RD calculator
What a recurring deposit pays at maturity, compounded every quarter as Indian banks do. ₹5,000 a month at 7% a year for 5 years matures at ₹3,59,663.95, of which ₹3,00,000 is what you paid in.
Works in your browser. Nothing you type is sent anywhere.
Your figures
Results
Maturity amount
₹3,59,663.95
after 60 instalments
- Total deposited
- ₹3,00,000
- Interest earned
- ₹59,663.95
Fix the figure marked above, and the results will follow.
The link keeps your figures after its # sign, a part browsers never send to a server.
How it grows
- Deposits
- Interest
Year by year
| Year | Deposited so far | Interest so far | Value |
|---|---|---|---|
| 1 | ₹60,000 | ₹2,310.66 | ₹62,310.66 |
| 2 | ₹1,20,000 | ₹9,098.90 | ₹1,29,098.90 |
| 3 | ₹1,80,000 | ₹20,686.49 | ₹2,00,686.49 |
| 4 | ₹2,40,000 | ₹37,418.28 | ₹2,77,418.28 |
| 5 | ₹3,00,000 | ₹59,663.95 | ₹3,59,663.95 |
How this is calculated
Each monthly instalment earns interest, compounded quarterly, for the time it stays in the deposit. The first instalment stays for the whole tenure; the last for one month. Added up, that’s the usual RD formula:
Maturity = R × ((1 + i)^n − 1) ÷ (1 − (1 + i)^(−1/3))
where R is the monthly instalment, i is the quarterly rate (the yearly rate ÷ 4 ÷ 100) and n is the number of quarters (months ÷ 3).
- Instalments are paid on time, at the start of each month. A late instalment can attract a penalty, and it earns less.
- Before tax. RD interest is taxable, and your bank may deduct TDS from it, depending on the tax rules for the year and your situation.
- Post Office RDs follow their own rules and rate, so their maturity amount can differ from a bank RD’s.
Questions
Is an RD better than a SIP?
They do different jobs. An RD’s return is fixed and known when you open it. A SIP in a mutual fund can earn more over long periods, but its value goes up and down, and nothing is guaranteed. An RD suits money you’ll need on a set date, like a fee or a trip.
Why is my bank’s maturity amount slightly different?
Banks round and count quarters in their own way, and some work out RD interest on the balance at each quarter’s end. The difference is usually small; your RD statement shows the bank’s figure.
Can I break an RD early?
Usually, yes, with a lower rate as a penalty. Check your bank’s terms before you open one if you might need the money sooner.
Track your RDs in Quilleaf
Quilleaf is a free app for Android that keeps your money ledger on your phone, with no sign-up. FDs, RDs, PPF, EPF and bonds grow on their own from the interest rate and compounding you set.
- Installments due for your SIPs and RDs, with Mark paid, and a list of what’s Maturing soon.
More calculators
FD calculator
Fixed deposit maturity and interest, compounded quarterly, with monthly or quarterly payouts.
SIP calculator
What a monthly SIP could grow to, with an optional yearly step-up.
PPF calculator
Public Provident Fund balance at maturity, year by year, at the rate you set.
Emergency fund calculator
How much to keep aside for a rainy day, and how long it takes to get there.
These figures are estimates to help you plan, not financial advice. Banks, lenders and fund houses round and time things their own way, and rates change: check with them before you decide.