RD Calculator
Calculate recurring deposit maturity value and interest. Enter your monthly instalment, interest rate and tenure to see your RD returns instantly.
Formula last reviewed 4 August 2026 · How we verify our calculators
Maturity value
- Total deposited
- ₹3,00,000
- Interest earned
- ₹59,664
Updates live as you type
Frequently asked questions
A Recurring Deposit lets you save a fixed amount every month for a set tenure at a guaranteed interest rate, earning more than a savings account while building a disciplined habit.
Banks typically compound RD interest quarterly. Each monthly instalment earns interest for the remaining tenure, so earlier deposits earn more — this calculator models that month by month.
Yes. RD interest is taxable at your income slab rate, and banks deduct TDS if the interest crosses the annual threshold.
An RD offers guaranteed, fixed returns ideal for short-term goals and risk-averse savers. A SIP in mutual funds can earn more over the long run but carries market risk.
Your first deposit and your last deposit don't earn the same interest
That's true of every Recurring Deposit, and it's why this calculator can't use a single flat formula the way an FD calculator can. Save ₹5,000 a month at 7% for 5 years and you'll have deposited ₹3,00,000 across 60 instalments — but the maturity value comes to ₹3,59,664, an interest gain of ₹59,664, and that figure only exists because the calculator tracks each instalment separately: your very first deposit earns interest for almost the full five years, while your sixtieth deposit, made in the final month, barely earns any at all.
Why RD math runs deposit by deposit
Banks compound RD interest quarterly, and because a new instalment joins the pool every single month, there's no one clean exponent that captures "average time invested" the way a lump sum's does. This calculator instead simulates the actual mechanics: each monthly deposit is tracked from the month it lands to the month the account matures, quarterly compounding is applied to the running total, and the final maturity value is whatever all of those staggered contributions add up to together.
When an RD beats a lump-sum deposit — and when it doesn't
An RD exists for people who want an FD's guaranteed, tax-predictable return but don't have a lump sum sitting around to deposit on day one — it turns a monthly saving habit into the same kind of locked-in certainty. That makes it a natural fit for short-to-medium-term goals with a fixed date: a holiday, a gadget upgrade, a down-payment buffer you're building month by month. The same tax rule as an FD applies here too — interest is added to your taxable income at your slab rate — so weigh the post-tax return honestly against a SIP if your goal is far enough away to tolerate market risk. Inside five years or so, the RD's certainty is usually worth more than a SIP's higher expected — but not guaranteed — return; beyond that horizon, the math tends to favour the SIP.