Recurring Deposit (RD) is a popular personal savings scheme offered by banks and Post Office in India- mainly aimed at low income groups/ small investors. Under this scheme, an investor deposits a fixed sum of money at periodic intervals - usually monthly - for a pre determined period - anything from 6 months to 10 years and the Bank / Post Office at the end of the
RD maturity period returns the entire deposits together with the interest earned on such deposits. Interest
on Recurring Deposit is normally compounded at monthly or quarterly frequencies.
You can use RD Calculator to calculate Recurring
Deposit maturity amount for any given values of monthly deposit payment, tenure of
Recurring Deposit and interest rate. The interest compounding frequency can also be selected as desired - Monthly or Quarterly.