RD calculator

How this is calculated

A = Σ_{k=1..N} R × (1 + r/400)^((N − k + 1)/3). When N is a multiple of 3 this equals R × [(1 + i)^(N/3) − 1] ÷ (1 − (1 + i)^(−1/3)), i = r/400.

Worked example

₹5,000 a month at 6.7% for 60 months.

Assumptions

• Instalments paid at the start of each month.

Frequently asked questions

Why does my bank show a slightly different figure?

Banks round interest each quarter and may count days differently.