RD Calculator
Runs entirely in your browser
Calculate the maturity value and total interest earned on your Recurring Deposit, using the standard quarterly-compounding formula banks use, with a year-by-year growth breakdown. Everything is calculated directly in your browser.
Year-by-Year Growth
| Year | Deposited This Year | Interest Earned | Balance |
|---|
How to use RD Calculator
- Enter or drag the slider for the amount you plan to deposit every month.
- Enter the annual interest rate offered by your bank.
- Enter the tenure in years or months.
- Your maturity value, total interest and year-by-year growth update instantly.
Features
- Uses the standard quarterly-compounding formula used by Indian banks.
- Sliders and number fields for quick, precise input.
- Live results as you adjust monthly deposit, rate or tenure.
- Enter tenure in years or months.
- Shows maturity value, total invested and total interest earned.
- Donut chart breakdown of invested amount vs. interest.
- Year-by-year growth table.
- 100% client-side — your deposit details are never sent to a server.
Worked Example
Monthly deposit: ₹5,000. Rate: 6.5% p.a.. Tenure: 3 years (36 months).
Quarterly rate (i) = 6.5% / 400 = 0.01625
Quarters (n) = 36 / 3 = 12
M = R × [(1 + i)^n − 1] ÷ (1 − (1 + i)^(−1/3))
= 5000 × [(1.01625)^12 − 1] ÷ (1 − (1.01625)^(−1/3))
≈ ₹1,99,160
Total invested = 5000 × 36 = ₹1,80,000
Total interest earned ≈ ₹19,160Notice the denominator involves a cube root of the quarterly factor — that's what converts the quarterly compounding rate into an equivalent monthly step, since deposits happen every month but interest compounds every quarter.
Things to know about RD interest
- Banks compound RD interest quarterly even though you deposit monthly — each installment earns interest only from the date it's deposited, and the formula's cube-root term accounts for deposits landing partway through a quarter.
- If your tenure isn't an exact multiple of 3 months, the formula still runs using a fractional number of quarters — a close estimate, though your bank's handling of the partial final quarter may differ slightly.
- Unlike an FD, the "total invested" figure builds up gradually over the tenure, so later installments earn much less cumulative interest than the first one.
- This tool doesn't account for TDS or income tax on the interest earned — treat the result as a pre-tax planning estimate and confirm exact figures with your bank.
Is RD Calculator safe?
Yes. The bank-standard RD formula — including the cube-root term that converts quarterly compounding into an equivalent monthly step — runs locally in your browser, so your monthly deposit amount and tenure are never sent to a server.
Frequently Asked Questions
How is RD maturity value calculated?
This calculator uses the standard bank formula for recurring deposits: M = R × [(1 + i)^n − 1] ÷ (1 − (1 + i)^(−1/3)), where R is the monthly deposit, i is the quarterly interest rate, and n is the number of quarters in the tenure. This is the same formula used by most Indian banks.
Why is the interest compounded quarterly for a monthly deposit?
Most banks compound RD interest quarterly regardless of how often you deposit. Each monthly installment earns interest from the date it's deposited until maturity, and the bank formula accounts for this using quarterly compounding.
What if my tenure isn't a multiple of 3 months?
The formula still applies using a fractional number of quarters, giving a close estimate. Your bank's actual calculation for a partial final quarter may differ slightly.
Does this include TDS or tax on RD interest?
No. This calculates only the maturity value based on the deposit, rate and tenure you enter. RD interest is taxable as per your income slab, and banks may deduct TDS if interest exceeds the applicable threshold.
What's the difference between an FD and an RD?
A Fixed Deposit (FD) is a one-time lump-sum deposit that earns interest until maturity. A Recurring Deposit (RD) involves depositing a fixed amount every month, with each installment earning interest for the time it remains deposited.