Work out what a monthly recurring deposit grows to — maturity value, total deposited and interest earned.
How to use this tool
The fixed amount you put in each month. Recurring deposits usually require the same amount every month.
The annual interest rate quoted by the bank and how many months you will keep depositing.
The headline figure is what you get at the end, split into what you put in and the interest it earned.
Try a longer term or a higher deposit to see compounding at work — later deposits earn interest for less time, so early months matter most.
Formula & worked example
$500 per month at 6% per year for 12 months: monthly rate 0.5%, maturity = 500 × ((1.005¹² − 1) ÷ 0.005) × 1.005 = $6,198.62. Total deposited $6,000, interest earned $198.62.
Limitations — read this before you rely on it
This assumes a fixed rate, deposits at the start of each month, monthly compounding and no withdrawals, fees or tax — real recurring-deposit accounts may compound quarterly, deduct tax on interest, or penalise missed deposits, so check the bank's terms. Rates quoted by banks are often nominal annual rates; the effective return differs slightly with the compounding frequency.
Frequently asked questions
A savings account where you deposit a fixed amount every month for a fixed term and earn interest on it — popular in India and offered by many banks elsewhere as a regular-saver account.
Because each deposit is made at the start of the month, so it earns interest for that month too. Deposits at the end of the month would use the same formula without that factor.
In many countries yes — this calculator shows interest before tax. Subtract your marginal tax rate's share for the after-tax figure.
Banks often charge a penalty or reduce the rate, and the maturity value falls. This calculator assumes every deposit is made on time.
A lump sum earns interest on the whole amount from day one, so it grows faster than the same total dripped in monthly — the trade-off is that a recurring deposit suits a monthly salary.