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RD calculator
Maturity value of a recurring deposit with monthly instalments.
Quick answer
A recurring deposit takes a fixed amount every month and pays interest that banks compound quarterly. Formula: Maturity = R × ((1 + i)^q − 1) ÷ (1 − (1 + i)^(−1/3)). ₹5,000 a month for 60 months at 7% matures at about ₹3,59,664.
Read the guide: How to calculate fixed deposit maturity amount
Maturity value
₹3,59,664
- Amount invested
- ₹3,00,000
- Gain
- ₹59,664
Interest on an RD is taxable.
How is RD maturity calculated?
A recurring deposit lets you save a fixed amount every month at a fixed rate. Banks compound the interest quarterly.
Each deposit earns interest only from the day it goes in, so the early deposits earn the most.
Missing an instalment usually brings a small penalty; the calculator assumes you pay every month.
What is the formula for RD maturity?
- Maturity = R × ((1 + i)^q − 1) ÷ (1 − (1 + i)^(−1/3))
- R = monthly deposit, i = yearly rate ÷ 400, q = months ÷ 3 (quarters)
Can you show a worked example of RD maturity?
₹5,000 a month for 60 months at 7%: i = 0.0175 and q = 20, so maturity = ₹3,59,664. You deposit ₹3,00,000, so the interest is ₹59,664.
What does a recurring deposit mature at?
Maturity value at 7% a year, with interest compounded quarterly.
| Monthly deposit | 12 months | 24 months | 36 months | 60 months |
|---|---|---|---|---|
| ₹1,000 | ₹12,462 | ₹25,820 | ₹40,137 | ₹71,933 |
| ₹2,000 | ₹24,924 | ₹51,640 | ₹80,275 | ₹1,43,866 |
| ₹5,000 | ₹62,311 | ₹1,29,099 | ₹2,00,686 | ₹3,59,664 |
| ₹10,000 | ₹1,24,621 | ₹2,58,198 | ₹4,01,373 | ₹7,19,328 |
Common questions
How is an RD different from an FD?
An FD is one deposit at the start. An RD is a small deposit every month, which suits regular savers.
Which compounding does the RD calculator use?
Quarterly, which is how most Indian banks and the post office quote RD interest.
Is RD interest taxable?
Yes, as income. TDS may apply above the bank’s yearly interest limit.
Can I close an RD early?
Usually yes, but at a lower rate. Check your bank’s terms.