Savings & Deposits calculator
Estimate the maturity value and interest of a recurring deposit in India from the monthly deposit, annual rate, tenure, and compounding frequency, with an optional senior citizen extra rate and a year-by-year growth table.
Interactive calculator
Enter the monthly deposit, rate, tenure, and compounding to see the maturity value and interest. This is an RD estimate before TDS or tax.
Estimated amount deposited, balance, and interest earned at the end of each year.
| Period | Deposited | Estimated balance | Interest earned |
|---|---|---|---|
| Year 1 | ₹60,000 | ₹62,311 | ₹2,311 |
| Year 2 | ₹1,20,000 | ₹1,29,099 | ₹9,099 |
| Year 3 | ₹1,80,000 | ₹2,00,686 | ₹20,686 |
| Year 4 | ₹2,40,000 | ₹2,77,418 | ₹37,418 |
| Year 5 | ₹3,00,000 | ₹3,59,664 | ₹59,664 |
What to do next
Formula, example, assumptions, and FAQs — open any section for the detail.
For each month: balance = (balance + monthly deposit) × (1 + monthly rate)Each monthly deposit is added and then grows with interest until maturity. Because every instalment is invested for a different length of time, this calculator builds the value month by month instead of using a single hard-to-verify formula.
Monthly rate = (1 + annual rate ÷ n)^(n ÷ 12) − 1n is the compounding periods per year (quarterly n = 4). This converts the bank’s compounding into an equivalent monthly growth rate, so quarterly compounding is modelled correctly.
Total deposited = monthly deposit × months · Interest = maturity − total depositedThe interest is whatever the maturity exceeds the sum of your deposits. At a 0% rate, maturity equals total deposited.
Effective yield = ((1 + annual rate ÷ n)^n − 1) × 100This shows the real annualised return after compounding, which is slightly above the stated rate for quarterly or monthly compounding.
A saver deposits ₹5,000 every month into an RD at 7% annual interest for 5 years, compounded quarterly, with no senior citizen add-on.
Calculation:There are 60 monthly deposits totalling ₹3,00,000. Using a monthly rate of (1 + 0.07 ÷ 4)^(4 ÷ 12) − 1 ≈ 0.58%, the balance built month by month reaches about ₹3,59,640. Interest = ₹3,59,640 − ₹3,00,000 ≈ ₹59,640.
Result:The RD matures at about ₹3,59,640, of which roughly ₹59,640 is interest on ₹3,00,000 deposited. The effective annual yield is about 7.19%. This is before any TDS or income tax.
The maturity is built month by month using an effective monthly rate derived from the chosen compounding frequency, and is rounded to whole rupees. Actual bank figures can differ because of day-count conventions, rounding, interest-crediting rules, and instalment timing. TDS, tax, missed-instalment penalties, and premature closure are not included.
Each monthly deposit earns compound interest for the time remaining until maturity. This calculator adds each deposit and grows the running balance month by month using a monthly rate derived from the bank’s compounding frequency.
Both usually use the same kind of interest rate. An FD invests a lump sum for the full tenure, while an RD invests smaller amounts that are each invested for less time, so the total interest is naturally lower than an FD of the same total amount.
In general, RD interest is taxable as income in India and can attract TDS depending on the amount and your details. This calculator estimates the gross maturity only and does not compute tax.
No. The maturity and interest shown are before any TDS or income tax. Your actual in-hand amount may be lower after tax.
It means interest is calculated and added to the balance every three months. The calculator converts this into an equivalent monthly growth rate so each instalment compounds correctly.
Yes. Enter the bank’s senior citizen extra rate in the optional field and it is added to the base rate. There is no fixed senior rate because it varies by bank and scheme.
Banks usually charge a small penalty or reduce interest for missed or late instalments, so your actual maturity may be lower than this estimate. This calculator assumes every instalment is paid on time.
Banks may use different rounding, day-count conventions, or interest-crediting rules. Small differences from this estimate are normal; confirm the exact figure with your bank.
This calculator provides a general estimate for planning and education only. It is not a bank quote, deposit offer, or financial advice. Actual RD interest, maturity, taxes, TDS, and penalties depend on the bank, scheme, tenure, amount, and your profile. Confirm figures with your bank before deciding.Read the full disclaimer.