Recurring Deposit Calculator
What is RD Calculator?
An RD Calculator (Recurring Deposit Calculator) is a financial tool used to calculate the maturity amount of a Recurring Deposit (RD) based on the deposit amount, tenure, and interest rate.
Key Features of an RD Calculator:
✔ Accurate Calculations – Instantly computes maturity value and total interest earned.
✔ User-Friendly – Enter deposit amount, interest rate, and duration to get results.
✔ Time-Saving – Eliminates manual calculations and errors.
✔ Financial Planning – Helps investors estimate their savings growth over time.
Formula Used in RD Calculation:
The RD maturity amount is calculated using the formula:
M = P × [(1 + r/n)^(n × t) - 1] / [1 - (1 + r/n)^-1]
Where:
M = Maturity Amount
P = Monthly Deposit
r = Annual Interest Rate (in decimal)
n = Number of times interest is compounded per year
t = Tenure in years
RD calculators are widely used by investors and banks to estimate returns and make informed financial decisions.
