About the RD Calculator
This works out the maturity value of a recurring deposit (RD) — a savings scheme where you deposit a fixed amount every month and the bank pays interest, compounded quarterly, on the accumulating balance.
How it works
It uses the standard Indian bank RD maturity formula with quarterly compounding: M = R × [ ((1+i)^n − 1) / (1 − (1+i)^(−1/3)) ], where R is your monthly instalment, i is the quarterly interest rate (annual rate ÷ 400), and n is the tenure in quarters (tenure in months ÷ 3).
Assumptions and behaviour
- Uses the standard bank RD formula with quarterly compounding, matching how most Indian banks calculate RD maturity.
- Assumes the same interest rate applies for the whole tenure and every instalment is paid on time.
- Tenure is entered in months.
Limitations
- Doesn't account for TDS (tax deducted at source) on interest earned above the exemption threshold.
- Assumes no missed or delayed instalments — banks may charge a penalty for these.
- Actual maturity value may vary slightly by bank depending on their exact compounding convention.
Privacy
The calculation runs entirely in your browser. Nothing is uploaded or stored.
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