Plan your savings with our RD Calculator. Input your monthly deposit, interest rate, and tenure to get detailed insights into your maturity value, total interest, and growth table – created by Mr. Dhananjoy Ghosh.
What is a Recurring Deposit?
A Recurring Deposit (RD) is a savings scheme where you deposit a fixed amount monthly for a specific tenure, earning interest.
How is RD maturity calculated?
RD maturity is calculated using the formula: M = P × (1 + r/n)^(n×t) for each installment, summed up, where P is the monthly deposit, r is the annual rate, n is the compounding frequency, and t is the time in years for each installment.
What’s the growth table?
It’s a table showing the deposited amount, interest earned, and total value year by year.
Can I use this for different compounding periods?
This calculator assumes quarterly compounding (common for RDs in India). For other periods, results may vary.
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