RD Calculator (Recurring Deposit Maturity)
Enter the monthly deposit, interest rate and tenure in months.
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RD Calculator (Recurring Deposit Maturity) by TheCalcTools
How the RD Calculator (Recurring Deposit Maturity) works
Each monthly deposit earns interest from the month it is paid, compounded quarterly. A deposit with k months left grows by (1 + r ÷ 4)^(k ÷ 3). Adding all deposits gives the maturity value.
This equals the formula banks publish: M = R × ((1 + i)^n − 1) ÷ (1 − (1 + i)^(−1/3)), with i = r ÷ 400 and n the number of quarters.
The formula
Worked example
Using the default values shown in the calculator:
| Monthly deposit | $5000 |
|---|---|
| Interest rate (yearly) | 6.7 % |
| Tenure (months) | 60 |
- 5,000 a month for 60 months at 6.7%: maturity $356,829.14.
- You deposit $300,000.00 and earn $56,829.14 interest.
Result:
| Maturity value | $356,829.14 |
|---|---|
| Total deposited | $300,000.00 |
| Interest earned | $56,829.14 |
Frequently asked questions
What happens if I miss an instalment?
Banks may charge a small penalty per missed instalment, and several missed instalments can close the account. Check your bank’s terms.
Sources and further reading
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This calculator gives estimates for information only. It is not financial advice, and your lender's or provider's figures will govern. Rates, fees and rules vary. See our disclaimer.