A Recurring Deposit (RD) lets you build savings with a fixed monthly deposit at a guaranteed interest rate — the bank FD's disciplined sibling. Enter your monthly deposit, the annual rate and the tenure to see the total invested, interest earned and maturity value, calculated with quarterly compounding like Indian banks use.
The fixed amount deposited every month.
RD rates usually match the bank's FD rates for the same tenure.
RD tenures typically run from 6 months to 10 years.
Maturity value
₹3,60,615
What you receive when the RD matures.
Estimates only, using quarterly compounding. Actual maturity depends on your bank's rate and terms. Not financial advice.
Banks compute RD maturity with quarterly compounding on monthly deposits:
M = R × ((1 + i)n − 1) ÷ (1 − (1 + i)−1/3)
Total invested = R × months. Interest earned = M − total invested. The −1/3 exponent adjusts for deposits made monthly within each quarter.
Deposit ₹5,000 per month at 7.1% per annum for 5 years:
Maturity value is your payout at the end of the tenure. Total invested is your own deposits; interest earned is the bank's contribution.
RDs suit goal-based saving from monthly income — a child's school fees next year, a gadget fund — where you want zero market risk. If the goal is more than 5 years away, compare with a PPF or SIP: the RD's guaranteed return is lower, and inflation eats a bigger share of it.
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Content last reviewed on 2026-10-06.