This DPS calculator and RD calculator shows what a fixed monthly deposit will be worth at maturity. In Bangladesh these schemes are called DPS (Deposit Pension Scheme); in India they are Recurring Deposits (RD). The idea is the same: you deposit an installment every month and earn interest on the growing balance.
How it is calculated
Each monthly installment earns interest for the number of months it stays in the account: Maturity value = Σ P × (1 + r/n)n × m/12, where m is how many months that installment was deposited. The first installment earns interest for the full term, the last one for a single month.
Example
Depositing 5,000 a month for 5 years at 8% a year with quarterly compounding means 3,00,000 deposited and an estimated maturity value of about 3,69,309.
Frequently asked questions
Why doesn’t this match my bank’s DPS chart?
Many banks publish fixed DPS charts that already account for their compounding method, source tax and excise duty. Try changing the compounding option; if a gap remains, your bank’s chart is the final figure.
What happens if I close a DPS early?
Banks usually pay a lower rate or apply a penalty on early closure. Rules differ from bank to bank, so check your account terms.
Disclaimer: results are estimates only; taxes and charges are not included.