Recurring Deposit Calculator
Plan your disciplined monthly savings. This calculator projects maturity wealth and compounding interest on recurring monthly deposits across standard bank tenures.
Amount deposited every calendar month
Contracted annual interest percentage
Total duration of recurring installments
Total payout received at conclusion of tenure
How to Use This Calculator
- Enter the monthly installment amount you plan to deposit.
- Input the annual interest rate quoted by your bank.
- Select the tenure duration in months (e.g. 12, 24, 36).
- Instantly review your total deposited capital and final maturity returns.
Formula & Calculation Methodology
Each monthly installment compounds quarterly for its individual remaining duration until maturity.
Worked Example
$500 monthly deposit for 24 months at 7.0% interest
Frequently Asked Questions
How does an RD differ from a SIP in mutual funds?↓
An RD provides fixed, guaranteed capital and returns with zero market volatility, whereas a SIP invests in market equities with fluctuating returns.
What happens if I miss a monthly RD payment?↓
Most banks charge a small late fee or penal interest for missed monthly installments, and persistent defaults may cause premature closure.
Can I change my monthly deposit amount mid-tenure?↓
No, the monthly installment amount is fixed at account opening and cannot be modified without closing the RD.
Is RD interest compounded monthly or quarterly?↓
Standard commercial banking guidelines compound recurring deposit interest on a quarterly basis.
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Source Citation & Disclaimer
Informational tool only; not licensed tax, legal, or financial advice.