RD calculator

Default result

₹5,000/month for 5 years at 6.5% matures at about ₹3.55 L.

Rate used here: the bank RD rate you type (illustration, confirm the current card rate).

RD vs SIP: the RD matures at about ₹3.55 L at the bank rate you entered. The same ₹5,000/month as a mutual fund SIP at an assumed 12% could grow to about ₹4.06 L, with market risk and different tax rules.

Year-wise table

Computed from the same engine as the calculator above, using the default inputs. Figures are illustrations, not guarantees.

How to use this calculator

1. Enter the monthly RD deposit.
2. Set the annual rate and years.
3. Read maturity and compare with a similar SIP on the SIP calculator.

Formula and worked example

Uses Groww’s bank RD month-by-month model: each monthly instalment compounds at the quarterly rate r/400 for the remaining tenure, with per-step rounding so maturity matches Groww to the rupee.

Month-by-month (Groww live RD calculator):
  M = Σₖ₌₁..₁₂ₜ  round_step( R × (1 + r/400)^(4k/12) )
  R = monthly deposit   r = annual rate %   t = years
Each instalment compounds at the quarterly bank rate for the months it remains.

Worked example. ₹5,000/mo · 6.5% · 5 years → ₹3,54,957. Matches Groww to the rupee.

Examples

Common Indian retail queries. Outputs are generated from lib/finance.js at build time.

Assumptions and limits

• Monthly deposits, quarterly compounding — the bank RD standard (Groww).
• RD interest is taxable at your slab.
• Rate used here: the bank RD rate you type (illustration, confirm the current card rate).
• Monthly deposits with quarterly bank-style compounding.
• Interest taxable at your slab.

Results are illustrations. Actual outcomes depend on markets, interest rates, taxes and charges, none of which are guaranteed.

Recurring deposit calculator

Recurring deposits suit people who want fixed returns with a monthly saving habit. ₹5,000 a month for 5 years at 6.5% matures near ₹3.55 lakh, with interest about ₹54,957. Confirm your bank’s live RD rate for the tenor; the input is not auto-updated. RDs lack market upside—and downside—so they fit near-term goals better than long equity horizons. Write the rd inputs you trust into your annual review note so next year’s rerun of “Recurring deposit calculator” starts from recorded figures.

RD vs SIP: when each fits

RD vs SIP is a risk conversation. The RD path here finishes about ₹3.55 lakh on the defaults. A mutual fund SIP of the same ₹5,000 at a higher assumed return can grow more, with volatility and different tax rules—see the on-page comparison sentence. Choose RD when the goal is under three to five years and capital protection matters more than maximising return. When household opinions differ on risk for rd under “RD vs SIP: when each fits”, fund the more conservative case first and treat any extra debit as optional top-ups.

Using the RD calculator with Indian rupee inputs

Enter the monthly rupee debit, annual percent rate and tenure in years. The engine follows a bank-style monthly deposit model with quarterly compounding cues. Defaults produce roughly ₹3.55 lakh. If your bank quotes a daily-balance product, reconcile once with their schedule. Tax on interest can shrink the real advantage versus a debt mutual fund—run the numbers post-tax if you are in a high slab. If the rd instalment for “Using the RD calculator with Indian rupee inputs” looks unaffordable, cut the target or add years before you inflate the assumed return unrealistically.

Frequently asked questions