5,000 a month at 7% for 5 years
$5,000.00 a month at 7% for 5 years, compounded quarterly.
Maturity $359,663.95. You put in $300,000.00. Interest $59,663.95.
RD calculator
The same installment every month. Interest compounds quarterly, which is the usual recurring-deposit convention, and the maturity includes every installment.
Symbol only. Amounts are not converted.
%
Maturity
$359,663.95
60 installments.
- You put in
- $300,000.00
- Interest
- $59,663.95
Next: SIP calculatorA stated return, instead of the bank rate.
Installment at the start of each month. The annual rate compounds quarterly, converted to the monthly rate that matches that quarter. No tax.
How this is calculated
- Step 1
Each month
The installment is added at the start of the month.
- Step 2
Quarterly rate
The bank rate is turned into the monthly rate that matches a quarter.
- Step 3
Maturity
Installments plus interest. A missed month is not modeled.
Monthly annuity at the quarterly-equivalent rate
i = (1 + r ÷ 4)^(1 ÷ 3) − 1; maturity = P × (((1 + i)^n − 1) ÷ i) × (1 + i)
| P | Monthly installment. |
|---|---|
| r | Annual interest rate as a decimal. |
| n | Number of months. |
Dividing the annual rate by 12 would understate a deposit that compounds quarterly. The page converts the quarterly rate into the monthly rate that compounds to the same quarter.
A SIP uses a return you hope for, compounded every deposit. An RD uses a fixed bank rate. The installment habit is similar. The SIP calculator is the investment version. A single principal is the FD calculator.
Worked examples
Loading an example fills the tool and scrolls you back to the result. Money examples stay in US dollars on the page. The symbol you picked changes; the numbers do not convert.
1,000 a month at 7.5% for one year
$1,000.00 a month at 7.5% for 1 years, compounded quarterly.
Maturity $12,495.69. You put in $12,000.00. Interest $495.69.
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<iframe src="/embed/rd" title="RD calculator" width="100%" height="720" style="border:0;max-width:42rem" loading="lazy"></iframe>Questions
Why is the maturity higher than installment times months?
That difference is interest. At a 0% rate the maturity equals the installments and nothing more.
Does this match every bank to the rupee?
Banks differ on whether the installment is credited at the start or the end of the month, and on how they round. This page states the start-of-month, quarterly-compounded version. A passbook can disagree by a small amount.
What if I invest once instead of every month?
That is a fixed deposit, not a recurring deposit. Use the FD calculator.