Calculate interest on recurring deposits.
RD installment calculation is a supplementary and reverse of RD maturity value calculation. This is useful if you have a financial goal to reach in a fixed period of time and want to know what amount to save every month to reach that goal. Here is the formula to find how much you need to save each month to reach your goal (maturity amount) using recurring deposit:-
P = A / [((1+i)n-1) / (1-(1+i)-1/3)]
A = Maturity amount
P = Monthly installment
n = Number of quarters
i = r/4
r = Interest rate in percentage
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.