M = P × n + (P × n × (n + 1) × r) / 2
Where P = Monthly deposit r = Monthly interest rate n = Number of months
Total Investment = Monthly Deposit × Number of Months
Recurring Deposit (RD) is a savings scheme where investors deposit a fixed amount every month for a specified time period and earn interest.
Banks calculate RD maturity value using compound interest based on monthly deposits and the applicable interest rate.
A recurring deposit is a savings plan where investors deposit a fixed amount every month and earn interest on the accumulated balance.
RD maturity value depends on monthly deposit, interest rate and the duration of investment.