About Recurring Deposit (RD) Calculator
Recurring Deposits allow you to save a fixed amount every month and earn interest similar to FDs.
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1.0 Years
M = R [(1+i)^n - 1] / (1-(1+i)^(-1/3))Where:
Inputs:
Deposit = ₹5,000/mo, Rate = 6.5%, Time = 1 Year
Result:
Interest = ~₹2,130
Recurring deposits earn interest on each installment for the period it stays with the bank.