Maturity Amount
₹3.60 L
Total Deposited
₹3.00 L
Total Interest
₹60,053
Year-wise Breakdown
Year | Total Deposited | Interest Earned | Balance |
|---|---|---|---|
| 1 | ₹60,000 | ₹2,324 | ₹62,324 |
| 2 | ₹1,20,000 | ₹6,830 | ₹1,29,154 |
| 3 | ₹1,80,000 | ₹11,661 | ₹2,00,815 |
| 4 | ₹2,40,000 | ₹16,841 | ₹2,77,656 |
| 5 | ₹3,00,000 | ₹22,396 | ₹3,60,053 |
RD earns compound interest on monthly deposits. Each deposit earns interest for the remaining tenure. Formula accounts for each monthly deposit growing at the compounding rate.