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CalcTortoise

Recurring Deposit Calculator

See what a fixed monthly deposit grows to by the end of its term, and how much of it is interest.

Written by the CalcTortoise editorial team · How we work

Use the rate your bank offers. Interest is compounded quarterly here.

months

Maturity amount

$7,660

Total deposits
$7,200
Interest earned
$460
Term
3 years

Illustration only, not investment, tax or legal advice.

What moves the result most?
What your maturity amount is made of
  • Deposits$7,200 (94%)
  • Interest$460 (6%)
Value at the end of each yearDepositsInterest

Year-by-year balance

YearDepositsInterestBalance
Year 1$2,400$52$2,452
Year 2$4,800$205$5,005
Year 3$7,200$460$7,660

How to use this calculator

  1. Enter the amount you will deposit each month.
  2. Enter the annual rate the bank offers and the term in months.

Frequently asked questions

What is a recurring deposit?

A savings account in which you pay in the same amount every month for a fixed term, at a rate fixed when you open it. At the end you receive your deposits plus the interest.

How much will it be worth?

$200 a month at 4% for 36 months matures to $7,660. Over 72 months it would reach $16,292.

How is the interest worked out?

Each monthly deposit earns interest from the month it is paid in, compounded quarterly. Banks in some countries compound differently, so expect small differences from your bank’s figure.

Is tax included?

No. Interest may be taxable where you live.

Sources and method

Standard compound-interest formulas, tested against worked examples. Nothing here depends on outside data; the rates you type in are your own assumptions.

No outside data is used. The numbers you type in are the only inputs.

Page and formula last reviewed . How we calculate · Editorial policy · Corrections and change log

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Last updated 9 October 2026. For information only — not financial advice. Check the final figures with your lender or bank.