Recurring deposits add the same installment each month; interest typically compounds monthly on growing balance.
The implementation assumes beginning-of-month style buildup consistent with common bank RD calculators.
RD Calculator — key points
- Maturity from monthly installment
- Deposited total vs interest pie
- Adjustable months
Planning use
Good for short, forced-saving goals like annual premiums or travel funds.
- Missed installment policies vary—this assumes uninterrupted payment.
- Compare effective yield to liquid funds if flexibility matters.
Standard RD maturity (monthly)
M = PMT × [ ((1 + i)^n − 1) / i ] × (1 + i) i = annual_rate / 12 / 100, n = months.
Symbols
- PMT — Monthly installment.
- i — Monthly interest rate decimal.
- n — Number of deposits.
Passbook reconciliation
Minor rounding differences vs bank software are normal.
Benefits
- Shows how small monthly sums snowball.
- Interest share visible at maturity.
Frequently asked questions
- Quarterly compounding RD?
- Some banks differ; this follows monthly i from annual APR / 12.
Profitspire Hub publishes educational calculators only. Rates, slabs, and rules change—confirm with fund houses, banks, government notifications, or a qualified professional before acting.