Recurring Deposit Calculator to Plan Your Monthly Savings
Small monthly savings add up faster than expected. That's what recurring deposits offer. The FundsIndia recurring deposit calculator helps you estimate maturity value instantly without any manual calculations.
Monthly Investment
Interest Rate
Time Period (Yrs)
Maturity Value
₹ 3,59,664
Total Investment
₹ 3,00,000
Total Returns
₹ 59,664
Start Your Investment Journey Today
What Is the Recurring Deposit Calculator?
An Recurring Deposit (RD) calculator is a free online tool that helps you estimate the maturity value of your recurring deposit before you invest. Simply enter your monthly deposit amount, investment tenure, and applicable interest rate, and the calculator instantly estimates the total amount you'll receive at maturity. A Recurring Deposit (RD) is a savings scheme offered by banks and post offices, where you invest a fixed amount at regular intervals, usually every month, and earn interest as per the applicable bank rates or government savings scheme rules.
Instead of calculating returns manually, use the FundsIndia RD Calculator to get quick and accurate estimates. Enter your monthly instalment, tenure, and interest rate, and the calculator applies the standard RD formula to estimate your maturity value. It also eliminates manual calculation errors, giving you a clear estimate of the interest earned and the final maturity amount before you invest.
An RD calculator makes financial planning simpler by helping you compare different RD options before making a decision. It shows how your savings can grow over time and supports goal-based planning, whether you're building an emergency fund, saving for a holiday, or working towards any other financial goal.
RD Calculator Formula
M = R[(1+i)^n - 1] / (1 - (1+i)^(-1/3))
Maturity Amount
Monthly Instalment Amount
Number of Quarters for which instalments are made
Interest Rate per annum ÷ 400
Advantages of Using an RD Calculator
An RD calculator offers more than just quick sums. It supports smarter financial decisions.
Accurate and Instant Results
The recurring deposit calculator is a digital tool that calculates the result instantly. Along with being quick, the tool also offers accurate results. This removes the scope of calculation errors that may occur with manual calculations.
Quick Comparison and Goal Mapping
The RD calculator by FundsIndia allows you to check multiple results by tweaking the details such as interest rate, tenure, and the principal amount. Comparing different results allows you to decide what best suits your future financial goal.
Free of Cost
Unlike physical calculators, you need not make any payment to use the digital calculator by FundsIndia. It is free of cost, no matter how many times you use it. So, when in doubt, make sure to use the RD calculator for clarity and confidence. You know exactly what you are signing up for before opening an RD account.
How to Use the FundsIndia RD Calculator?
Using the formula-based FundsIndia RD calculator tool takes under a minute.
The Deposit Amount
Enter your monthly deposit amount. Since a recurring deposit requires you to deposit a fixed amount at regular intervals (usually monthly), entering the deposit amount is crucial to calculate the result.
Other Inputs
Apart from the monthly deposit, you also need to enter investment tenure in months or years and the RD interest rate offered by your bank or post office.
Calculation and Comparison
Once done with entering inputs, you need to click ‘Calculate’ to view your maturity value and total interest earned. The calculator instantly breaks down your total investment versus total returns. You can adjust any field and see updated figures immediately.
How Does the RD Maturity Calculator Work?
With the FundsIndia recurring deposit calculator, you no longer have to calculate manually or make guesses for RD planning. Enter your deposit, tenure, and rate for an instant maturity estimate. Compare, plan, and save with far more confidence. Below is an example for better clarity:
Nitin Sharma, a resident of Pune, is planning a recurring deposit for his next health insurance premium and a few other expenses. He decides to deposit ₹5,000 every month for 24 months.
After 24 continuous deposits of ₹5,000 for two years, Nitin has deposited a total of ₹1,20,000. The rate of interest assumed is 7% per annum. Hence, the maturity amount after 24 months is ₹1,29,102 (approx.). This includes ₹9,102 (approx.) interest amount. These figures are illustrative. Actual returns depend on the bank's compounding method.
An RD can help you build a savings habit by setting aside a fixed amount regularly towards a known goal. Once you know how much your RD could grow, you can also look at how other investment options may fit into your overall financial plan. With FundsIndia, you can explore mutual funds based on your goals, investment horizon, and risk appetite. Open a mutual fund account and start investing towards your long-term goals.
Under the hood
Recurring deposit is a low-risk instrument that requires regular instalments.
RD interest is fully taxable under "income from other sources," as per the Income Tax Act.
Premature withdrawal of recurring deposits may attract penalties.
Longer tenures and higher rates increase your maturity value, but not always proportionally.
M = R[(1+i)^n - 1] / (1 - (1+i)^(-1/3))
Frequently Asked Questions
Frequently Asked Questions
What is a recurring deposit and how does it work?
A recurring deposit is a time deposit scheme where individuals fix a sum at every interval. The deposited amount receives interest at regular intervals. Typically, banks and post offices offer RD.
How is interest on a recurring deposit calculated?
Interest on recurring deposits is generally compounded quarterly, although the compounding frequency may vary by bank. You may use the recurring deposit calculator by FundsIndia to have a better understanding.
What is the difference between a recurring deposit and a fixed deposit?
A recurring deposit requires regular deposits over a tenure while a fixed deposit requires a lump sum amount. FD does not involve regular instalments unlike RD. The returns on both FD and RD are taxable.
Is the interest earned on an RD taxable?
Yes. Interest earned on RD is taxable under "income from other sources," as per the Income Tax Act of 2025. Resident senior citizens may claim a deduction of up to ₹50,000 on eligible interest income under Section 80TTB, subject to the conditions prescribed under the Income Tax Act. Note that deductions are only available with the old tax regime.
Does TDS apply to recurring deposit interest?
TDS is charged under the Income Tax Act of 2025 on the returns earned on recurring deposits if it exceeds ₹50,000 (₹1,00,000 for senior citizens) in a financial year.
What is the minimum amount I can deposit each month?
Banks set their own minimum deposit amount for recurring deposits. For a post office recurring deposit, the minimum monthly deposit is ₹100. It can be increased to a multiple of ₹10.
What happens if I miss a monthly RD installment?
Banks typically levy a small penalty for delayed installments. Repeated defaults may lead to account closure, subject to the bank's specific terms.