Investment
Recurring Deposit (RD) Calculator
Verified Indian financial mathematics, statutory regulations, and step-by-step actionable breakdowns.
Tags:#Recurring Deposit#Monthly Savings#Bank RD
Recurring Deposit (RD)
Fixed monthly savings with bank quarterly compounding
Monthly Deposit₹5,000
Interest Rate (% p.a.)6.8%
Tenure (Months)24 Months (2.0 Yrs)
Invested Amount
₹1,20,000
Total Interest
₹8,829
Maturity Corpus
₹1,28,829
Mathematical Formula & Calculation Engine
Computes compound interest on each monthly deposit based on the exact number of quarters it remains in the bank.
M = P × [(1 + i)^n - 1] / [1 - (1 + i)^(-1/3)]
Why Use the Bank RD?
Enforces monthly savings habit
Interest rate locked for the entire tenure at account opening
DICGC insured up to ₹5 Lakhs
Bank RD FAQs
Yes, premature withdrawal is allowed by banks, subject to a nominal penalty (usually 0.5% to 1%) on the applicable interest rate.
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