Enter your monthly deposit, interest rate, and tenure in months to calculate the maturity value under quarterly compounding.
⚠️ This calculator provides an estimate based on India's government/financial schemes using publicly available 2026 rates. Actual amounts may differ due to scheme changes or individual circumstances — please verify with an official source or financial advisor.
A Recurring Deposit (RD) is a popular Indian savings product where you deposit a fixed amount every month and receive principal plus interest at maturity. Unlike PPF or EPF, there is no government-set rate — each bank or cooperative bank sets its own rate, which can change with market conditions. Interest is typically compounded quarterly (every 3 months).
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Maturity Value Formula
This calculator reflects quarterly compounding and monthly deposit timing with M = R×((1+i)^(n/3)−1)÷(1−(1+i)^(−1/3)), where R is the monthly deposit, n is months, and i is annual rate ÷ 400. Bank deposit dates and rounding can produce small differences.
Frequently asked questions
Why doesn't RD have a fixed interest rate?
Unlike PPF or EPF, RD is not a government-mandated scheme — each bank sets its own rate, which can vary by bank, tenure, and customer type (regular/senior citizen). Check your bank's published rate before opening an account.
Is this calculator's formula accurate?
It reflects quarterly compounding and monthly deposit timing. Exact deposit dates, rounding, and product rules vary, so confirm the final maturity amount with your bank.
What happens to interest if I close the RD early?
This calculator assumes deposits continue to maturity without interruption. Most banks apply a lower rate or a penalty for premature closure — check separately with your bank.
