RD Calculator (India)
Maturity value of a recurring deposit in India, using the quarterly compounding of Indian banks and India Post.
India — recurring-deposit convention of Indian banks (quarterly compounding) and TDS on interest under section 393 of the Income-tax Act, 2025 (old section 194A), as checked on 10/24/2026.
Estimate for guidance only: check the official sources or a licensed professional before relying on it.
Frequently asked questions
What formula do banks use for RD maturity?
M = R × [(1 + i)^n − 1] / (1 − (1 + i)^(−1/3)), where R is the instalment, i the annual rate divided by 4 and n the number of quarters. This page adds up every instalment, which gives the same result.
What happens if I miss an instalment?
Banks usually charge a small penalty and the maturity value falls. This calculator assumes every instalment is paid on time at the start of the month.
Is RD better than a SIP?
An RD gives a fixed, guaranteed rate, while a SIP in mutual funds can earn more or less depending on the market. Many savers use both.
Related calculators: Compound Interest
How the RD calculator works
This calculator shows what a recurring deposit (RD) in India is worth at maturity. It is meant for savers who put away the same amount every month in a bank or at India Post and want to know the final value before opening the account. Enter the monthly instalment, the annual interest rate offered and the tenure in months, from 6 to 120. You get the maturity value, the total you deposited, the interest earned, a table with the value at the end of each year and a chart that splits your money between deposits and interest.
Indian banks and India Post compound RD interest every quarter. Each instalment is paid at the start of a month and earns interest for the months it stays deposited. The page converts the quarterly rate (annual rate divided by 4) into an equivalent monthly factor, the cube root of (1 + r/4), and adds up every instalment grown by that factor for its remaining months. The result equals the bank formula M = R × [(1 + i)^n − 1] / (1 − (1 + i)^(−1/3)) and also works when the tenure is not a multiple of 3 months. Interest is subject to TDS at 10% above ₹50,000 a year.
Example: a monthly instalment of ₹5,000 at 7% a year for 12 months deposits ₹ 60,000.00 and matures at ₹ 62,310.66, so the interest earned is ₹ 2,310.66. Because it is below ₹50,000 a year, no TDS is expected on this deposit alone. The calculator assumes every instalment is paid on time at the start of the month. It does not model penalties for late payment, premature closure, a different rate offered to senior citizens or the income tax you may owe on the interest, so confirm the final figures with your bank.