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Find the maturity amount on a recurring deposit where you invest a fixed sum every month, with interest compounded quarterly the way Indian banks do it.
Last updated 5 September 2026
Total deposited
₹1,20,000
Interest earned
₹9,099
Maturity value
₹1,29,099
The fixed amount you will pay in each month.
The annual interest rate and the number of months the RD runs.
Maturity value, total deposited and interest earned appear instantly.
Each instalment compounds for its remaining term: balanceₖ = (balanceₖ₋₁ + D) × m
The first ₹5,000 earns interest for all 24 months; the last earns it for one. Compounding each instalment quarterly and summing gives a maturity of roughly ₹1.29 lakh.
The appeal of an RD is rarely the interest rate alone — it is the fixed monthly commitment that builds a savings habit, similar to a SIP but with a guaranteed rather than market-linked outcome. It suits a short, defined savings goal (a deposit for a trip, an appliance, a wedding expense) more than long-term wealth building.
For a longer horizon where you can tolerate market ups and downs, a SIP into a mutual fund has historically outpaced RD returns by a wide margin, at the cost of not being guaranteed.
In an RD your money goes in gradually, so on average it is invested for about half the tenure. An FD puts the whole sum to work from day one.
Yes, banks apply TDS on RD interest above the annual threshold, the same as FDs. The calculator shows gross interest.
Banks usually charge a small penalty and the maturity value drops. This calculator assumes every instalment is paid on time.
No. A standard RD has a fixed monthly instalment set when you open it.
Yes, most banks allow premature closure, usually with a reduced interest rate applied similar to premature FD withdrawal. Check your bank's specific terms.
Most Indian banks offer RDs from 6 months up to 10 years, though the exact range varies by bank.
No — a standard RD locks in the monthly amount at opening. To invest more, open a second RD alongside the first rather than trying to modify the existing one.
Almost always yes — RD rates are typically 2-4 percentage points higher than a standard savings account rate, since you're committing to a fixed monthly deposit rather than keeping funds instantly withdrawable.
Yes — India Post offers its own RD scheme alongside bank RDs, often with a comparable or slightly different rate and a standard 5-year tenure; compare both before committing.
This calculator provides estimates for general information only. Results are mathematical calculations based on the figures you enter and standard formulas. Actual bank, loan, deposit and investment products may differ due to fees, rounding conventions, day-count methods and changing rates and rules. Projected investment returns are not guaranteed and you may get back less than you invest. Nothing here is financial, tax or investment advice — verify the actual terms with the relevant institution or a qualified adviser before making a decision. See our full disclaimer.