RD Calculator

Calculate the maturity amount and interest on a bank or post office recurring deposit.

What is the RD Calculator?

A recurring deposit lets you deposit a fixed amount every month for a fixed tenure and earn fixed-deposit-like interest.

How does it work?

Indian banks compound RD interest quarterly. Each monthly instalment earns interest for the months it remains deposited, so the first instalment earns the most.

Formula

M = Σ R × (1 + r/400)^(months remaining ÷ 3)

Example

₹5,000 a month for 60 months at 6.7% matures to about ₹3.57 lakh on deposits of ₹3 lakh.

Frequently asked questions

What if I miss an RD instalment?

Banks usually charge a small penalty per missed instalment, and repeated defaults can lead to premature closure.

Is RD interest taxable?

Yes, at your slab rate, and TDS applies above the threshold, just like FDs.

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