A fixed deposit/recurring deposit is still one of the best options for short term and mid-term goals. These instruments offer you the benefit of compounding with very low risk. You can open an FD/RD account in any bank or post office.

The rate of return for FD/RD is different in different banks. Even FD/RD of different duration attracts a different rate of return. The interest in FD/RD is compounded quarterly.

Maturity Value Calculator for FD/RD

• To use this calculator you first select the option FD or RD.
• You enter the amount you have deposited (amount of monthly deposit in case of RD)
• Then you enter the time period of the deposit in months
• You then enter the rate of return you are getting.
• You will finally get the maturity amount.