What is recurring deposit calculator?

A recurring deposit calculator is a tool that helps calculate the maturity value of a recurring deposit account, where the account holder deposits a fixed amount of money at regular intervals (such as monthly) for a specific period of time, and earns interest on the deposits made. Recurring deposits are a popular investment option for people who want to save a fixed amount of money every month and earn interest on their savings.

To use a recurring deposit calculator, you typically need to enter the monthly deposit amount, the interest rate, the tenure of the deposit, and the compounding frequency. The calculator will then use the compound interest formula to calculate the maturity value of the deposit account at the end of the tenure, including the principal amount and accumulated interest earned.