Recurring deposit calculator
See what saving a fixed amount every month grows to. Enter your monthly deposit, the rate, and the term to find the maturity value.
This tool involves interest (riba) and is shared for educational and informational purposes only — it is not financial advice. Interest-based finance is not permissible in Islam; please consider Shariah-compliant alternatives.
How RD maturity works
Every instalment is invested for a different length of time — the first deposit earns interest for the whole term, the last for just one month. Adding up the grown value of each deposit gives the maturity amount, and the interest earned is that total minus everything you put in.
FAQs about recurring deposits
How is RD maturity calculated?
Each monthly deposit earns interest for the months remaining until maturity. This tool adds up the future value of every instalment using monthly compounding to give the maturity amount.
How is an RD different from an FD?
A fixed deposit is a single lump sum locked in at the start. A recurring deposit is a fixed amount saved every month, so it suits people building savings from regular income.
Can I change my monthly deposit later?
No. An RD instalment is fixed for the whole term once you open it. If your needs change, you usually open a new RD rather than altering the existing one.
Is RD interest taxable?
Usually yes — interest on a recurring deposit is treated as income and taxed accordingly. Depending on where you live, tax may also be withheld at source once interest passes a yearly threshold.
What rate should I enter?
Use the rate your bank quotes for the RD term. Rates are similar to fixed deposits and often range between 6% and 7.5% a year.