Recurring Deposit (RD) Calculator
Calculate the maturity value and interest earned on a recurring deposit with regular monthly installments.
Results
What is it?
A Recurring Deposit (RD) is a savings product where you deposit a fixed amount every month for a predetermined period and earn interest on the accumulated balance. It is similar to a systematic savings plan or annuity.
How to use
Enter the amount you plan to deposit each month, the annual interest rate offered, and the term in months. The calculator uses the annuity future value formula to project the maturity amount and total interest earned.
Example scenario
Depositing $500/month at 6% annual interest for 24 months results in approximately $12,722 at maturity. Total deposited is $12,000, so interest earned is about $722.
Pro tip
Compare RD rates across banks — online banks often offer 0.5-1% higher rates. Consider a SIP (Systematic Investment Plan) in index funds for potentially higher long-term returns if you can tolerate market volatility.