Recurring deposit maturity with quarterly compounding, quarter by quarter
Estimates only, not financial advice. What you type stays on your device. Updated on 24 Oct 2026.A recurring deposit takes a fixed amount every month and compounds quarterly, which is why maturity is never simply the total paid in. Putting 5,000 a month aside for 5 years contributes 3 lakh of your own, and the interest is shown quarter by quarter.
Pick a monthly deposit chip, or set the "Monthly deposit" slider.
Set the "Interest rate" to the rate your bank quotes for this tenure.
Set the "Tenure" in months.
Read the Maturity value, "Total deposited" and "Interest earned", and open "Quarter by quarter" for each quarter's balance.
Press Share result to copy a link with these inputs.
The RD calculator estimates the maturity value of a recurring deposit: a fixed amount paid into a bank every month for a fixed term at a fixed rate. You get the maturity amount, what you deposited, the interest earned, and a table showing the balance at the end of every quarter.
People use it to plan for a known expense, such as school fees or a holiday, or to compare the rates offered by two banks. ₹5,000 a month for 36 months at 7% matures to about ₹2,00,691, of which ₹20,691 is interest.
How it is worked out, in plain text: each instalment is paid at the start of the month. Every month, interest = balance × rate ÷ 12. At the end of every third month the interest built up is added to the balance, so it earns interest too (quarterly compounding, as Indian banks use for RDs). Interest from a part quarter is added at maturity. The formula many bank calculators print, maturity = Σ R × (1 + r/4)^(m/3) over every instalment R held for m months, lands within a few rupees.
Banks count interest by days and treat part quarters slightly differently, so your bank's figure can differ by a few rupees. Penalties for late instalments are not included.
RD interest is taxable. Banks deduct TDS when the interest they pay you in a year crosses the limit in the income tax rules; if your income is below the taxable limit, ask the bank for the declaration form that stops it. Estimates only, not financial advice.
Sources: the Reserve Bank of India's directions on interest rates on deposits; the recurring deposit terms published by banks, which state quarterly compounding; the Income Tax Department for TDS on interest.
Banks work out interest on your balance every month at the yearly rate divided by 12 and add it to the balance every quarter. Each instalment earns interest from the month it is paid, so early instalments earn much more than late ones. The table shows the balance after every quarter.
At 7% a year, ₹5,000 a month for 36 months matures to about ₹2,00,691, of which ₹20,691 is interest. For 60 months at the same rate it is about ₹3,59,672. Use your bank's actual rate for your tenure.
Banks count interest by days rather than months and round at different steps, and some treat the last part quarter differently. The difference is usually a few rupees. The bank's deposit receipt is the final word.
Yes, when the total interest a bank pays you in a financial year crosses the limit set in the income tax rules; the limit is higher for senior citizens. If your total income is below the taxable limit, you can ask the bank for the declaration form that stops the deduction. RD interest is taxable either way.
Recurring deposits and SIPs do different jobs. An RD pays a rate the bank fixes when you open it, so the maturity amount is known on day one, which suits a goal two or three years away. A SIP in a mutual fund can grow more over long periods, but its value moves with the market and can fall.
Yes, with no signup and no limit on use. Share copies a link that restores the monthly amount, rate and tenure you entered, so you can send a colleague the same working. Everything is worked out in your browser, and nothing you type is sent to a server or stored here.
Formula only: no rates or limits are read from an official source.
Still stuck? Ask about RD Calculator and anybody who knows can answer. No account needed.
Also works as: Recurring Deposit Calculator.
Same job, other tools: High-Yield Savings Calculator – See what a HYSA pays against an ordinary account, using the APY on your own offer · FD Calculator for Senior Citizens – Senior citizen FD interest, monthly or quarterly, with the extra rate added · FD Interest Calculator – Monthly or quarterly interest from a fixed deposit, and the total over the term.
On the related tools: Step-up SIP Calculator – See how raising your SIP every year changes the final corpus.
In the collections Investment Calculators · Savings and Deposit Calculators.