Recurring Deposit Calculator
Free RD calculator. Enter your monthly deposit, interest rate and tenure to see the recurring deposit maturity amount and interest, using the bank formula.
About the Recurring Deposit Calculator
A recurring deposit calculator works out the maturity value of a monthly RD (bank or post office) using the standard quarterly-compounding RD formula.
A recurring deposit is the savings habit-builder of Indian banking: you commit a fixed amount every month for a fixed tenure and earn FD-like interest on it. It suits anyone who can't invest a lump sum but can spare a few thousand rupees monthly — students, first jobbers, households saving for a planned expense like a wedding, school fees or a down payment.
This calculator uses the standard formula banks and post offices apply, with quarterly compounding: each monthly instalment earns interest for the number of quarters it stays deposited. Because early instalments compound longer than later ones, the maturity value is a little lower than a same-size FD — your money enters gradually rather than all at once. Enter your monthly amount, the bank's RD rate and the tenure in months (banks accept 6 to 120 months, in multiples of 3) to see the maturity amount and total interest.
Compare the result against a SIP in a debt or hybrid fund for the same monthly amount: the RD's return is guaranteed and fixed, the fund's is market-linked but historically somewhat higher. Many savers run both — an RD for must-have goals and a SIP for growth. RD interest, like FD interest, is taxable at your slab rate and subject to TDS above the annual threshold.
How to use the Recurring Deposit Calculator
- Enter your basic details in the fields provided.
- Select the appropriate options from the dropdowns.
- View your precise calculation results instantly.
Worked example
₹5,000 deposited monthly at 6.8% for 36 months → maturity ₹2,00,058.97 on ₹1,80,000 deposited, so ₹20,058.97 in interest.
Formula
Each monthly instalment compounds quarterly for the quarters remaining until maturity; the maturity value is the sum of all instalments' compounded values (standard bank/Post Office RD formula).Frequently asked questions
- How is RD interest calculated?
- Banks compound RD interest quarterly. Each monthly deposit earns interest for the quarters remaining until maturity, so early instalments earn more than later ones. This calculator applies the same standard formula.
- Can I choose any RD tenure?
- Most banks accept tenures from 6 months to 10 years, in multiples of 3 months. The calculator enforces a minimum of 3 months to match the quarterly-compounding formula.
- RD or SIP — which is better?
- An RD gives a guaranteed, fixed return and suits short-term, must-achieve goals. A SIP into a mutual fund is market-linked — historically higher over long periods but not guaranteed. Many savers use both for different goals.
- Is my financial data secure?
- Absolutely. All calculations happen entirely in your browser and none of your inputs are saved or sent to any server.
- Can I use this for official tax filing?
- While highly accurate for planning and estimation, always consult your CA or tax professional for final official filings.
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