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Savings & Fixed Returns
A Recurring Deposit (RD) calculator helps you forecast the maturity value of your disciplined monthly savings. By depositing a fixed amount into a bank account every month for a specific tenure, you earn compounding interest, safely growing your wealth without market risks.
Unlike a Fixed Deposit where the entire principal earns interest for the full term, in an RD, each monthly installment earns interest for a progressively shorter duration. Typically, banks compound RD interest quarterly.
Maturity Value = Monthly Deposit × [((1 + R/400)^N - 1) / (1 - (1 + R/400)^(-1/3))]
Where R = Annual Rate, and N = Total Quarters