RD Calculator
See how regular deposits and accumulated interest build your maturity amount.
Open for tax, inflation and account-specific timing assumptions.
Deposits and interest over time
Before tax and inflation. Uses the selected compounding frequency and contribution timing.
View chart data
Build a recurring deposit plan around your monthly budget
A recurring deposit builds savings through regular fixed installments. Each installment earns interest for a different length of time, so applying the full-term return to all contributions overstates maturity. This calculator tracks every monthly contribution separately through an equivalent-rate projection.
Worked example
With Rs 5,000 deposited each month for 36 months, total deposits are Rs 1,80,000. At zero interest maturity is exactly Rs 1,80,000. At a positive rate, a beginning-of-month installment earns one additional month compared with an end-of-month installment.
Formula and calculation assumptions
Monthly rate = (1 + nominal annual rate / frequency)^(frequency / 12) - 1Rates in the formula are decimals. Every month, the balance grows at this equivalent rate. Recurring contributions are added before growth in beginning-of-month mode and after growth in end-of-month mode. No intermediate rounding is applied. Final displays are rounded to rupees; the monthly CSV retains two decimal places. Tenure is an integer number of months.
Estimated tax equals accumulated interest multiplied by your assumed tax percentage. It is deducted only from the final displayed balance, not from annual accrual. Today's purchasing power divides that net balance by (1 + inflation)^(months / 12). Neither tax input nor inflation default is a statutory rate or a forecast.
RD Calculator: Frequently Asked Questions
What does an RD calculator calculate?
It estimates the maturity value of equal monthly deposits, separating total contributions from interest. Earlier installments earn for longer than later installments; the calculator accounts for those different investment periods.
How much is invested in a Rs 5,000 RD over three years?
Rs 5,000 paid each month for 36 months totals Rs 1,80,000. The maturity value adds interest under the chosen rate and deposit-timing assumptions. At zero interest, maturity equals total deposits.
What is the difference between RD and FD?
An RD spreads contributions across monthly installments, while an FD begins with a lump sum. Even at the same rate and final date, investing the same total money at different times gives different interest amounts.
Does every RD installment earn interest for the full tenure?
No. The first installment remains invested much longer than the last. Applying the full-term compound growth factor to the sum of all installments would overstate the interest.
Can I calculate the monthly RD needed for a goal?
Yes. The target mode estimates a regular monthly deposit under the chosen tenure and interest assumptions. Bank product minimums, installment multiples and actual maturity calculations may require a different final deposit amount.
More questions (5)
Does RD maturity include income tax?
The basic projection is before tax. The optional tax assumption reduces accumulated interest at the end for comparison; it is not an annual TDS calculation or a personalized tax assessment.
Can I compare an RD with a mutual fund SIP?
Yes, but compare the risks as well as the amounts. An RD uses deposit-rate assumptions, while a mutual fund SIP has market-linked returns. An assumed SIP growth rate is not equivalent to a bank's contracted deposit rate.
When is the first installment deposited?
Beginning-of-month mode deposits the first installment immediately and the last one a month before maturity. End-of-month mode deposits the first after one month and the last at maturity.
Are missed-installment penalties included?
No. The projection assumes all scheduled installments arrive on time. Bank penalties, premature closure and changing rates are excluded.
Is quarterly compounding exact for every RD?
No. Quarterly is the default mathematical convention, not a universal bank contract. Fractional quarters are accrued using an equivalent monthly rate; actual dates and bank rounding can change the final amount.