Recurring Deposit (RD) Calculator
Compute maturity proceeds and compound interest earned on monthly bank recurring deposits.
Payable at end of 24 months
24 monthly deposits
Quarterly compounding
Recurring Deposit (RD) Maturity Formula
Computes total maturity proceeds and accumulated compound interest on monthly recurring bank deposits using Indian banking quarterly compounding conventions.
Calculation Steps
- 1Enter regular monthly installment amount P.
- 2Enter annual interest rate and total deposit tenure in months.
- 3Calculate compounding for each monthly deposit from its payment date to maturity.
- 4Sum all accumulated installments to determine total maturity value.
Practical Example
Scenario: Monthly deposit of ₹5,000 for 2 years (24 months) at 6.8% interest
Inputs: Monthly Deposit: ₹5,000 | Tenure: 24 Months | Rate: 6.80% p.a.
Calculation: Total Deposited = 5,000 * 24 = ₹1,20,000 | Maturity Value = ~₹1,28,842
Result: Total Deposited: ₹1,20,000 | Interest Earned: ₹8,842 | Maturity Value: ₹1,28,842
Assumptions & Disclaimers
Key Assumptions:
- Deposits are made punctually on the due date every month.
- Interest is compounded quarterly.
Premature withdrawals or delayed installments may attract penalty interest deductions as per bank rules.
Frequently Asked Questions
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