Free DPS (monthly savings scheme) calculator that works for any bank — DPS Calculator
Work out your recurring deposit (DPS) maturity value and interest earned — instantly, for any monthly installment, rate, and tenure.
The tax your bank deducts from the interest at source. Enter 0 if none.
Maturity value is after tax. Tax is taken from the interest only, never from your deposit.
How DPS maturity value is calculated
Because each installment is deposited at a different time, this calculator uses the recurring-deposit annuity formula: Maturity = P × [((1 + i)^n − 1) / i] × (1 + i), where P is your monthly installment, i is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the number of installments.
Total deposited is simply your installment × number of months. The gap between that and the maturity value is the interest your DPS has earned.
If your bank deducts tax at source, it takes a percentage of the interest, not of your deposit. This calculator subtracts that tax from the total interest to show what you actually receive.
A worked example
Save ৳2,000 a month for 5 years (60 installments) at 9% a year. The monthly rate is 9 ÷ 12 ÷ 100 = 0.0075, so maturity = 2,000 × [((1.0075)^60 − 1) / 0.0075] × 1.0075 ≈ ৳1,51,980. You deposit ৳1,20,000 in total, so the DPS earns about ৳31,980 in interest. If your bank deducts 10% tax at source, about ৳3,198 of that goes in tax and you receive about ৳1,48,782.
Never miss a DPS installment again.
Add your DPS to Finox once — installment amount, rate, and tenure. It tracks your contribution progress and estimated maturity value automatically, and reminds you before each installment is due.
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Frequently asked questions
A DPS is a recurring deposit scheme — you deposit a fixed amount every month for a set tenure, and the bank pays it back with interest at maturity. It's built for disciplined, small, regular savings rather than one large lump sum.
Each monthly installment earns interest for a different length of time — the first installment earns interest for the whole tenure, the last for almost none. Banks compound this using an annuity formula, which is what this calculator uses to estimate your total maturity value.
This calculator uses the standard recurring-deposit annuity formula and gives a close estimate. Individual banks may round differently or use slightly different compounding conventions, so treat this as an estimate and confirm the exact figure with your bank.
Policies vary by bank, but most charge a small penalty fee for a missed or late installment, and some may reduce the effective interest rate. This calculator assumes every installment is paid on schedule.
It depends on your country. In Bangladesh, banks deduct tax at source from deposit interest: as of 2026, 10% for individuals, or 15% if you cannot show proof of a submitted tax return. It is a tax on the interest only — it is not VAT, and nothing is taken from your deposit. Rates can change with each budget, so confirm with your bank. Other charges, such as the yearly excise duty on the balance, are not included here.
Yes — add your DPS to Finox once (installment amount, rate, tenure) and it tracks your contribution progress and estimated maturity value automatically, and reminds you before each installment is due.
Have a lump sum instead? Try the FDR calculator →