan your deposit accordingly.

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To open RD account, you've to be an Indian resident and HUF (Hindu Undivided Families). Even NRIs can open an RD account through NRO and NRE accounts. Moreover, banks also offer RD scheme for minors under the guardianship of their parents to supervise the finances.

Funds can be withdrawn only on maturity, and if there is an emergency, then you can break the RD before the maturity, however. By doing so, your account will shut. You will have to bear a penalty from the interest accrued on the RD amount for the period the amount was with the bank.

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Upon maturity of the RD account, the individual can request the bank to transfer the principal amount along with the accumulated interest component directly into its linked savings account. One can also invest their RD amount in fixed deposits after maturity.

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Yes, the nomination facility is available in Post Office recurring deposits. Just one nominee per account is permitted, and it should be as per RBI rules. The request for a change in nominee can be done through declaration in an appropriate form.

The other formula to calculate the returns on a recurring deposit is as follows:

**M = R x {(1 + n) x n – 1} / 1- (1 + i) (-1/3)**

Where

- 'R' is the amount deposited per month.
- 'N' is the number of quarters in the tenure.
- 'I' is the rate of interest divided by 400 (for 4 quarters in a year).
- 'M' is the maturity amount.

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