Calculate Recurring Deposit maturity value easily.
Recurring Deposit is a savings scheme offered by banks where you invest a fixed amount every month for a specific period and earn interest on it. It is ideal for disciplined savings.
In RD, you deposit a fixed amount monthly. The bank calculates interest on your deposits and pays you the total amount at maturity along with interest.
Who can open an RD account?
Anyone with a bank account can open an RD.
Can I miss RD payments?
Yes, but banks may charge a penalty.
Is RD better than FD?
RD is better for monthly savings, while FD is suitable for lump sum investment.