This is a general-purpose deposit projection: the opening amount compounds for the whole term, while each regular deposit compounds only for the intervals remaining after it is made.

Because deposit frequency and compounding frequency are separate settings, the stated rate is converted into the equivalent rate for each deposit interval before the annuity is summed — so quarterly compounding with monthly deposits is handled correctly.

Given: Initial ₹100,000 plus ₹10,000/month for 5 years at 7% p.a., compounded quarterly

Quarterly rate = 0.0175 → equivalent monthly rate = (1.0175)^1/3 − 1 = 0.005799

Initial grows to 100,000 × (1.0175)²⁰ ≈ ₹1,41,478

60 monthly deposits grow to ≈ ₹7,17,200 → maturity ≈ ₹8,58,700 on ₹7,00,000 deposited

• Regular deposits are assumed at the start of each interval.
• Quarterly compounding is the banking standard in India for both FD and RD products.
• A constant rate is assumed throughout the term; floating-rate products will differ.
• Taxes, TDS and any account charges are not deducted.

How is this different from an FD or RD calculator?
It handles both at once — a lump sum and recurring deposits together, at any frequency.

Which compounding should I pick?
Use whatever your bank states; quarterly is the most common.

Can I leave the regular deposit blank?
Yes — it then behaves as a plain lump-sum deposit projection.