Recurring Deposit Calculator
Calculate your RD maturity value and interest earnings. Build wealth systematically with disciplined monthly savings through Recurring Deposits.
Calculate RD Returns
Enter your RD details to calculate maturity amount and interest earned
RD Summary
Enter your RD details
to see maturity amount
Bank RD Rates Comparison
| Bank | 1 Year | 2 Years | 3 Years | 5 Years |
|---|---|---|---|---|
| SBI | 6.80% | 7.00% | 6.50% | 6.50% |
| HDFC Bank | 7.00% | 7.10% | 7.00% | 7.00% |
| ICICI Bank | 6.90% | 7.10% | 7.00% | 6.90% |
| Axis Bank | 7.10% | 7.25% | 7.10% | 7.10% |
| Post Office RD | 6.70% | 6.70% | 6.70% | 6.70% |
* Rates are indicative and subject to change. Senior citizens get additional 0.25-0.50%
Why Choose Recurring Deposits?
Disciplined Savings
RD instills financial discipline through fixed monthly contributions, helping you build savings systematically.
Capital Safety
RDs offer guaranteed returns and are insured under DICGC up to ₹5 lakhs, ensuring complete capital protection.
Flexible Tenure
Choose tenure from 6 months to 10 years with flexible monthly deposit amounts starting from just ₹100.
Loan Facility
Get up to 90% loan against your RD balance at nominal interest rates for emergency fund requirements.
Recurring Deposit (RD)
- Regular monthly deposits
- Ideal for salaried individuals
- Builds savings discipline
- Lower minimum investment
- Lower overall returns than FD for same total amount
Fixed Deposit (FD)
- Lump sum one-time deposit
- Ideal for lump sum amounts
- Higher overall returns
- Tax-saver option available
- Requires larger initial capital
How RD Interest is Calculated
RD Maturity Value Formula
Maturity Value = P × (1 + r/n)^(nt) + P × (1 + r/n)^(nt-1) + ... + P
Where:
- P = Monthly installment amount
- r = Annual interest rate (in decimal)
- n = Number of compounding periods per year
- t = Tenure in years
For quarterly compounding (most common):
Maturity Value = P × [((1 + r/4)^(4t) - 1) / (1 - (1 + r/4)^(-1/3))]
Example Calculation
Scenario: ₹5,000 monthly RD for 5 years at 7.5% interest compounded quarterly
Frequently Asked Questions
What is the minimum amount for RD?
Most banks allow Recurring Deposits starting from ₹100 to ₹500 per month. Some banks may have higher minimum amounts. There's usually no upper limit for RD investments.
Can I withdraw RD before maturity?
Yes, but premature withdrawal attracts penalty charges (usually 0.5-1% lower interest rate). Some banks may not allow partial withdrawals from RD accounts.
What happens if I miss an RD installment?
Most banks provide a grace period of 1-2 months. If installments are missed beyond the grace period, the RD may be discontinued and converted to a fixed deposit with penalty charges.
Are Recurring Deposits safe?
Yes, RDs in scheduled commercial banks are safe as they're insured under DICGC up to ₹5 lakhs per depositor per bank. This includes both principal and interest amount.
Is TDS applicable on RD interest?
Yes, TDS at 10% is deducted if the total interest income from all RDs and FDs with the bank exceeds ₹40,000 (₹50,000 for senior citizens) in a financial year.