Recurring Deposit Calculator

About this calculator

A recurring deposit builds savings through equal monthly installments, but unlike a fixed deposit's single lump sum, each RD installment compounds for a different length of time, the first deposit earns interest for the full tenure while the last barely earns any, so estimating the maturity value isn't as simple as multiplying the monthly amount by the number of months and adding a flat interest guess. This calculator applies the standard RD maturity formula banks use, M = R × [(1+i)ⁿ − 1] ÷ (1 − (1+i)^(−1/3)), with i as the quarterly interest rate and n as the tenure in quarters, matching the quarterly-compounding convention most Indian banks apply to RD accounts. Enter your monthly deposit, interest rate and tenure to see the exact maturity value and total interest earned, useful for comparing RD offers across banks or checking whether an RD or an equivalent SIP better suits a short-term savings goal.

Frequently asked questions