Savings calculator

A fixed sum each month, a lump sum at the end.RD calculator: what your monthly recurring deposit could add up to.

A recurring deposit lets you put a fixed amount in the bank or post office every month. Enter that amount, the interest rate and the number of years to see what it adds up to. The result is an illustration at the rate you enter.

Book a meetingRead on

RD calculator

DepositsInterest
Total deposited–
Interest earned–
Maturity amount–

Illustration only, at the rates you choose. Check current rates and rules before you decide.

How to use the RD calculator

  1. Enter how much you’ll deposit every month.
  2. Enter the interest rate offered on the RD. Rates can change for new deposits, so check with your bank or post office.
  3. Choose how many years the RD will run. Then see the maturity amount, the total deposited and the interest earned.

How to read your result

Total deposited is your monthly amount multiplied by the number of months. Interest earned is what the bank or post office adds on top, and the maturity amount is the two together.

For example, ₹5,000 a month for 5 years is ₹3,00,000 deposited. At 7%, the maturity amount comes to about ₹3,59,664, so the interest earned is about ₹59,664. Banks may round a little differently, so their figure can vary slightly.

RD interest is taxed at your slab, like FD interest, so you keep less than the interest shown. If the goal is five or more years away, a monthly SIP in a mutual fund is another way to save a fixed sum each month; its returns are market-linked, not fixed. See how we help you start a SIP.

How the RD calculator works

Each monthly instalment earns interest, compounded every quarter, for the months it stays in the RD. The first instalment earns for the whole period and the last one for just a month. The calculator works out each instalment’s value and adds them up. R is your monthly deposit, r is the yearly rate (7% is 0.07) and m is the number of months an instalment stays in.

Maturity = R × (1 + r/4)^(m/3), worked out for every instalment and added up

FAQ

Common questions

What is an RD calculator?
An RD calculator shows what a recurring deposit will be worth at maturity, based on your monthly deposit, the interest rate and the period.
How is an RD different from an FD?
In an FD you deposit one amount at the start. In an RD you deposit a fixed amount every month. An RD suits people who save a little from each month’s income. Try the FD calculator for a one-time deposit.
Is RD interest taxable?
Yes. RD interest is added to your income and taxed at your slab, and the bank may deduct TDS. Your slab depends on your income and on whether you choose the old or new tax regime. Tax rules change, so check with your CA.
What if I miss an instalment?
Rules differ between banks and the post office. Some charge a small penalty for a late instalment, and missing several can lead to the account being closed. Ask your bank or post office about its rules.
RD or SIP: which is better?
Neither is better for everyone. An RD gives a fixed rate and a known maturity amount. A SIP in a mutual fund has no fixed rate; its value moves with the market, so it can grow more or less. Many families use an RD for near goals and a SIP for goals five or more years away.
Do you offer RDs?
No. RDs are offered by banks and the post office. We help families with mutual funds and insurance. Use this calculator to compare, and talk to our team if you’d like to see how a SIP could sit alongside your RD.

Keep exploring

See how we helpMutual funds and SIPInvest a fixed amount every month in funds chosen for your goal and risk.FD calculatorSee what your FD pays after tax, and what it’s worth in today’s money.PPF calculatorSee what yearly PPF deposits could grow to over 15 years.

Your next step

It’s tomorrow that matters.
Let’s plan it today.

A free 30-minute conversation about your goals, your cover and your next step. No jargon, no pressure.

Request a callback

Ticket to tomorrowLKI-1987

FromTodayWhere you are now
ToTomorrowWhere you want to be
Passenger
You and your family
Meeting
30 minutes
Fare
Free
Where
Office or phone

Pick a day

Book this day on WhatsApp