Saving for a goal
Put aside a set sum for a festival, a trip or school fees.
RD Calculator
Enter a monthly deposit, a rate and a tenure to see what the recurring deposit pays at maturity.
Your files stay with you. Your files never leave your browser. This tool runs on your device: nothing is uploaded to our servers, so there is nothing for us to store or see.
How to use it
- Enter the monthly deposit and the interest rate.
- Enter the tenure in years or months.
- Read the maturity amount, interest earned and total deposited.
Where it helps
From your salary
See what a monthly habit adds up to by the end of the year.
Shop savings
Park a share of daily takings each month in a safe deposit.
Good to know
Stays in your browser
Numbers you type are worked out on your device and never sent to our servers.
Missed instalments
Banks may charge a penalty; this assumes every deposit is paid.
Interest is taxable
RD interest is taxed at your slab rate, like an FD.
Questions people ask
How much will a recurring deposit pay at maturity?
Enter the monthly deposit, the interest rate and the tenure in years or months. The tool shows the maturity amount, the interest earned, the total you deposited and the number of instalments. Interest compounds quarterly, the way most Indian banks and the post office work it out, and each deposit earns for the months it stays in.
- Monthly Fixed deposit. Same amount each month.
- Quarterly Compounding. Bank method.
- ₹12,400 ₹1,000 x 12 at 6%. Approximate.
- 0 Data sent. In your browser.
How is RD maturity worked out?
Each monthly deposit earns interest for the months it stays in the account, compounded quarterly. The first deposit earns for the full tenure, the last for just one month. ₹1,000 a month for 12 months at 6% matures near ₹12,400, of which about ₹400 is interest.
What if I miss an instalment?
Banks charge a small penalty for each missed instalment and may close the RD after several misses in a row. The interest also drops, because that month's money wasn't there to earn it. This tool assumes every deposit is paid on time, so set up an auto-debit to stay on track.
RD or FD: which pays more?
At the same rate, an FD pays more, because the whole sum earns interest from day one. An RD suits saving a fixed amount each month when you don't have a lump sum. Use the FD calculator with the same total to see the difference for your own figures.
Is RD interest taxable?
Yes. RD interest is added to your income and taxed at your slab rate, just like FD interest. Banks can deduct TDS once your total interest crosses the yearly limit. Submit Form 15G or 15H at the start of the year if your total income is below the taxable limit.
What is the minimum and maximum RD tenure?
Most banks allow tenures from six months to ten years, in multiples of three months. The post office RD runs for five years. Enter the tenure in months or years here. Rates usually differ by tenure, so check your bank's rate card before deciding. Shorter tenures suit near-term goals.
How much do I need to deposit to reach a target?
Try different monthly amounts until the maturity figure reaches your goal. For example, to collect about ₹1 lakh in two years at 7%, you'd need roughly ₹3,900 a month. A slightly higher amount gives you a buffer for any missed month or rate change. The tool does each trial in a second.
Can I change the monthly amount later?
No. A standard RD fixes the instalment for the whole tenure. If your income rises, open a second RD for the extra amount, or consider a flexible deposit if your bank offers one. A SIP is another option that lets you raise the amount each year.
Can I break an RD early?
Yes, but banks usually pay a lower rate for the time the money stayed, minus a penalty. Some banks also offer a loan against the RD instead of breaking it. If you might need the money, pick a shorter tenure and renew it when it matures.
How does the post office RD compare?
The post office RD runs for five years and its rate is set by the government each quarter, often a little above large banks. It's backed by the government. Enter the current post office rate and a five-year tenure here to see the maturity amount.
Why is the bank's figure a little different?
Banks may calculate on the actual days in each quarter, round interest along the way or credit deposits on a different date. A difference of a few rupees is normal. The figure in your bank's RD advice or passbook is the one that counts. Ask the branch if the gap looks larger.
Do senior citizens get a higher RD rate?
Most banks add 0.25% to 0.75% a year for senior citizens, just as they do for FDs. Enter the senior rate from the bank's website to see how much more you'd earn. Over five years on a ₹5,000 monthly deposit, the difference can be a few thousand rupees.
Is my money safe in an RD?
Bank RDs are covered by DICGC deposit insurance up to ₹5 lakh per depositor per bank, including interest and your other deposits there. Post office RDs are backed by the government. Check a small or co-operative bank's health before depositing large sums. Spreading savings across banks keeps more of it insured.
Is anything I enter stored?
No. The figures are worked out in your browser and nothing reaches our servers. There's no sign-up and nothing is saved after you close the page, so you can plan your savings privately and try as many amounts and tenures as you like. Nobody else sees the numbers.
Does it work on a phone?
Yes. The fields bring up the number keypad, you can switch between years and months with a tap and the maturity amount shows at once. It works in any mobile browser, so you can check an RD plan while opening one in your bank's app.
Is the RD calculator free?
Yes. It's free with no sign-up and no limit on use. It's part of the free finance calculators from Marketiism, with the FD, SIP and PPF tools. Marketiism makes software for small businesses and doesn't sell any deposit or investment product. Use it as often as you like when planning monthly savings.
Want this inside your own account?
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