Recurring Deposit (RD) Calculator
Plan monthly bank savings. Adjust monthly deposits, annual rates, and tenure in months to compute maturity amounts under quarterly compounding rules.
Parameters
Results Summary
This calculator determines the results based on the following standard financial formula for Recurring Deposit (RD):
Variables Glossary
- A
- Maturity value
- P
- Monthly installment amount
- r
- Annual rate of interest (percentage)
- n
- Tenure in months
Calculates the sum of returns for each monthly installment 'P', where each payment compounds quarterly based on its duration 'j' in months.
What is a Recurring Deposit (RD)?
A Recurring Deposit (RD) is a savings tool offered by banks where investors make regular monthly deposits and receive a fixed interest return, helping build disciplined savings.
How is RD interest compounded?
Similar to Fixed Deposits, banks compound RD interest quarterly. The interest is computed on each monthly installment based on the number of months it remains deposited in the bank.