RD Calculator
Work out the maturity value and interest of a recurring deposit from a fixed monthly instalment, rate and number of months.
How it works
Each month: balance = balance × (1 + rate ÷ 12) + monthly deposit — every instalment earns interest for the months remaining until maturity
A recurring deposit lets you save a fixed amount every month at a rate fixed when you open it, so early instalments earn interest for longer than later ones. This calculator uses a monthly-rest model: each month the running balance grows by one month of interest and then the new deposit is added. The interest earned is the maturity value minus everything you paid in.
Worked example
Saving ₹5,000 every month for 5 years (60 months) at 7% grows to about ₹3.58 lakh. That is ₹3 lakh of your own deposits and roughly ₹58,000 of interest on top.
Frequently asked questions
How is RD interest actually compounded?
Banks officially compound recurring-deposit interest quarterly rather than monthly, so a real RD maturity can differ by a small amount from this monthly-rest estimate. Use it as a close approximation rather than a to-the-rupee figure.
Is RD interest taxable?
Yes. Like an FD, recurring-deposit interest is added to your income and taxed at your slab rate, with TDS deducted once it crosses the annual threshold. The maturity amount you receive is therefore before any tax you may owe.
What if I miss a monthly instalment?
Most banks charge a small penalty for a missed or late instalment and may close the account after several misses. The maturity value also falls short of this estimate because that month contribution and its interest are lost.
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Educational estimate only, not investment advice. Interest rates on PPF, EPF, NPS, Sukanya Samriddhi and other small-savings schemes are revised periodically by the Government of India — confirm the current rate before relying on this.