Recurring Deposit Calculator
Enter your monthly deposit, interest rate, and term to see what a recurring deposit or regular savings plan will be worth at maturity and how much interest it earns.
Overview
A recurring deposit lets you save a fixed amount every month at a guaranteed rate. Banks in many countries offer this as a recurring deposit (RD), a regular saver account, or a monthly savings plan. Each deposit earns interest only from the month it is paid, so the result can't be worked out with the simple lump-sum formula used for fixed deposits.
This calculator compounds every deposit separately from the month it's paid until maturity, so the result matches what banks quote. Recurring deposits are usually compounded quarterly, while many regular saver accounts compound monthly or pay interest yearly, so you can choose the frequency your account uses.
Along with the maturity value and total interest, a table and chart show how much you have paid in and what your balance is at the end of each year, in the currency you choose.
Examples & Sample Data
Five-year monthly savings plan
$500 a month at 4.5% for 5 years, compounded monthly
Deposited $30,000, maturity $33,699, interest $3,699
One-year regular saver
£200 a month at 5% for 1 year, compounded quarterly
Deposited £2,400, maturity £2,466, interest £66
How It Works
- Enter the amount you'll deposit each month, and pick its currency.
- Enter the annual interest rate and the term in years and months.
- Choose how often interest is compounded. Recurring deposits usually compound quarterly.
- The maturity value, interest earned, and yearly schedule update as you type.
Common Use Cases
Saving towards a goal
Find the monthly amount that builds up to a target for a holiday, a gadget, or a down payment.
Comparing savings accounts
Enter each bank's rate and compounding to see which regular savings plan pays more over the same term.
Building a savings habit
See how small monthly deposits grow over several years before committing to a plan.
Tips & Best Practices
- Missing a monthly deposit can mean a penalty or a lower rate on some accounts. Set up an automatic transfer to avoid it.
- Regular saver accounts often cap how much you can pay in each month, so check the limit before comparing rates.
- If you already have a lump sum, compare with the Fixed Deposit Calculator: money deposited up front earns interest for the whole term.
Frequently Asked Questions
Each monthly deposit R grows by (1 + r/n) raised to the number of compounding periods it stays invested, and the maturity value is the sum over all deposits. With quarterly compounding this equals the formula banks publish: M = R × [(1 + i)^q − 1] ÷ [1 − (1 + i)^(−1/3)], where i is the quarterly rate and q the number of quarters.
Only the first deposit is invested for the whole term. Later deposits earn interest for less time, so on average your money is invested for about half the term.
They suit different goals. A recurring deposit gives a guaranteed return with no market risk, while a monthly investment in funds can earn more over long periods but can also lose value. Use the SIP Calculator to compare.
In most countries, yes. Interest is usually counted as taxable income, and some banks withhold tax on it.
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