A Fixed Deposit (FD) lets you invest a lump sum for a fixed period at a fixed interest rate. A Recurring Deposit (RD) lets you invest a fixed amount every month for a fixed period.
Both are low-risk savings options offered by banks with guaranteed, compounding returns.
Disclaimer : Enter numbers in your local currency — the calculation works the same regardless of currency.
Maturity Value = P × (1 + r/n)^(n × t)
Maturity Value ≈ (P × n) + [P × n(n+1)/2 × (r/1200)]
Where P = Monthly Investment, n = Number of Months, r = Annual Interest Rate