Recurring Deposit Calculator
A recurring deposit lets you save a fixed amount every month at a fixed rate. This calculator shows the interest you will earn and the amount you will receive at maturity.
Results
Interest earned
₹1,09,908.20
- Maturity value
- ₹7,09,908.20
- Total deposited
- ₹6,00,000
Depositing ₹10,000.00 a month for 5 years at 6.5% gives a maturity value of ₹7,09,908.20, of which ₹1,09,908.20 is interest.
Deposit growth
- Deposits
- Interest earned
Balance by year (5 rows)
| Period | Deposited | Interest | Balance |
|---|---|---|---|
| Year 1 | ₹1,20,000 | ₹4,286.46 | ₹1,24,286.46 |
| Year 2 | ₹2,40,000 | ₹16,850.60 | ₹2,56,850.60 |
| Year 3 | ₹3,60,000 | ₹38,243.73 | ₹3,98,243.73 |
| Year 4 | ₹4,80,000 | ₹69,053.87 | ₹5,49,053.87 |
| Year 5 | ₹6,00,000 | ₹1,09,908.20 | ₹7,09,908.20 |
Show the calculation steps
- Quarterly rate = 6.5% ÷ 4 = 1.625%.
- Each ₹10,000.00 deposit is compounded quarterly for the time it stays in the account: M = Σ P × (1 + r ÷ 4)^(4 × months left ÷ 12).
- Adding all 60 instalments gives ₹7,09,908.20; you deposit ₹6,00,000.00 in total.
- Banks may round each month's interest, so the maturity value on your receipt can differ by a small amount. Interest is taxable.
How an RD earns interest
Each monthly instalment earns interest from the day it is deposited until maturity, compounded quarterly by most banks. Earlier instalments therefore earn more than later ones.
RD or SIP?
An RD gives guaranteed, low-risk returns. A SIP in a market-linked fund may earn more but can also fall. Choose based on how soon you need the money and how much risk you can take.
Formula
Maturity = Σ P × (1 + r ÷ 4)^(4 × (months left) ÷ 12), for each monthly deposit
Interest = Maturity − total deposits
Where:
- P
- = Monthly deposit
- r
- = Annual interest rate as a decimal
- months left
- = Months each deposit stays in the account
Example calculation
₹10,000 a month at 6.5% for 5 years
Inputs
- Monthly Deposit
- ₹10,000
- Interest Rate
- 6.5 %
- Deposit Tenure
- 5 years
Result
- Maturity value
- ₹7,09,908.20
- Total deposited
- ₹6,00,000
- Interest earned
- ₹1,09,908.20
Step-by-step
- Quarterly rate = 6.5% ÷ 4 = 1.625%.
- Each ₹10,000.00 deposit is compounded quarterly for the time it stays in the account: M = Σ P × (1 + r ÷ 4)^(4 × months left ÷ 12).
- Adding all 60 instalments gives ₹7,09,908.20; you deposit ₹6,00,000.00 in total.
Important notes
- Results are estimates based on the values you enter. They assume the rates stay constant and exclude taxes and fees unless stated.
Disclaimer: This calculator provides estimates for informational purposes and should not be considered financial advice. Actual figures from lenders, banks and investment products can differ because of fees, taxes, rounding rules and changing rates. Consult a qualified professional before making financial decisions.
Frequently asked questions
How is RD interest calculated?
Each instalment is compounded quarterly for the months it stays in the account, and the amounts are added up.
Is RD interest taxable?
Yes, interest is taxable and TDS may apply above a threshold.
What if I miss an RD instalment?
Banks usually charge a small penalty per missed instalment. This calculator assumes all instalments are paid on time.
Related calculators
- RD Maturity CalculatorFind how much your recurring deposit will be worth at maturity, and how much of it is your own money.
- Fixed Deposit CalculatorCalculate the maturity value and interest on a fixed deposit with quarterly, monthly, half-yearly or yearly compounding.
- Savings Goal CalculatorFind how much to save each month to reach a goal by a date, or how long a monthly saving takes to reach it.
- Compound Interest CalculatorSee how money grows with compound interest. Choose the compounding frequency to get the final amount, total interest and effective annual rate.
Explore more in Savings & Deposit Calculators.