# RD Calculator: Recurring Deposit Maturity Amount > RD calculator for bank recurring deposits: enter the monthly deposit, rate and tenure to get the maturity value and interest, with quarterly compounding. Source: https://trykosh.com/tools/rd-calculator Free tool - Investing # RD calculator See what a bank recurring deposit pays at maturity. Enter your monthly instalment, the bank's RD rate and the tenure in months. Rules checked 25 October 2026Free - no sign-upRuns in your browser Maturity amount INR 1,29,099 INR 9,099 interest on INR 1,20,000 deposited RD interest is taxable at your slab and attracts TDS like an FD once your interest from the bank crosses the yearly threshold. Total deposited**INR 1,20,000** Interest earned**INR 9,099** Rate applied**7%** Deposits **INR 1,20,000**Interest **INR 9,099** Balance at each year-end Year Deposited Balance Year 1 INR 60,000 INR 62,311 Year 2 INR 1,20,000 INR 1,29,099 Each instalment earns interest compounded quarterly from the month it's paid. For comparison, the post office 5-year RD pays 6.7% for October-December 2026. ## Upload your statement and Kosh does this for you. Upload your statements and Kosh tracks every SIP, FD and deposit in one place, and shows how far you are from each goal. [Start free](/signup?via=tool-rd-calculator) ## How the RD calculator works A recurring deposit (RD) takes a fixed amount from your account every month for a set number of months and pays it all back with interest at maturity. The rate is fixed for the whole term on the day you open it. Indian banks compound RD interest quarterly. Each instalment earns interest from the month it's paid, so the first instalment earns for the full tenure and the last for one month. The calculator grows each instalment by (1 + r / 400) raised to its months / 3, and adds them up. That's the same result as the standard bank formula. Tenures usually run from 6 months to 10 years, in multiples of three months. Senior citizens usually get the same extra rate on RDs that they get on FDs. RD interest is taxable at your slab every year, and banks deduct TDS on it in the same way as on FDs, counting your RD and FD interest from that bank together. M = R x \[(1 + i)ⁿ − 1\] / \[1 − (1 + i)^(−1/3)\] R monthly instalment i quarterly rate = yearly rate / 400 n number of quarters ## Worked example: Divya saves for a holiday Divya, 28, a nurse in Kochi, opens a 3-year RD of INR 10,000 a month at 6.8%. She deposits INR 3.6 lakh in all and gets about INR 4,00,118 back at maturity, so INR 40,118 is interest. Since an RD's interest is only on money that's been deposited, it's far less than 6.8% of INR 3.6 lakh for three years. Maturity amount INR 4,00,118 INR 40,118 interest on INR 3,60,000 deposited RD interest is taxable at your slab and attracts TDS like an FD once your interest from the bank crosses the yearly threshold. Total deposited**INR 3,60,000** Interest earned**INR 40,118** Rate applied**6.8%** Deposits **INR 3,60,000**Interest **INR 40,118** Each instalment earns interest compounded quarterly from the month it's paid. For comparison, the post office 5-year RD pays 6.7% for October-December 2026. [Load this example into the calculator ->](?monthly=10000&rate=6.8&months=36#calculator) ## Good to know - A missed instalment usually attracts a small penalty per month of delay, and several missed instalments can lead the bank to close the RD. - Premature closure is allowed at most banks with a penalty on the rate, similar to an FD. - Compare with the post office 5-year RD, whose rate is set by the government each quarter, and with a SIP in a debt fund if you're comfortable with market-linked returns. - Some banks offer flexible RDs where you can deposit more than the fixed instalment in some months. ## Frequently asked questions How is RD interest calculated? Each monthly instalment earns interest compounded quarterly from the month it's paid until maturity. The maturity value is the sum of all instalments with their interest. Most banks use the formula M = R x \[(1 + i)ⁿ − 1\] / \[1 − (1 + i)^(−1/3)\], where i is the quarterly rate. Is TDS deducted on RD interest? Yes. Since 2015, RD interest is treated like FD interest for TDS. If your combined interest from one bank exceeds INR 50,000 in a financial year (INR 1 lakh for seniors), the bank deducts 10%. Is RD better than SIP? An RD gives a guaranteed rate and is suited to short-term goals. A SIP in an equity fund has no guarantee but has historically grown more over long periods. For goals under three years, an RD's certainty often matters more. What happens if I miss an RD instalment? Banks usually charge a small penalty for each month an instalment is late. If you miss several in a row, the bank may close the RD and pay you the balance with interest at a reduced rate. ## Sources and assumptions - [Reserve Bank of India](https://www.rbi.org.in/) Rules and rates last checked on 25 October 2026. Results are estimates for planning and education, not tax, legal or investment advice. Kosh is an educational financial planning tool by Primedepth Labs. It is not a SEBI-registered investment adviser and does not offer personalised investment advice, hold your money or execute trades. Markets carry risk; read scheme documents carefully and consult a registered adviser before acting.