ToolPilot
RD calculator
Estimate recurring deposit maturity in India using the usual bank formula: monthly instalments, interest compounded quarterly (i = r / 400), and tenure in months.
Inputs
₹5,000/month
Results
- Maturity amount
- ₹1,28,425
- Total deposits
- ₹1,20,000
- Total interest earned
- ₹8,425
Deposits vs interest
Share of maturity amount
How it works
Indian banks typically compound RD interest quarterly while you pay monthly. With R as the monthly instalment, annual rate r in percent, quarterly rate i = r / 400, and n as tenure in quarters (months ÷ 3), maturity is:
M = R × [ (1+i)n − 1 ] / [ 1 − (1+i)−1/3 ]
Total deposits equal R × months. Interest is M − total deposits. At 0% rate, maturity equals your deposits.
FAQ
Is this exactly what SBI, HDFC, or ICICI will pay?
The structure matches the widely published Indian RD closed form with quarterly compounding. Individual banks may round instalments, dates, or use minor variant rules—use this as a close estimate, not a final passbook figure.
Why is there a (1+i)−1/3 in the denominator?
Monthly payments fall at different points inside each quarter. The standard formula bundles that pattern into one expression so you do not need a month-by-month loop.
What about TDS and tax on RD interest?
This calculator shows pre-tax maturity. RD interest may be subject to TDS and income tax depending on your profile and bank thresholds.
Can tenure be partial months or odd lengths?
We treat tenure as a whole number of months and set n = months / 3 (including fractional quarters), which aligns with common calculator implementations. Your bank may round quarters differently for very short tenures.