Project the maturity value of a monthly recurring deposit.
Fill in the details and click Calculate to see your results.
![Recurring Deposit formula: M = P × [(1 + i)ⁿ − 1] ÷ [1 − (1 + i)^(−1/3)]; Interest = M − P × months](https://powercalculators.com/assets/img/calculators/rd-calculator-1200x630.jpg?v=efd76b3d3c "Recurring Deposit Calculator — formula explained")
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A recurring deposit (RD) lets you save a fixed amount every month and earn interest on the growing balance. It suits people who cannot invest a lump sum but can save regularly.
Enter the monthly deposit, the interest rate and the tenure to see the maturity amount, what you deposited and the interest you earned.
| Monthly Deposit | ₹10,000 |
| Annual Interest Rate | 6.7% |
| Term | 5 yrs |
| Maturity Amount | ₹7,13,658 |
| Total Deposited | ₹6,00,000 |
| Interest Earned | ₹1,13,658 |
| Number of instalments | 60 |
Maturity ₹7,13,658; interest ₹1,13,658.
| Monthly Deposit | ₹5,000 |
| Annual Interest Rate | 7% |
| Term | 3 yrs |
| Maturity Amount | ₹2,00,686 |
| Total Deposited | ₹1,80,000 |
| Interest Earned | ₹20,686 |
| Number of instalments | 36 |
Maturity ₹2,00,686.
Banks usually charge a small penalty for a late instalment, and repeated misses can close the RD. The calculator assumes every deposit is made on time.
An RD gives a fixed, guaranteed return. A SIP in a mutual fund can earn more but its return is not guaranteed.
Yes, the interest is taxable as income, and TDS may apply above the yearly limit.
Interest is compounded quarterly on each monthly instalment. ₹10,000 a month at 6.7% for 5 years gives about ₹7.14 lakh.
M = P × [(1 + i)ⁿ − 1] ÷ [1 − (1 + i)^(−1/3)], with i the quarterly rate and n the number of quarters.