RD Calculator
See what a fixed monthly deposit grows to in a recurring deposit account.
| Year | Deposited so far | Balance at year end |
|---|
Assumes the deposit is made on the same date every month and interest is compounded quarterly, as most banks do. Your bank's maturity value may differ by a few rupees.
Interest on deposits is taxable and banks may deduct TDS. Figures here are before tax.
Frequently asked questions
How is the RD maturity amount calculated?
Each monthly deposit earns interest from the day it is made until maturity, compounded quarterly. The maturity amount is the sum of all deposits plus all the interest they earn. This calculator adds up every deposit separately, which gives the same result as the standard bank formula M = R × ((1 + i)^n − 1) ÷ (1 − (1 + i)^(−1/3)), where i is the quarterly rate.
What is the difference between an RD and a fixed deposit?
A fixed deposit takes one lump sum on day one. A recurring deposit takes a fixed amount every month, so it suits people who save from monthly income. For the same rate and period, an FD earns more in total because all the money is invested from the start.
What happens if I miss an RD instalment?
Banks usually charge a small penalty for each missed or late instalment, and too many misses can close the account. This calculator assumes every deposit is made on time.
Is RD interest taxable?
Yes, interest on a recurring deposit is added to your income and taxed at your slab rate, and banks may deduct TDS above a limit. The figures shown are before tax.