This recurring deposit calculator works for any bank or the post office: type your monthly instalment, the rate your bank quotes, and the number of months, and it shows the maturity amount and interest using quarterly compounding, the method Indian banks follow.
It is useful for comparing banks, testing a senior citizen rate, or checking the figure a branch gives you. It runs in your browser and stores nothing.
At a glance
Works for
Any bank RD, any rateTenure
6 to 120 monthsMethod
Quarterly compoundingDefault rate
Post office 6.7% (change it)
How to use the recurring deposit calculator
- Enter the amount you will deposit each month.
- Replace the rate with the one on your bank's RD or FD rate card for that tenure. Seniors should enter the senior rate.
- Enter the tenure in months, for example 24 for two years.
- Read the maturity value, total deposits and interest. Open the yearly table for the balance at each year end.
The recurring deposit formula banks use
Each instalment earns quarterly compounded interest for the months it stays. Adding them gives the maturity value:
₹4,000 a month for 36 months at 7.0% comes to about ₹1,60,500 at maturity. Deposits total ₹1,44,000, so the interest is about ₹16,500.
Some banks round at each quarter or treat the first month slightly differently, so a passbook can differ by a few rupees. A large gap means the rate or tenure entered does not match the account.
Bank RD and SBI recurring deposit calculator use
Many people search for an SBI recurring deposit calculator. This site is not affiliated with SBI; this is an independent explanation. The maths is the same for every Indian bank; only the rate changes. Look up the bank's current rate for your tenure, enter it here, and you have that bank's RD calculator. For that bank's rates and rules, see recurring deposit interest rates in SBI.
For the post office, which has a fixed five year term and one national rate, the dedicated post office RD calculator is simpler.
Sample results at different rates
| ₹5,000 a month | 2 years | 5 years |
|---|---|---|
| 6.5% | About ₹1,28,400 | About ₹3,55,000 |
| 7.0% | About ₹1,29,100 | About ₹3,59,700 |
| 7.5% | About ₹1,29,800 | About ₹3,64,400 |
A half percent difference in rate changes the five year result by roughly ₹4,700 on ₹5,000 a month. Worth checking, but the bank's safety and service matter as much.
Recurring deposit interest calculator questions, answered
A recurring deposit interest calculator, a recurring deposit interest rate calculator and a recurring deposit return calculator are the same tool with different names. The SBI recurring deposit interest rate calculator people ask for is simply this one with that bank's rate typed in. For an SBI recurring deposit calculator in Excel, copy the formula from the example box into a sheet.
If you want an RD interest rate in post office calculator, or an RD scheme in post office calculator, either keep the default 6.7% and 60 months here, or use the dedicated post office tool, which locks those values for you.
Yearly, monthly and other RD calculator questions
- Yearly recurring deposit calculator: if you deposit once a year instead, that is closer to a PPF or a series of FDs; use the PPF calculator for yearly deposits.
- Monthly recurring deposit calculator: that is this tool.
- RD return calculator in Excel: the formula in the example box above can be typed into a spreadsheet, but the calculator is quicker.
What the result does not include
The figure is before tax. Interest is taxable each year, and banks deduct TDS once yearly interest passes the threshold. Penalties for missed instalments and early closure are also not included. For the basics of how RDs work, read what is a recurring deposit.
Frequently asked questions
How do I calculate RD maturity?
Add each monthly deposit compounded quarterly for the time it stays in. Enter your figures above and the calculator does it.
Can I use this as an SBI recurring deposit calculator?
Yes. Enter that bank's current rate for your tenure. The method is the same at every Indian bank.
Why does my bank show a slightly different RD maturity?
Rounding and day counts vary a little. A difference of a few rupees is normal.
Does the recurring deposit calculator include TDS?
No. It shows interest before tax.
What is the RD maturity for ₹2,000 a month for 3 years at 7%?
About ₹80,275, with about ₹8,275 of interest.