RD Calculator (Recurring Deposit)
A recurring deposit calculator estimates how much your monthly deposits grow to at maturity, based on the deposit amount, interest rate and tenure, with quarterly compounding.
Last updated 2026-08-14
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quizExample
How this calculator works, with real numbers (no JavaScript needed):
Inputs
- Monthly deposit
- 5000
- Interest rate
- 6.5
- Tenure
- 5
- Compounding frequency
- quarterly
Results
- Maturity value
- ₹3,56,863.01
- Total deposited
- ₹3,00,000
- Total interest
- ₹56,863.01
functionsThe formula
A recurring deposit (RD) is like an FD you fund monthly. You commit to depositing a fixed amount every month for a set tenure (typically 6 months to 10 years), and the bank pays interest on the accumulating balance — usually compounded quarterly — just like an FD.
How it's calculated
Unlike an FD where a single lump sum compounds, an RD has a new deposit each month. The standard approach compounds the running balance quarterly and credits each month's deposit as it is made:
- Every month, your deposit is added to the balance.
- At the end of each quarter, the balance earns interest at the quarterly rate.
- At maturity you receive the sum of all deposits plus all the interest.
Worked example
Deposit ₹5,000 every month at 6.5% for 5 years (60 months):
- Total deposited = 5,000 × 60 = ₹3,00,000
- With quarterly compounding, the maturity value is approximately ₹3,53,230
- Total interest earned ≈ ₹53,230
RD vs SIP
An RD is safe and guaranteed — the interest rate is fixed and your principal is secure. A SIP invests in the market and can earn more, but returns are not guaranteed. Many savers use RDs for short-term goals and SIPs for longer-term wealth building.
helpFrequently asked questions
question_markWhat is a recurring deposit?
A recurring deposit is a bank savings scheme where you deposit a fixed amount every month for a fixed tenure and earn interest on the accumulating balance, usually compounded quarterly.
question_markHow is RD maturity value calculated?
Each monthly deposit accrues interest until maturity. The balance compounds quarterly at the quarterly rate, and maturity equals total deposits plus total interest earned.
question_markIs an RD better than an SIP?
An RD offers guaranteed, safe returns with a fixed rate. An SIP can potentially earn more but carries market risk. RDs suit short-term goals; SIPs suit long-term wealth creation.