Work out recurring deposit maturity instantly with clear inputs, formula shown and shareable results.
A recurring deposit credits interest quarterly, and each instalment earns for a different length of time. The effective yield on money deposited is well below the headline rate because the average balance is only about half the total deposited.
RD maturity
M = Σ d(1 + i/4)^((n-k+1)/3) for each instalment k
Figures are estimates for planning only. Market returns are not guaranteed, and rates, limits and tax rules change. This is not financial or tax advice — speak to a qualified adviser before acting.
The quoted rate applies to each deposit only from the day it is made, and the last deposit earns almost nothing.
Usually, with a rate reduction of about 1 point, so match the term to when you need the money.