A Recurring Deposit (RD) is a special investment product, popular in many countries, that allows you to invest a fixed amount of money every month for a predetermined period. It's an excellent way to build a savings habit and accumulate a lump sum for a future goal, as it combines the discipline of regular saving with the benefit of earning a fixed rate of interest. This RD Calculator helps you find out the total maturity value of your investment at the end of the term. To use the calculator, you need to provide three key inputs. First, enter the 'Monthly Investment' amount you commit to depositing every month. Second, input the 'Annual Interest Rate' offered by the bank for the RD scheme. The interest on an RD is typically compounded quarterly, and this calculator takes that standard into account in its underlying formula. Third, specify the 'Term' of the deposit in months. RDs can have tenures ranging from a few months to several years. After you have filled in these details, click the 'Calculate' button. The tool will compute and display the 'Maturity Value', which is the total amount you will receive from the bank at the end of the RD term. The results are also broken down to show you the 'Invested Amount' (the sum of all your monthly payments) and the 'Estimated Gains' (the total interest you earned over the period).