Investments & Wealth
RD Calculator
Calculate recurring deposit maturity with monthly instalments and quarterly compounding
RD details
₹
%
mo
Maturity amount
₹0
How the RD Calculator works
Recurring deposits in India use quarterly compounding on monthly instalments. Each deposit earns for a different duration. The standard formula used by banks is:
M = R × [((1 + i)n − 1) / (1 − (1 + i)−1/3)] • R = monthly deposit • i = rate/400 • n = quarters (months ÷ 3)
Why use it
Detailed features
Bank-standard formula
Uses the RBI-recognised RD maturity formula with quarterly compounding.
Interest breakdown
See total deposited vs interest earned clearly.
Flexible tenure
Enter tenure in months for any RD period.
On the go
Also in the free Toolance Android app.
Frequently asked questions
RD is a monthly deposit with a bank for a fixed tenure at a fixed rate. It suits salaried savers who want disciplined small savings with predictable returns.
Each monthly instalment earns interest for the remaining months. Banks compound quarterly on growing balances. Our RD calculator totals maturity value from your monthly amount, rate and tenure.
RD gives fixed return with bank safety limits. SIP in funds can grow more over long periods but has market risk. Pick based on goal timeline and risk comfort.
Yes, like FD interest, added to income and taxed per slab. TDS may apply if interest from the bank exceeds prescribed limits in a year.
Banks allow limited defaults with penalty or reduced interest. Too many missed deposits can close the account. Set auto-debit from savings for consistency.
6 months to 10 years depending on bank. Shorter RDs suit near-term goals; longer ones for planned expenses in 2 to 3 years.
Close, but bank rounding and tax deduction can differ slightly. Use for planning; confirm maturity on the bank receipt.
Yes. No account or payment needed. Change monthly deposit and tenure anytime.