RDCalculator.site

Calculate interest on recurring deposits.

# Recurring Deposit Calculator

Android: Calculate rd interest with this calculator app.

Recurring deposit is a saving plan offered by banks and post offices in India, wherein you deposit a certain amount every month for a fixed tenure, usually six months and longer. Interests on recurring deposits are compounded quarterly and paid on maturity. Interest rates differ from bank to bank and may vary over time.

#### RD Calculation Formula

Here is the formula for calculating recurring deposit given by Indian Banks' Association, which is a simplification of the formula for future value of annuity with monthly payments and quarterly compounding:-

A = P . ((1+i)n-1) / (1-(1+i)-1/3)

where,
A = Maturity amount
P = Monthly installment
n = Number of quarters
i = r/4
r = Interest rate in percentage

#### RDs over different periods

To calculate maturity value and interest earned on recurring deposits with daily/ yearly installments, visit our website for calculating SIP returns.

Disclaimer:- The content of this website does not constitute financial advice and is solely meant for information purpose. The calculations are accurate as per the prescribed formula.