What is RD?
A Recurring Deposit (RD) is a fixed-tenure scheme where you deposit a set amount each month and earn quarterly compounding interest. Each monthly deposit earns interest for the remaining tenure.
Formula
Each monthly instalment is compounded for the time remaining until maturity, then summed:
M = Σ P × (1 + r/4)^(q) P = monthly deposit r = annual interest rate (decimal) q = (months remaining to maturity) / 3 sum over all months
How to use this calculator
Enter your monthly deposit, the bank's RD interest rate, and the tenure in months (typical RDs run 6 months to 10 years). Maturity and interest earned update instantly.