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RD CALCULATOR
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RD Calculator
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What is Recurring Deposit(RD) investment?
Recurring Deposit(RD) investment is a type of saving like usual saving account. Different between saving account and RD deposition is that, in RD deposition we have to deposit monthy a fixed amount and withdraw of this is assign with a fixed time duration (tenure). And orher difference is that, RD has usual higher interest rate as compare to saving account interest rate. You can withdraw RD deposition at any time but you have to pay penalty charge if withdrawal is before its maturity time period.
Fixed Deposit/RD Calculator Formula
For rd calculation, variables that we need are
P= principal (one time fixed depost amount)
r= Rate of interest per annum
t= Time duration to keep fixed deposit amunt for maturity (in month)
f= Frequency of calculation or compounding frequency (monthly, quarterly, half yearly and yearly)
= 3 for quarterly
RD Maturity Amount
A = P * ( (1+$i)^$n/f - 1) / (1- (1+$i)^-1/f))
where,
i= ((r/12)/100) * f
i.e. rate per annum is converted to rate per month, rate percentage is converted to rate fraction and multiplied by number of month f (compounding frequency)
For more information, feel free to ask in comment below
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2020-04-15 00:17
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