RD Calculator – Recurring Deposit Maturity Amount

What your result means

The maturity amount is what you receive at the end of the tenure. Total deposited is simply the instalment multiplied by the number of months, and interest earned is the difference. The donut shows the interest share, which grows with longer tenures as earlier instalments compound for longer.

The growth over time chart compares the money you have put in (the dashed line) with the value of the account year by year.

How to use this RD calculator

1. Enter the monthly instalment you will deposit.
2. Enter the interest rate per year from your bank or post office for that tenure.
3. Set the tenure in months (6 to 120).
4. Read the maturity amount instantly. Change the instalment or tenure to plan for a target, such as school fees or a festival fund.

Formula and worked example

Banks and the post office compound RD interest quarterly. Each instalment is treated as a small deposit that earns interest for the months remaining until maturity:

M = Σ (k = 1 … n)  R × (1 + r/400)^((n − k + 1) / 3)
R = monthly instalment, r = annual rate in %, n = tenure in months

For whole quarters this equals the closed form M = R × [(1 + i)^q − 1] ÷ [1 − (1 + i)^(−1/3)], with i = r/400 and q = quarters.

Worked example (computed by this tool’s own function): ₹5,000 a month at 7% for 12 months.

• Quarterly rate i = 7 ÷ 400 = 0.0175
• First instalment is held 12 months (4 quarters), the last one 1 month (⅓ quarter)
• Maturity = ₹62,310.66; deposited ₹60,000; interest ₹2,310.66

For comparison, the same ₹60,000 placed as a one-year FD at 7% would earn ₹4,311.54, because all of it compounds from day one.

RD reference table

All figures are produced by the same function that powers the calculator above.

Special cases and common mistakes

• Small differences from your bank. Some banks compute interest on completed quarters only and pay simple interest for the broken period; others round each quarter. Expect a difference of a few rupees, not hundreds.
• Instalment date. The formula assumes the instalment is paid at the start of each month. Paying late in the month earns slightly less; repeated delays attract a penalty.
• Comparing with SIP. An RD gives a fixed, guaranteed rate; a SIP in a mutual fund has no fixed return. Use the SIP calculator for market-linked estimates.
• Senior citizen rates. If your bank offers a higher RD rate for senior citizens, enter that rate.
• Premature closure. Closing early usually earns the rate for the period actually run, minus a penalty; this calculator assumes the RD runs to maturity.
• Tax. TDS is deducted on RD interest above the threshold in force; the maturity you receive may be slightly lower than shown.