Recurring Deposit (DPS) Calculator
Calculate the maturity amount of a monthly DPS or recurring deposit.
Enter your values to see the result.
Results are estimates for planning only. Actual figures depend on your lender or bank, fees, rounding and the exact dates used, so confirm the numbers before you sign anything. Deposits are assumed at the start of each month with interest compounded monthly.
Processing and privacy
Processing varies by tool. Check the instructions for local processing, server requests, external services and any file or request limits before entering sensitive information.
Read the privacy policyHow this calculation works
Understand the method, inputs and limits behind your result.
- Formula
- Each month: balance = (previous balance + monthly deposit) × (1 + annual rate/100/12). Contributions are made at the beginning of the month.
- Variables
- Starting deposit (optional)
- Monthly deposit
- Annual interest rate
- Term
- Unit: Years, Months
- Start date
- Units
- Annual interest rate: %
- Use the same selected currency for all monetary inputs. Changing the symbol does not convert exchange rates.
- Example
- Saving 10,000 a month for 5 years at 9% (compounded monthly) builds about 759,900: 600,000 of deposits plus about 159,900 in interest.
- Assumptions
- Results are estimates for planning only. Actual figures depend on your lender or bank, fees, rounding and the exact dates used, so confirm the numbers before you sign anything. Deposits are assumed at the start of each month with interest compounded monthly.
- Source
- ToolzHive calculation guide and calculator implementation. External reference verification is pending.
- Last reviewed
- Review date not yet recorded.
Methodology & References
The method depends on the selected model and input options. Review the assumptions and references above before interpreting the result.
- Enter an optional starting deposit and your monthly deposit amount.
- Enter the annual interest rate and the term in years or months.
- Pick the start date and review the maturity amount and yearly schedule.
Interpretation and limitations
- How is DPS interest calculated? This calculator assumes each deposit is made at the start of the month and interest compounds monthly, the most common method. Some banks calculate differently, so check their schedule.
- What happens if I miss a DPS installment? Banks usually charge a small penalty or reduce the rate. Missing several payments can close the scheme early.
- Is DPS better than a fixed deposit? A DPS suits people who save from their monthly income. A fixed deposit suits a lump sum you already have. Many savers use both.
References
External reference verification is pending. The formula and examples describe the current ToolzHive implementation.
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Clear instructions
Find steps, examples and limitations below.
Use online
Open the tool in a supported web browser.
Free to use
No sign-up required. Tool-specific limits may apply.
How to use the Recurring Deposit (DPS) Calculator
A Deposit Pension Scheme (DPS), also known as a recurring deposit (RD), lets you save a fixed amount every month and earn interest on your growing balance. This calculator shows how much you will have at maturity, how much you deposited, the interest earned and a year-by-year savings schedule. You can also add a starting deposit.
- 1 Enter an optional starting deposit and your monthly deposit amount.
- 2 Enter the annual interest rate and the term in years or months.
- 3 Pick the start date and review the maturity amount and yearly schedule.
Example and practical tips
Saving 10,000 a month for 5 years at 9% (compounded monthly) builds about 759,900: 600,000 of deposits plus about 159,900 in interest.
Frequently asked questions
How is DPS interest calculated?
This calculator assumes each deposit is made at the start of the month and interest compounds monthly, the most common method. Some banks calculate differently, so check their schedule.
What happens if I miss a DPS installment?
Banks usually charge a small penalty or reduce the rate. Missing several payments can close the scheme early.
Is DPS better than a fixed deposit?
A DPS suits people who save from their monthly income. A fixed deposit suits a lump sum you already have. Many savers use both.
Practical guides
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How to Use Recurring Deposit (DPS) Calculator
Calculate the maturity amount of a monthly DPS or recurring deposit with an optional starting deposit, total interest and a yearly savings schedule. Free.
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