Calculate Recurring deposit (RD) investment "Maturity Amount", "Total Deposit Amount", "Total Interest Benefit Amount" and also you can "compare multiple RD options" offered by banks and financial institutions.Best feature of this calculator is that, you can easily compare benefit of various bank by putting its interest rate (per annum), monthy deposit amount and duration of RD deposit (tenure). To Compare RD offer by different bank/institute, just type is name and its interest rate. By clicking on button "Calculate Maturity Amount", it create table of your all input and its result of different bank/institute.

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.

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)

 

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