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RD calculator

Work out what a recurring deposit pays at maturity, compounded every quarter. Everything is calculated on your device.

% a year
months
Result

Your result will appear here.

What it does

The RD calculator works out a recurring deposit’s maturity amount, with each month’s deposit compounded every quarter, as Indian banks credit it:

The result updates as you type.

How to use it

  1. Type the monthly deposit.
  2. Type the interest rate as a yearly percentage.
  3. Type the period in whole months.
  4. Select Copy result to put the figures on your clipboard.

The calculator remembers your numbers on this device, so they’re there the next time you open the page.

How it’s calculated

Each deposit is made at the start of a month. A deposit with L months left until maturity grows like a fixed deposit: its q whole quarters compound, and the m months left over (0 to 2) earn simple interest. With the monthly deposit R and the yearly rate r in percent, the maturity amount adds this up over every deposit:

Maturity = Σ R × (1 + r ÷ 400)^q × (1 + r × m ÷ 1,200)

For 5,000 a month at 7% a year for 60 months, the first deposit is held for 60 months and the last for 1 month, and the 60 deposits add up to 359,671.95.

The calculator adds the deposits exactly and rounds the total half up to whole cents once, so no rounding builds up along the way.

Good to know

Privacy

Everything is calculated in your browser, on your device. Nothing you type is uploaded. Only your numbers are kept, in this browser’s storage, so the page can show them again.

Frequently asked questions

How does RD interest build up?

Each monthly deposit earns interest from the month it's made, and the interest is added every quarter, so later quarters earn interest on it too. The first deposit is held for the whole period and the last one for a single month. 5,000 a month at 7% for 60 months puts in 300,000 and comes to 359,671.95.

How is an RD different from an FD?

A fixed deposit puts in one amount at the start and holds all of it for the whole period. A recurring deposit puts in the same amount every month, so each deposit is held for a shorter time and the interest comes to less than an FD of the same total.

What about missed or late payments?

This calculator assumes every deposit is made on time at the start of its month. Banks have their own rules for a missed or late payment, often a small charge, and this calculator doesn't model them.

Why can a bank's figure be a little different?

Many RD calculators use one closed formula for the whole series, and banks count days in their own way. This one adds each deposit's quarterly growth exactly, so other figures can differ by a few units.