Recurring Deposit (RD) Calculator
Understanding Recurring Deposits (RD)
A Recurring Deposit is a special kind of term deposit offered by banks in India which help people with regular incomes to deposit a fixed amount every month into their RD account and earn interest at the rates applicable to Fixed Deposits.
The Formula
The maturity value of an RD is calculated using this formula:
M = P * (1+R/N)^(N*t) + ... (for each installment)
However, a simpler formula is often used for quarterly compounding:
M = R * [(1+i)^n - 1] / (1-(1+i)^(-1/3))
Our calculator performs these complex calculations for you instantly.