Methodology
How this calculator works
The calculator builds a monthly cash-flow schedule. It converts a nominal annual rate with quarterly compounding into a mathematically equivalent monthly rate, adds each instalment at the beginning of the month, then applies growth.
Balanceₘ = (Balanceₘ₋₁ + Deposit) × (1 + monthly equivalent rate)
Assumptions
- Instalments are made at the beginning of each month.
- A quarterly nominal rate is converted to an equivalent monthly rate.
- The rate remains unchanged for the tenure.
- Bank-specific day counts, missed-instalment rules, TDS, tax and penalties are excluded.