Enter your monthly deposit, interest rate, and tenure. PaisaCalc works out your exact maturity value with quarterly compounding — the same way Indian banks calculate it — plus a year-by-year growth breakdown.
| Year | Opening balance | Deposited | Interest | Closing balance |
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RD interest is added to your taxable income and taxed at your income tax slab — not a flat rate. Pick your slab to see what you'd actually keep.
Most banks apply a penalty by cutting your effective rate if you close the account before maturity — here's roughly what you'd walk away with.
An RD grows through compound interest just like an FD, but because your money goes in gradually every month instead of all at once, each installment earns interest for a different length of time.
Banks compound RD interest quarterly. Each month's deposit sits in the account and starts compounding from the next quarter boundary onward — so a deposit made in month 1 earns interest for longer than a deposit made in month 11:
M = R × [(1+i)n − 1] / (1 − (1+i)−1/3)
Where R is your monthly deposit, i is the quarterly interest rate (annual rate ÷ 4), and n is the number of quarters in your tenure. This calculator runs the actual month-by-month simulation behind this formula, so you can see exactly how each quarter's interest lands.
In an FD, your entire principal earns interest from day one. In an RD, only your first deposit has been sitting in the account since the start — your last deposit has barely had any time to earn interest at all. That's why an RD's total interest is meaningfully lower than an FD of the same total amount and rate: on average, your money is invested for only about half the tenure, not the full tenure.
This is normal and expected — it's simply the tradeoff for being able to save gradually instead of needing a lump sum upfront.
Choose an RD if you're building savings from regular income and don't have a lump sum to deposit today — it enforces monthly discipline at a fixed, guaranteed rate. Choose an FD if you already have a lump sum sitting idle, since depositing it all upfront earns more total interest than spreading the same total amount across monthly RD installments at the same rate. Many people use both: an FD for savings they already have, and an RD to build up the next lump sum.
A Recurring Deposit is a bank savings product where you deposit a fixed amount every month for a chosen tenure, and the bank pays interest on it — similar to an FD, but funded through monthly installments instead of one lump sum.
Indian banks compound RD interest quarterly by default. Each monthly deposit starts earning interest from the next quarter onward, so deposits made earlier in your tenure earn interest for longer than deposits made near the end.
Yes, RD interest is added to your total income and taxed at your income tax slab rate, same as FD interest. Banks deduct TDS if your combined RD and FD interest from that bank crosses the threshold set by the Income Tax Department in a financial year. Use the tax calculator above to see your actual post-tax maturity value at your slab.
Most banks charge a small penalty, typically ₹1 to ₹2 per ₹100 of the missed installment for each month of delay, and usually give you a grace period to catch up before the account is treated as irregular. Repeated missed payments can lead to the bank closing the account early. Check your specific bank's default policy.
Yes, but most banks charge a premature withdrawal penalty that reduces your effective interest rate, typically by 0.5% to 1%, and you only earn interest for the period you actually held the deposit. Use the premature closure calculator above to see exactly what you'd receive.
Yes — most Indian banks offer senior citizens (60+) an additional 0.25% to 0.75% over the standard rate, with 0.50% being the most common bonus. Toggle "I'm a senior citizen" in the calculator above to see how this changes your maturity value.
Free tools, all built the same way — exact date-based math, year-by-year breakdowns, and no signup.
Simple or compound interest by exact date range, with a year-by-year breakdown and chart.
Open →Monthly EMI for home, car, or personal loans — with a full amortization schedule you can expand month by month.
Open →Fixed Deposit maturity value with quarterly compounding by default, matching how Indian banks actually calculate it.
Open →Public Provident Fund maturity value over the 15-year lock-in, at the current government-set rate.
Open →Monthly mutual fund investments, plus unlimited one-time lumpsum top-ups on any date during your tenure.
Open →Increase your SIP every 6 or 12 months in line with salary hikes — and see exactly how much more you end up with.
Open →Withdraw a fixed amount every month from a lump sum, and see exactly how long it lasts — or when it runs out.
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