Calculate RD Maturity Amount
Results:
Total Deposit: ā¹
Estimated Maturity Amount: ā¹
Total Interest Earned: ā¹
What is a Recurring Deposit (RD)?
A Recurring Deposit (RD) is a type of term deposit offered by banks and financial institutions in which individuals deposit a fixed amount every month for a predetermined tenure. At the end of the term, the depositor receives the total deposited amount along with the interest earned.
Benefits of Using an RD Calculator
- Instantly calculate your RD maturity value
- Compare returns with different deposit amounts or tenures
- Make informed financial decisions
- No manual formula hassleājust plug in and see results
How the RD Calculator Works
This tool uses the compound interest formula where monthly deposits earn interest every month until maturity. The interest is compounded on a monthly basis using the formula:
M = R Ć [(1 + i)n - 1] / (1 - (1 + i)-1)
Where:
M = Maturity value
R = Monthly deposit
i = Interest rate per month
n = Total number of months
Types of RDs Supported
- Bank Recurring Deposits
- Post Office RD Schemes
- Senior Citizen RDs
- Corporate RDs
Frequently Asked Questions (FAQs)
How is interest calculated on an RD?
Interest is compounded monthly and calculated on the monthly deposit amount for the remaining duration until maturity.
Can I break my RD before maturity?
Yes, but premature withdrawal may lead to lower interest rates and penalties depending on the bankās terms.
Is RD better than FD?
FDs are better for lump-sum investments, whereas RDs help build savings gradually with fixed monthly contributions.