Recurring Deposit Calculator

A recurring deposit calculator works out the maturity value of a monthly RD (bank or post office) using the standard quarterly-compounding RD formula.

A recurring deposit is the savings habit-builder of Indian banking: you commit a fixed amount every month for a fixed tenure and earn FD-like interest on it. It suits anyone who can't invest a lump sum but can spare a few thousand rupees monthly — students, first jobbers, households saving for a planned expense like a wedding, school fees or a down payment.

This calculator uses the standard formula banks and post offices apply, with quarterly compounding: each monthly instalment earns interest for the number of quarters it stays deposited. Because early instalments compound longer than later ones, the maturity value is a little lower than a same-size FD — your money enters gradually rather than all at once. Enter your monthly amount, the bank's RD rate and the tenure in months (banks accept 6 to 120 months, in multiples of 3) to see the maturity amount and total interest.

Compare the result against a SIP in a debt or hybrid fund for the same monthly amount: the RD's return is guaranteed and fixed, the fund's is market-linked but historically somewhat higher. Many savers run both — an RD for must-have goals and a SIP for growth. RD interest, like FD interest, is taxable at your slab rate and subject to TDS above the annual threshold.