Recurring deposit is a special type of deposit scheme, usually offered by the banks in India to support the deposit scheme requirements of mass people with their regular monthly income.
Recurring deposits are almost similar to fixed deposits, but instead of a fixed amount at once the investors get to store a specific amount every month from their salary so the pressure doesn't really feel so hard to bear.
For example, an investor could just deposit 5,000 rupees per month to build a recurring deposit which would mature within a time frame of 6 months to 10 years.
For the calculation, monthly deposit amount, frequency, interest rate etc. values are required. Check out various recurring deposits schemes offered by Indian banks and calculate maturity value by using our recurring deposit calculator.