Calculate Recurring Deposit (RD) returns and maturity value. Plan your savings with accurate RD calculations.
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A Recurring Deposit is a special kind of term deposit offered by banks in India which helps people with regular incomes to deposit a fixed amount every month into their RD account and earn some returns.
RD interest is calculated using the compound interest formula. The interest is compounded quarterly or monthly depending on the bank's policy, and the final amount includes both principal and interest.
Yes, you can withdraw RD before maturity, but there may be penalties and the interest rate may be reduced. Some banks allow partial withdrawals after a certain period.