Calculate Recurring Deposit maturity amount
Built & maintained by Pappu Venkata Subbi Reddy, founder of Clacify · Formulas verified against official Indian government sources
Clacify's RD Calculator computes the maturity amount for bank Recurring Deposits using the quarterly compounding formula. Enter your monthly deposit amount, annual interest rate, and tenure (in months) to see total deposits made, total interest earned, and the final maturity amount. RDs are a disciplined savings instrument offered by all major Indian banks — similar to a SIP for fixed deposits. Interest rates are typically close to regular FD rates and are updated quarterly by the RBI.
RD maturity uses compound interest applied quarterly on each instalment. The formula: M = R × [(1 + i)^n − 1] ÷ (1 − (1 + i)^(-1/3)), where R is monthly deposit, i is quarterly interest rate, and n is the number of quarters. Most banks compound RD interest quarterly, similar to FDs.
A Fixed Deposit (FD) is a one-time lump sum investment for a fixed period. A Recurring Deposit (RD) is a monthly instalment savings scheme — you deposit a fixed amount every month. RDs are ideal for salaried individuals who want to save regularly; FDs are for those with a lump sum to invest. Interest rates are similar for both.