RD Calculator - Recurring Deposit Maturity Calculator
Calculate your Recurring Deposit maturity amount and interest earned. Plan your monthly savings with our free RD calculator.
Calculate RD
Amount you deposit every month
Annual interest rate offered by the bank
Duration of your recurring deposit
Maturity Amount
₹7,19,328
Total Deposited
₹6,00,000
Interest Earned
₹1,19,328
How to Use This RD Calculator
Using our RD Calculator is simple and takes just a few seconds. Enter your values using the sliders or input fields above, and the results will update instantly — no need to click a calculate button.
All calculations are performed in your browser using standard financial formulas. Your data is never stored or transmitted to any server, ensuring complete privacy.
The results shown are estimates based on the inputs you provide. For precise figures, consult with your bank or financial advisor. Use this tool for quick comparisons, planning, and understanding how different variables affect your financial outcomes.
Formula & Explanation
M = R × [(1 + r/n)^(nt) - 1] / (1 - (1 + r/n)^(-1/3))Where M = Maturity amount, R = Monthly deposit, r = Annual interest rate / 100, n = Compounding frequency (4 for quarterly), t = Tenure in years. Interest is compounded quarterly for most banks.
Calculation Examples
5-Year Monthly RD
₹10,000/month RD at 7% for 5 years
Maturity: ₹7,19,048 | Interest: ₹1,19,048
Benefits
- Build savings discipline
- Guaranteed returns
- Start with small amounts
- Flexible tenure options
- No market risk
Use Cases
- Monthly savings plan
- Emergency fund building
- Short-term goals
- Children's education fund
- Regular income savings
About RD Calculator
Our RD Calculator helps you estimate the maturity amount of your Recurring Deposit. Calculate how much you'll earn by depositing a fixed amount every month. Compare RD returns across different banks and plan your savings goals effectively.
Frequently Asked Questions
A Recurring Deposit (RD) is a savings scheme offered by banks and post offices where you deposit a fixed amount every month for a predetermined period (6 months to 10 years). It earns compound interest similar to a Fixed Deposit and is ideal for building savings discipline with small monthly contributions.
Most banks allow RD starting from ₹100 to ₹500 per month with no upper limit. Minimum tenure is typically 6 months and maximum is 10 years. Post office RD requires minimum ₹100/month with a 5-year tenure. Some banks offer flexible RD where you can vary monthly amounts.
RD interest is compounded quarterly in most banks. Each monthly deposit earns interest for the remaining tenure. The effective return is slightly lower than FD because later deposits earn interest for fewer months. For example, in a 12-month RD, the first deposit earns 12 months of interest but the last deposit earns only 1 month.
Yes, RD interest is fully taxable as 'Income from Other Sources' as per your income tax slab. TDS of 10% is deducted if total interest across all FDs and RDs in a bank exceeds ₹40,000 per year (₹50,000 for senior citizens). You can submit Form 15G/15H to avoid TDS if your total income is below taxable limit.
RD offers guaranteed returns with zero risk, making it suitable for short-term goals (1-3 years) and conservative investors. SIP in mutual funds offers potentially higher returns (12-15% historically) but with market risk, making it better for long-term goals (5+ years). For emergency funds and short-term goals, RD is safer. For wealth creation, SIP is better.
Yes, premature withdrawal is allowed but attracts a penalty of 0.5% to 1% on the applicable interest rate. Some banks may also reduce the interest rate to the rate applicable for the actual period the RD was held. It's better to take a loan against RD (up to 90% of deposit value) instead of breaking it.