RD Calculator
Work out what a recurring deposit will be worth at maturity, paying in the same amount every month.
Maturity value₹1,29,099
- Instalments
- 24
- Total deposited
- ₹1,20,000
- Interest earned
- ₹9,099
- Growth on what you paid in
- 7.6%
Compounded quarterly, as Indian banks do. Each instalment earns interest only for the time it is actually invested, so later deposits contribute less.
How to use it
- Enter the amount you will deposit each month.
- Enter the rate your bank is offering.
- Enter the term in months.
- The maturity value and interest update as you type.
Questions
Why is the interest lower than on a fixed deposit of the same total? Because the money arrives gradually. Your last instalment earns interest for one month, not the whole term, so the average amount invested is roughly half the total you pay in.
How is it compounded? Quarterly, which is what Indian banks use for recurring deposits. Each instalment is compounded for the time it is actually invested.
Is RD interest taxed? Yes, in the same way as fixed deposit interest. The figure here is before tax.