RD Calculator
Calculate the maturity amount of your Recurring Deposit — with monthly compounding showing total invested, interest earned, and final corpus.
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How to use this calculator
- 1
Enter the fixed amount you will deposit every month.
- 2
Enter the annual interest rate offered by your bank.
- 3
Set the RD tenure in months (most RDs range from 6 months to 10 years).
- 4
The maturity amount includes your deposits plus compounded interest.
Frequently asked questions
What is the minimum amount for an RD?
Most banks allow RDs starting from ₹100–₹500 per month. Post Office RDs start at ₹100/month. There is no upper limit.
Is RD interest taxable?
Yes — RD interest is taxable as per your income slab. TDS of 10% is deducted if total interest in a financial year exceeds ₹40,000 (₹50,000 for senior citizens). Unlike FDs, banks do not always deduct TDS on RD interest automatically — check with your bank.
Can I withdraw an RD before maturity?
Yes — premature withdrawal is allowed (usually after 3 months) with a penalty. The penalty is typically a reduction of 1–2% on the applicable interest rate for the period held.
RD vs SIP — which is better?
Both involve regular monthly investments. RD offers guaranteed, fixed returns with no risk. SIP in equity mutual funds has historically returned 10–14% p.a. but with market-linked volatility. RD suits conservative investors or short-term goals (under 3 years); SIP suits long-term goals (5+ years).
RD Calculator — Monthly savings with guaranteed returns
How RD interest is calculated
Banks calculate RD interest using monthly compounding. Each installment earns interest from the date of deposit to maturity. The formula compounds monthly, making the effective return slightly higher than the stated rate.
Post Office RD vs Bank RD
Post Office RDs currently offer 6.7% p.a. with sovereign guarantee and no TDS deduction. Bank RDs vary from 5.5% to 8% depending on the bank and tenure. For amounts under ₹10 lakh with a safety priority, Post Office RD is a strong option.
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Results are estimates for informational purposes only and do not constitute professional financial, medical, legal, or technical advice. Read full disclaimer →