Federal Bank Recurring Deposit Calculator

The Federal Bank Recurring Deposit Calculator is a user-friendly digital tool that allows you to quickly calculate the total returns on your recurring deposit investment. Just enter your monthly contribution, interest rate, and deposit tenure, and the calculator will instantly display your estimated maturity amount along with the interest earned. It helps you plan your savings efficiently by providing a clear projection of your future returns, making financial planning easier and more accurate.

Whether you're planning for a future expense or just building a disciplined saving habit, the Federal Bank RD Calculator helps you understand how much you need to invest each month and how your savings will grow — all without the hassle of manual calculations. It’s ideal for individuals looking to make informed financial decisions with clarity and ease.

Benefits of Using the Federal Bank Recurring Deposit (RD) Calculator

The Federal Bank Recurring Deposit Calculator offers several advantages that make financial planning easier and more efficient:

• Convenient Online Access: You can use the calculator anytime and from anywhere, making it highly accessible for all users.
  
• Saves Time and Effort: Manually calculating the maturity amount and interest can be complex and time-consuming. The Recurring Deposit Calculator automates this process, providing quick and accurate results.
  
• Helps in Financial Planning: By inputting different deposit amounts and tenures, you can find the best plan that aligns with your financial goals and saving capacity.
  
• Allows Comparison of Options: The calculator enables you to compare multiple scenarios, helping you choose the most suitable deposit amount and tenure to maximize returns.
  
• User-Friendly Interface: Designed for ease of use, the calculator requires no technical expertise or prior financial knowledge.
  
• Accurate Estimates: It provides a reliable estimate of your maturity amount, helping you plan and save effectively for future needs.

Overall, the Federal Bank RD Calculator is a valuable tool that empowers you to make informed decisions, ensuring your savings grow steadily and meet your financial objectives.

Features & Benefits of Federal Savings Fund (Recurring Deposit Scheme)

The Federal Savings Fund is a smart and flexible recurring deposit option that helps you build a habit of saving regularly with small monthly contributions. It’s ideal for those planning future expenses or saving toward specific financial goals. You can choose the deposit amount and tenure based on your convenience, and even automate your monthly payments with the standing instruction facility. Additionally, a loan can be availed against your RD balance, and you can monitor your deposit anytime through Internet Banking.

Here are the key features of the Federal Bank Recurring Deposit Scheme -

• Low Minimum Deposit – Start saving with as little as ₹50, with further contributions in multiples of ₹10.
• No Maximum Limit – There is no upper limit on the deposit amount, allowing complete flexibility.
• Standing Instruction Facility – Automate your monthly payments directly from your Federal Bank savings account.
• Interest Payout – Interest is calculated quarterly on a compounding basis and paid at the time of maturity. Premature withdrawal of interest is not allowed.
• Loan Against Deposit – Avail a loan against your RD balance, subject to terms and conditions.
• Flexible Tenure – Select a deposit duration ranging from 6 months to 10 years based on your financial goals.

How to Use the Wishfin Federal Bank Recurring Deposit Calculator?

Here are a few Steps to use the Wishfin Federal Bank Recurring Deposit Calculator

• Access the Calculator: Visit the official Wishfin Federal Bank Recurring Deposit Calculator page.
• Enter Your Monthly Deposit: Input the fixed amount you plan to deposit monthly into the Federal Bank Recurring Deposit Calculator.
• Select the Deposit Tenure: Choose the duration of your Recurring Deposit from the available options, typically ranging from 6 months to 10 years.
• Input the Interest Rate: Enter the applicable interest rate for the selected tenure. Federal Bank offers interest rates between 4% and 15% per annum, depending on the deposit term and whether you're a senior citizen.
• Calculate: Click on the "Calculate" button to view the estimated maturity amount and total interest earned.

How does the Federal Bank Recurring Deposit Calculator determine Interest and Maturity Amount?

Federal Bank RD interest is calculated using the Simple Interest method, based only on the principal, not on accumulated interest.

The formula used by the Federal Bank Recurring Deposit Calculator to calculate the interest earned is:

Interest Earned=12×100Monthly Deposit×Interest Rate×Deposit Tenure (in months)​

• Monthly Deposit refers to the fixed amount you contribute each month.
• Interest Rate is the rate offered by Federal Bank, which is usually higher than the savings account interest rate.
• Deposit Tenure is the total duration of the RD in months.

The maturity amount is then calculated by adding the total interest earned to the sum of all your monthly deposits:

Maturity Amount=Total Deposits+Interest Earned

Where,

• Total Deposits = Monthly Deposit × Deposit Tenure (months)

This calculation helps you understand the total amount you will receive at the end of your Recurring Deposit term, allowing you to plan your savings more effectively.

Federal Bank Recurring Deposit Interest Rates

These interest rates apply to recurring deposits below Rs. 3 crore, with senior citizens enjoying a higher rate of interest across all tenures.

Conclusion

The Federal Bank Recurring Deposit Calculator is a convenient and efficient tool that helps you estimate your savings growth effortlessly. By inputting key details like monthly deposit, tenure, and interest rate, you get an instant projection of your maturity amount and interest earned. This calculator simplifies financial planning, enabling you to make informed decisions and achieve your savings goals with confidence.