Work out the maturity amount and interest on a monthly RD. Everything runs in your browser — no signup required.
This is an estimate. Fees, charges, surcharge and your provider's own rules can change the actual figure.
An RD is for people who want to save a little every month rather than a large amount at once. Each instalment earns interest for whatever time is left in the tenure — so the first instalment earns the most interest and the last one the least.
For each instalment: M = P × (1 + r/4)^(4t)
Each monthly deposit has its own remaining time t; the total is the sum of every instalment's maturity value.
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An FD takes the whole amount in one deposit; an RD takes one instalment every month. An FD earns more total interest because the full amount is invested for the entire period.
Most banks charge a late fee, and repeated misses can lead to the account being closed prematurely. Setting up auto-debit is the safest approach.
Yes. RD interest is also added to your income and taxed at your slab rate.