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RD Premature Closure Penalty Calculator and Renewal Advisor 2023

Recurring Deposit (RD) Premature Closure Calculator and Renewal Advisor which will help you in calculating the penalty imposed by banks like SBI, ICICI, HDFC etc. during premature closure or withdrawal of your Recurring Deposit (RD) ahead of its maturity. This tool will help anyone looking to prematurely withdraw, close or renew their Recurring Deposits and provide the penalty details, profit/closure on renewal and a recommendation whether you should opt for renewal before maturity or not.

If you are looking for increasing the returns on your Fixed Deposits or Term Deposits, you can go to this post instead. All the inputs are fully customizable. Once you have downloaded it, you can use the same forever and for any number of calculations.

Screenshot of RD Premature Closure Penalty Calculator and Renewal Advisor
Screenshot of RD Premature Closure Penalty Calculator and Renewal Advisor

More than 200 people are using the tool and the associated videos have garnered more than 2 Lakh views on YouTube. This one-of-a-kind tool is not available anywhere on the Internet and is also being used by bankers to do the penalty calculation and provide RD renewal advise. It is an easy-to-use tool and with only 9 inputs, you can calculate the penalty amount as well as get renewal recommendation. Watch the video guide for more details.


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Presentation: 

  • The tool is available as an Excel file with macros. It will work on Mac Excel and Windows Excel.
  • There are 2 Sheets in the Excel with the following steps. A detailed video tutorial is available at the end of this post

RD Premature Closure Penalty Calculator & Renewal Advisor: Read First

This is the end-user license agreement screen. Before you start using this tool, you will have to agree upon this.

Screenshot of User agreement for RD Premature Closure Penalty Calculator & Renewal Advisor
User agreement for RD Premature Closure Penalty Calculator & Renewal Advisor

Step 1: Original Recurring Deposit Details

You need to enter the details of your Original Recurring Deposit.

Screenshot of section to add details about Original Recurring Deposit
Section to add details about Original Recurring Deposit

Step 2: Recurring Deposit Pre-Closure Details

You need to enter the pre-closure related details related to your RD.

Screenshot of section to add details about pre-closure of Recurring Deposit
Section to add details about pre-closure of Recurring Deposit

Step 3: Revised Fixed Deposit Details

If you are looking to pre-close your previous Recurring Deposit and renew it into a new higher interest-bearing RD, then you need to fill the details in this section.

Screenshot of section to add details about renewal of Recurring Deposit
Section to add details about renewal of Recurring Deposit

Step 4: Penalty Calculator and Renewal Advisor

You can view the calculated penalty and the interest related calculations in this section. You will also be able to see the overall benefit or loss you will incur if you choose to pre-close your recurring deposit to open a new one.

Screenshot of calculation section of the RD Premature closure Penalty Calculator & Renewal Advisor
Calculation section of the RD Premature Closure Penalty Calculator & Renewal Advisor

So, if you are planning to pre-close (close ahead of maturity) your ongoing Recurring Deposit and instead planning to create a new one at higher rate of interest, this RD Premature Closure Penalty Calculator and Renewal Advisor will give you the precise information you need to be able to take a decision. If one already had an existing Recurring Deposit at let’s say 5.25% rate of interest and the interest rate now being offered by the banks gets increased to 7.0%, this can lead to extra savings in thousands of rupees, depending on certain considerations.

Download EPM RD Penalty Calculator & Renewal Advisor

This EPM RD Penalty Calculator & Renewal Advisor tool can be used for Recurring Deposits which you may be planning to close before their original closure date. Only 9 inputs will give you the decision taking ability on whether you should pre-close your previous Recurring Deposit or not. More than 200 people are already using the tool including many seasoned bankers.

One-time purchase will give you lifetime access. This one-of-a-kind tool is not available anywhere on the Internet and is also being used by bankers to do the penalty calculation and provide RD renewal advise. Click on this link to download the EPM RD Penalty Calculator & Renewal Advisor Tool for Recurring Deposits.

Please note: – This calculator works well only in Microsoft Excel application. If you are using this calculator by opening it in any other application, some of the features may not work as expected.

(Kindly write to feedback [AT] everypaisamatters [DOT] com if you have any questions).

Also, don’t forget to read how you can avoid paying penalty on your old Fixed Deposit when closing it for renewal (Even Bank Staff don’t know this).

Video Guide

RD Premature Penalty Calculator 2023 || How to Increase Recurring Deposit Interest Returns ?
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