Benefits of Recurring Deposit Calculator

1. Accurate Maturity Amount Estimation:
   The calculator helps you determine the exact maturity amount by considering the deposit amount, interest rate and tenure. This ensures transparency and aids in financial planning.
2. Time-Saving and User-Friendly:
   The tool provides instant results, saving you from manual calculations. Its easy-to-use interface allows anyone to calculate returns without expertise.
3. Modify Planning:
   You can experiment with different deposit amounts, tenures and interest rates to find the best plan that fits your financial goals and budget.

How to calculate the FatakPay RD?

A Recurring Deposit Calculator helps you estimate the maturity amount and total interest earned on your recurring deposit. Here’s how it works:

1. Enter the Monthly Deposit Amount: Input the fixed amount you plan to invest each month.

2. Select the Tenure: Choose the duration of your RD, which typically ranges from 6 months to 10 years.

3. Input the Interest Rate: Enter the annual interest rate offered by the bank or financial institution.

4. View the Results: The calculator computes the maturity amount using the formula for compound interest, giving you an accurate estimate of the total savings and interest earned.

For monthly compounding (the most common case), the formula simplifies to:

M = P × { (1 − (1 + r/4)^-1) / (1 − (1 + r/4)^-n) } × (1 + r/400)

Where:

M (Maturity Amount): Total amount received at the end, including deposits and interest.

P (Monthly Deposit): Fixed amount deposited monthly.

r (Annual Interest Rate): Interest rate (in decimal form, e.g., 6% = 0.06).

n (Compounding Frequency): Times interest is compounded yearly (e.g., 12 for monthly).

t (Tenure): Duration of the RD in years.