What is RD (Recurring Deposit)?
A recurring deposit is a special kind of term deposit which help people with regular incomes to deposit a fixed amount every month into their recurring deposit account and earn interest at the rate applicable to fixed deposits.
How is RD Interest calculated?
To calculate RD Interest, you need to use the following formula.
A = P*(1+R/N)^(Nt)
Here, A is the maturity amount in Rs., the recurring deposit amount is 'P' in Rs., 'N' is the compounding frequency, interest rate R in percentage and 't' is the tenure.
How to use RD Calculator?
To use RD Calculator
- Enter Monthly investment
- Enter annual rate of interest
- Enter time period (t) in
- No need to press equal button. (It is automated)
- The final result you will see Interest and Estimated returns.
- To Clear calculations press CE button