IDBI Bank Recurring Deposit Calculator

The IDBI Bank Recurring Deposit (RD) Calculator is an online tool that helps you estimate the maturity amount and interest earned from your recurring deposit investment with IDBI Bank. It is particularly useful for customers enrolled under IDBI's Systematic Savings Plan (SSP)—a flexible savings option tailored for individuals who prefer to save regularly from their monthly income.

What Is the IDBI Systematic Savings Plan (SSP)?

The IDBI Systematic Savings Plan (SSP) is a recurring deposit scheme that lets you save conveniently and consistently. With SSP:

• You can start saving with as little as ₹500 per month.
• The monthly investment can go up to just under ₹2 crore.
• The fixed amount you decide will be automatically debited monthly from your IDBI savings account.
• It encourages financial discipline while allowing you to build a corpus over time at competitive interest rates.

How the IDBI Recurring Deposit or SSP Calculator Helps?

The IDBI Recurring Deposit Calculator computes your total maturity amount and interest earned based on:

• The monthly deposit amount (starting from ₹500),
• The tenure (typically 6 months to 10 years),
• The prevailing RD interest rate (varies with market and policy conditions).

It uses a compound interest formula with quarterly compounding—standard for Indian RD schemes—to project the accurate maturity amount.

IDBI Bank Systematic Savings Plan Plus (SSP Plus)

The Systematic Savings Plan Plus (SSP Plus) by IDBI Bank is a recurring deposit scheme that combines disciplined savings with safety and added protection. It not only ensures regular savings with principal and interest protection but also offers a complimentary personal accident insurance cover.

Key Features of IDBI SSP Plus

• Complimentary Insurance : Offers a personal accidental insurance cover of up to ₹5 lakhs at no extra cost.
• Flexible Contribution Options: The minimum monthly deposit starts at ₹5,000 and can be increased in increments of ₹100.
• Tenure Options : Minimum eligible tenure is 3 years (in completed quarters), with a maximum tenure of 10 years.
• Eligibility : Available to individual residents and Hindu Undivided Families (HUFs).

The SSP Plus plan is ideal for those looking to grow their savings systematically over time, while also availing the benefit of additional insurance coverage without any extra premium. It aligns with both short- and long-term financial goals, ensuring safety, returns, and protection in one plan.

Key Benefits of IDBI Recurring Deposit Calculator

• Convenient & Accurate – Just input your amount, tenure, and interest rate to get results instantly.
• Ideal for SSP Planning – Especially helpful for planning your savings under IDBI’s SSP.
• Supports Financial Goals – Whether you're saving for a vacation, emergency fund, or future investment, it helps you track progress.
• Free & Accessible – Available online, 24/7, for easy financial planning.

How to Use Wishfin IDBI Bank Recurring Deposit Calculator?

Using the Wishfin IDBI Bank Recurring Deposit Calculator is a straightforward process that allows you to estimate the maturity amount of your recurring deposit based on your monthly investment, tenure, and applicable interest rate. Here's how you can use it:

Steps to Use the Wishfin IDBI Bank RD Calculator -

• Access the Calculator: Navigate to the Wishfin IDBI Bank Recurring Deposit Calculator page.

• Enter Monthly Investment: Input the amount you plan to deposit monthly. The calculator accepts amounts starting from ₹500 up to ₹10 lakhs.

• Specify the Interest Rate: Enter the annual interest rate applicable to your RD. This rate typically ranges between 1.0% and 15.0%.

• Select Tenure: Choose the duration of your RD investment. You can specify the tenure in months or years, ranging from 1 year to 10 years.

• View Results: After entering the above details, the calculator will display

1. • Invested Amount : The Total amount you will have deposited over the chosen tenure.
   • Estimated Returns : Interest earned over the investment period.
   • Total Maturity Value : Sum of the invested amount and the estimated returns.

How to Calculate Compound Interest on an IDBI Bank Recurring Deposit?

While the IDBI Bank Recurring Deposit Calculator is the easiest way to estimate your returns, you can also calculate the maturity amount manually using the compound interest formula typically used for recurring deposits.

Formula for IDBI Bank Recurring Deposit Maturity Amount:

M=R×1−(1+i)−1/3(1+i)n−1​

Where:

• M = Maturity Amount
• R = Monthly deposit amount
• n = Total number of months (tenure of the RD)
• i = Quarterly interest rate (i.e., Annual interest rate ÷ 4 ÷ 100)

Explanation:

• Since interest is compounded every quarter, the annual interest rate is divided by 4.
• The formula accounts for compounding frequency and monthly contributions.
• This method helps estimate how much your RD will grow over time, considering compounding effects on each monthly installment.

IDBI Bank Recurring Deposit Interest Rates (2025)

The interest rates for recurring deposits under both the IDBI Systematic Savings Plan (SSP) and SSP Plus vary based on the tenure of the investment and the depositor category (general or senior citizen).

Note : The above interest rates are effective from May 16,  2025, and are subject to change as per IDBI Bank’s prevailing policies and regulations.

Conclusion

The IDBI Bank Recurring Deposit Calculator is a valuable tool for anyone looking to build disciplined savings through the Systematic Savings Plan (SSP) or SSP Plus. It simplifies the process of estimating your maturity amount, helps you choose the right tenure and deposit amount, and ensures you make informed financial decisions. Whether you are a salaried individual, self-employed, or a senior citizen planning long-term savings, this IDBI Bank Recurring Deposit Calculator provides clarity and confidence in your investment planning, making sure that each rupee you save now effectively supports your future financial objectives.