RD Calculator — recurring deposit maturity, the bank way
Enter your monthly deposit, the interest rate and the tenure to see the maturity value, with quarterly compounding as Indian banks apply it.
What you get back
- Your deposits₹60,00096%
- Interest earned₹2,3114%
🎈 In today’s money at 6% inflation
How it is calculated
In a recurring deposit you put the same amount in every month. Each instalment earns interest for the months it stays in, compounded every quarter.
So the first instalment earns the most and the last one the least. The maturity is the sum of every instalment grown this way.
Maturity = Σ P × (1 + r/400)^(k ÷ 3), k = 1 … n P = monthly deposit, r = annual rate %, k = months each instalment stays in
Questions
How is RD interest calculated in India?
Most banks compound RD interest every quarter. Each monthly instalment grows for the months left until maturity; the calculator adds them up.
RD or SIP — which is better?
An RD gives a fixed, guaranteed return, good for goals within 1–3 years. A SIP in an equity fund can grow more over 5+ years but moves with the market.
Is RD interest taxable?
Yes, at your income-tax slab, and TDS applies above the yearly threshold, like an FD.
What if I miss an RD instalment?
Banks usually charge a small penalty and may close the RD after several missed months. Spendly can remind you as a bill each month.