Recurring Deposit, otherwise called as RD is a type of term deposit offered by banks in India which help people with regular incomes to deposit a fixed amount every month into their RD account and earn interest for it at an applicable rate to fixed deposits. Here is the RD maturity formula which guides you to calculate the maturity value on your own. As per the Recurring deposit maturity formula to known the rate of interest divide the interest (i) by 400.

Where,

M = Maturity value

R = Monthly Installment

r = Rate of Interest (i) / 400

n = Number of Quarters

The 'R' in the above RD maturity formula denotes the monthly installment and 'r' denotes the rate of interest for the deposit. For instant results, you can try the related calculator which is given below the formula.