Recurring Deposit (RD) Calculator
See how a monthly savings habit pays off. Enter your monthly deposit, the interest rate and the tenure, and this free recurring deposit calculator shows the maturity value, the total you deposited and the interest earned with quarterly compounding — private, with nothing uploaded.
What is a recurring deposit calculator?
A recurring deposit calculator (RD calculator) works out what a recurring deposit will be worth at maturity and how much interest it earns. A recurring deposit is a bank savings product where you deposit a fixed amount every month for a set tenure, and the bank pays interest on the running balance — common in India, where interest compounds quarterly.
This free RD calculator takes three inputs: your monthly deposit, the annual interest rate and the tenure in years. It then applies the standard RD maturity formula to estimate what your deposits grow into, and separates that total into the amount you actually saved and the interest the bank paid you. Because you build the corpus in small steps, an RD is an easy, low-risk way to save regularly and see predictable growth.
You can also change the compounding frequency to see how it shifts the result, and compare different monthly amounts, rates and tenures before committing. The calculation runs on JavaScript in your browser, so nothing is uploaded.
How to use this RD calculator
- Enter the amount you deposit each month.
- Set the annual interest rate offered by the bank.
- Enter the tenure in years.
- Choose the compounding frequency (quarterly is the Indian default).
- Click Calculate RD to see the maturity value, total deposited and interest earned.
How RD maturity is calculated
Maturity = P × ((1 + r/4)^(4×n) − 1) ÷ (1 − (1 + r/4)^(−1/3)) P = monthly deposit, r = annual rate, n = years
Deposits are monthly but interest is credited quarterly, so the formula compounds the balance four times a year.
Example
With the defaults — ₹5,000 a month, 6.5% per year, 5 years and quarterly compounding — the calculator returns a maturity value of ₹3,54,954.10. You deposited ₹3,00,000 (60 instalments of ₹5,000) and earned ₹54,954.10 in interest. Now raise the monthly deposit to ₹10,000 and the maturity roughly doubles to about ₹7,09,908, with interest of about ₹1,09,908 — a clear illustration of how the monthly amount drives the outcome.
Common use cases
- Planned saving for a goal: build a corpus for an expense a few years away with steady monthly deposits.
- Comparing banks: see how a different RD rate changes the maturity value.
- Short-term goals: a disciplined alternative for cash you need before a fixed deposit tenure makes sense.
- Testing compounding: check whether quarterly or monthly compounding suits your tenure.
Pro tips
- Quarterly is the Indian default: it matches common bank practice and is selected for you.
- Longer tenures pay more: more deposits and more compounding, but your money stays locked for the term.
- Compare senior-citizen rates: many banks offer a premium that raises the maturity value.
- Remember the tax: RD interest is taxable at your slab rate, so consider the post-tax return.
Recurring Deposit Calculator FAQ
What is a recurring deposit?
A recurring deposit (RD) is a savings account where you deposit a fixed sum monthly for a set tenure, and the bank pays interest on the running balance.
How is RD maturity calculated?
Deposits are monthly but interest compounds quarterly, so the calculator uses a quarterly-compounding formula with the annual rate divided by four and the tenure in years.
What is the RD interest rate?
Banks set their own RD rates and change them over time. A typical rate is in the 5-7.5% range depending on the bank, tenure and senior-citizen status.
Is the RD interest compounded or simple?
In India, RDs are usually compounded quarterly, so the bank credits interest on the accumulated balance and you earn interest on earlier interest.
What is the minimum monthly deposit?
Most banks set a minimum RD instalment, commonly between ₹500 and ₹1,000 per month, with no upper limit on the amount you save.
Can I withdraw from an RD before maturity?
Premature withdrawal is possible but usually attracts a lower rate and a small penalty, so it is best avoided unless you have no other option.
Is RD interest taxable?
Yes. Interest earned is added to your income and taxed at your slab rate, so consider the post-tax return when comparing options.
How is an RD different from an FD?
An FD is a lump sum locked for a term, while an RD is built by small monthly deposits. Both are low risk, but an RD suits steady savers.
Does the tenure affect the maturity value?
Yes. A longer tenure means more deposits and more compounding, so the maturity value rises, though your money stays locked for the whole term.
Is this RD calculator free?
Yes. It runs entirely in your browser with no signup, and your figures are never uploaded anywhere.
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