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GST

Recurring deposit

RD Calculator

Monthly deposits into a bank RD, compounded the way Indian banks actually do it.

Formula

M = R × [(1 + i)ⁿ − 1] / [1 − (1 + i)⁻¹⁄³] where i = r/400 and n is months (quarterly compounding).

About this calculator

Recurring deposits are the bank-account cousin of a SIP — fixed monthly debit, guaranteed rate, taxable interest. Useful for a known near-term goal (wedding, down payment) where you cannot take equity risk.