Free RD calculator — maturity value of a recurring deposit
A recurring deposit (RD) lets you put away a fixed amount every month and earn interest on each instalment. This calculator estimates what your RD could be worth at maturity. Enter the monthly deposit, the interest rate your bank offers and the tenure, and you see the total deposited, the interest earned, the maturity amount and a year-by-year table.
How to use the RD calculator
- Enter the monthly deposit in rupees.
- Enter the annual interest rate your bank quotes.
- Enter the tenure in years and months.
- Pick the compounding. Many Indian banks compound RD interest quarterly, but check your own deposit terms.
- Click Calculate.
How the maturity amount is worked out
Each monthly instalment earns compound interest from the month it is deposited until maturity. The calculator adds up the final value of every instalment. It assumes each instalment is paid at the start of its month. With n compounding periods a year, an instalment D that stays for k months grows to D × (1 + r ÷ n)n × k ÷ 12, and the maturity amount is the sum over all instalments.
Worked example
A monthly RD of ₹5,000 at 6.5% a year for 5 years (60 months), compounded quarterly, means you deposit ₹3,00,000 in total. It matures at about ₹3,54,954, so the interest is about ₹54,954.
What this calculator does not include
- Tax. RD interest is taxable, and banks may deduct TDS. The figures here are before tax.
- Late or missed instalments. The estimate assumes you pay on time every month. Banks usually charge a penalty for delays.
- Premature closure. Closing an RD early usually earns a lower rate.
- Bank rules. Banks count days and round interest in their own way, so the amount at your bank can differ by a small amount.
Runs entirely in your browser
The calculation happens on your device. Nothing you type is sent to our servers. You may also want the FD calculator for a lump-sum deposit, or the SIP calculator for monthly investing in mutual funds.
Important notice
This is an estimate for planning only. It is not financial advice or an offer from any bank. Check the rate, compounding and terms with your bank before you open a deposit. SR Infobiz accepts no liability for decisions made only on the basis of this tool.
Need a custom calculator or tool built for your business? Get in touch with SR Infobiz.