Total deposited
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Deposits vs interest
Share of monthly deposits versus interest earned at maturity.
RD growth over time
Watch deposits and compounding build your recurring deposit corpus.
| Year | Deposited | Interest | Corpus |
|---|---|---|---|
| Run a calculation to see the yearly schedule. | |||
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What monthly bank deposits add up to
A recurring deposit is the fixed deposit's counterpart for people saving out of monthly income rather than from a lump sum already in hand. You commit to an instalment for a fixed tenure at a rate agreed upfront, and the maturity amount is known from the start. Enter the instalment, the rate, and the tenure to see the total deposited, the interest earned, and what it matures to.
Why the interest looks lower than you expect
Each instalment earns interest only for the months remaining in the tenure, so your last deposit earns almost nothing. That is why a recurring deposit yields visibly less than a fixed deposit of the same total amount at the same rate — the money simply is not in the bank as long. The calculation follows the standard Indian bank convention of quarterly compounding.
Recurring deposit or SIP?
Both take a fixed amount every month, and the difference is certainty against expected return. A recurring deposit tells you the maturity value on day one; a SIP does not, but has historically earned more over long horizons and can be paused or reduced without penalty. For short goals the certainty is usually worth more than the extra return. To lock a lump sum instead, use the FD calculator.
FAQ
RD calculator FAQs
How is recurring deposit interest calculated?
Indian banks compound it quarterly, using M = R × [(1+i)^n − 1] / [1 − (1+i)^(−1/3)], where i is r/400, n the number of quarters, and R the monthly instalment. Each instalment earns interest only for the time remaining in the tenure, which is why the total interest is lower than an equivalent fixed deposit.
Why does an RD earn less than an FD at the same rate?
Because the money arrives gradually. In a fixed deposit the whole amount earns for the full tenure; in a recurring deposit the first instalment earns for the full tenure and the last for barely a month. Same rate, less time invested, less interest.
Recurring deposit or FD — which should I choose?
It depends on where the money is rather than which is better. Choose an FD if you already hold a lump sum to lock away; choose an RD if you are saving out of monthly income and do not have the full amount yet.
How does this differ from a SIP?
A recurring deposit has a contracted rate and a maturity value you know upfront. A SIP buys mutual fund units at market prices, so returns are not guaranteed but have historically been higher over long horizons. RDs suit short, defined goals; SIPs suit long ones.
Can I close a recurring deposit early?
Banks usually allow premature closure with a penalty or a reduced rate, and missing instalments can attract a small charge too. This calculator assumes you complete the full tenure at the stated rate.