Skip to content
Toolspire

Calculators

RD Calculator

RD Calculator is part of Toolspire and is ready as soon as this page loads. Find out what a recurring deposit will be worth, how much of it is interest, and how much to save each month to reach a target — with a month-by-month schedule.

Runs in this tabFreeNo account

On this page

What you can do here

Matches bank tables

Uses the standard RD formula, checked against the one printed in bank RD charts.

Save for a goal

Enter the amount you need and when; get the monthly deposit.

Month-by-month schedule

See the balance and the interest earned in every month or year.

After-tax maturity

Pick your tax slab to see what you actually keep.

Bank or post office

Works for bank RDs of any tenure and the 5-year post office RD.

Five currencies

Rupees with lakh and crore, or dollars, euros, pounds and dirhams.

The sequence

How to calculate RD maturity

  1. 1

    Enter the monthly deposit

    Type the amount you will deposit every month.

  2. 2

    Enter the interest rate

    Use the rate your bank or post office offers; switch on Senior citizen if it applies.

  3. 3

    Choose the tenure

    Pick a common tenure or type the number of years or months.

  4. 4

    Read the result

    See the maturity amount, your total deposits, the interest earned and the full schedule.

Worth knowing

  • RD Calculator on Toolspire: calculates RD maturity amount, total deposits and interest using quarterly compounding — the formula Indian banks and the post office use for recurring deposits.
  • Works for any monthly deposit, interest rate and tenure from 1 month to 30 years, with monthly, half-yearly or yearly compounding as options.
  • Goal mode finds the monthly deposit needed to reach a target amount by a given date.
  • Adds the senior citizen extra of 0.5%, estimates tax at your slab, and flags years where interest crosses the TDS limit (₹50,000; ₹1,00,000 for senior citizens).
  • Shows a chart of deposits and interest, a monthly or yearly schedule you can download as CSV, and the same instalment over 1, 2, 3, 5 and 10 years.
  • Runs in this tab — nothing you enter is uploaded.

RD formula

Each instalment earns compound interest from the month it is deposited until maturity. With quarterly compounding the maturity value is M = R × [(1 + i)ⁿ − 1] ÷ [1 − (1 + i)^(−1/3)], where R is the monthly deposit, i the quarterly rate (yearly rate ÷ 400) and n the number of quarters.

For example, ₹5,000 a month for 5 years at 7% gives about ₹3.60 lakh: ₹3,00,000 of deposits and roughly ₹60,000 of interest. Early instalments earn the most because they stay invested longest.

RD or FD?

Recurring deposit (RD)Fixed deposit (FD)
How you investA fixed amount every monthOne lump sum at the start
Best forSaving from a monthly salaryMoney you already have
Interest earnedLower for the same total, because later instalments earn for less timeHigher, as the whole amount earns from day one
TaxInterest taxed at your slab; TDS above the yearly limitThe same

FAQ

Questions about RD Calculator

Where does RD Calculator run?

RD Calculator runs in this tab on Toolspire. What you type or drop in is not sent to us and is not stored on a server.

How is RD interest calculated?

Banks compound RD interest every quarter. Each monthly instalment earns interest for the time it stays in the account, and the maturity value is the sum of all of them — this calculator uses that standard formula.

How much will I get for ₹1,000 a month for 1 year?

At 8% a year you deposit ₹12,000 and receive about ₹12,529 — ₹529 of interest. Change the rate to match your bank.

Does this work for a post office RD?

Yes. The post office RD runs for 5 years with quarterly compounding — choose 5 years and enter the current post office rate.

What happens if I miss an instalment?

Banks charge a small penalty for late instalments and may close the account after several misses, which reduces the maturity amount. The calculator assumes every instalment is paid on time.

Is RD interest taxable?

Yes. It is added to your income and taxed at your slab rate, and the bank deducts 10% TDS when your interest with it crosses ₹50,000 in a financial year (₹1,00,000 for senior citizens).

Is my data stored?

No. Everything is calculated in this tab.

Keep going

Related tools

FD CalculatorNewFD Calculator on Toolspire: Calculate FD maturity and interest with quarterly compounding, monthly or quarterly payouts, senior citizen rates, tax and TDS.CalculatorsEMI CalculatorNewEMI Calculator on Toolspire. Calculate your loan EMI, total interest and full repayment schedule instantly. See yearly charts.CalculatorsScientific CalculatorNewTrig in degrees or radians, logs, powers, roots, factorial, nCr and nPr, fractions, memory and history. Works on phones.CalculatorsAge CalculatorNewAge Calculator on Toolspire. Calculate your exact age in years, months and days, the next birthday countdown and age on any date.CalculatorsSalary Slip GeneratorNewSalary Slip Generator on Toolspire: Make monthly salary slips as PDF: earnings, PF, ESI, professional tax and TDS worked out, loss of pay and net pay in words.Business ToolsBMI CalculatorNewBMI Calculator on Toolspire: Enter height in feet or cm and weight in kg or lb to see your BMI, WHO or Asian (Indian) category and healthy weight range.Calculators

Open the full directory

Last updated Report a problem or suggest a feature