Fixed deposit
See what a bank fixed deposit pays when it matures, with interest added on as it compounds.
Savings and loans
Recurring deposit calculator
See what a bank recurring deposit pays at maturity, with interest added every quarter.
a month
% a year
Your bank sets this. Enter the rate on your deposit receipt or the bank's rate card.
months
Between 6 months and 10 years (120 months).
In today’s money
Depositing ₹5,000 a month for 5 years at 6.5% a year grows to ₹3.55 lakh at maturity. You would deposit ₹3 lakh.
- Amount deposited
- ₹3,00,000≈ ₹3 lakh
- Interest earned
- ₹54,954≈ ₹54,954 · 18% on what you deposited
- Amount at maturity
- ₹3,54,954≈ ₹3.55 lakh
Growth, year by year
Tap or hover the chart, or use the slider, to read any year.
- Value of the deposit
- Amount deposited
After 5 years
Value of the deposit
₹3,54,954
Amount deposited
₹3,00,000
Year-by-year table
| Year | Value of the deposit | Amount deposited |
|---|---|---|
| 0 | ₹0 | ₹0 |
| 1 | ₹62,143 | ₹60,000 |
| 2 | ₹1,28,425 | ₹1,20,000 |
| 3 | ₹1,99,122 | ₹1,80,000 |
| 4 | ₹2,74,527 | ₹2,40,000 |
| 5 | ₹3,54,954 | ₹3,00,000 |
Where the total comes from
Tap a segment to see its rupees.
Interest earned₹54,95415% of total
Of the ₹3,54,954 at maturity, ₹3,00,000 is the money you deposited and ₹54,954 is interest.
What this assumes
- One deposit is made at the start of every month, and none is missed.
- Interest compounds every quarter, as banks usually do, at a rate that stays the same.
- Tax on the interest and penalties for late or missed deposits are not taken into account.
What next
PPF
Project the balance in a Public Provident Fund account over its 15-year term.Sukanya Samriddhi
Project the balance in a Sukanya Samriddhi account when it matures 21 years after opening.SIP
See what a fixed monthly investment in a mutual fund could grow to, for a return you assume.
How it works
A recurring deposit takes a fixed amount from you every month for a set number of months. There is no official rate: each bank sets its own, so you type in the rate your bank offers. Banks usually add interest every quarter, so each monthly instalment grows for the months it stays in, at the quarterly rate.
Instalment value = deposit x (1 + r ÷ 4)^(4 x months in ÷ 12)
The maturity amount is the sum of that value for every instalment. An instalment paid at the start of the first month stays in for the whole tenure; the last one stays in for one month.
A worked example
₹5,000 a month for 60 months at 6.5% a year, with interest added every quarter, matures at ₹3,54,954 (₹3.55 lakh). You deposit ₹3,00,000, so the interest is ₹54,954.
Tax on the interest, for information
- A bank deducts tax at source (TDS, section 194A of the 1961 Act, section 393(1) of the Income-tax Act, 2025) at 10% when the interest it pays you in a year is more than ₹50,000, or ₹1,00,000 for a senior citizen, counted across all your deposits with that bank. This page does not work out your tax.
What it leaves out
- Tax on the interest, including TDS.
- Penalties for a late or missed monthly deposit, and the lower rate on early closure.
- The exact day each deposit is made. Months are counted as equal.
- Rate changes. The rate is fixed when you open the deposit.
Questions people ask
Which rate should I enter?
The rate on your recurring deposit receipt or your bank’s rate card for the tenure you want. Rates differ by bank and tenure and change over time. This page does not know any bank’s rate.
Why is the interest less than on a fixed deposit of the same total?
Each instalment is in the bank for a shorter time than a lump sum put in on day one. Only the first instalment earns for the whole tenure.
What if I miss a monthly deposit?
Banks usually charge a small penalty for each late or missed deposit, and the maturity amount can be lower. This page assumes every deposit is made on time.
Why does the bank’s maturity figure differ slightly?
Banks round interest each quarter and count days in their own way. This page works in whole months and rounds only at the end.
Will tax be deducted?
Banks deduct tax at source when the interest paid to you in a year goes above ₹50,000 (₹1,00,000 for senior citizens), across your deposits with that bank. Interest below that is still part of your income. Tax rules change, so check the current rules.