RD Calculator
Calculate recurring deposit maturity amount with quarterly compounding. Free RD calculator for Indian banks with senior citizen rates.
How to Use
Step-by-step guide to get the most from this tool
- 1
Enter monthly deposit
Set your planned monthly RD contribution amount.
- 2
Set rate and tenure
Enter interest rate and duration in years and months.
- 3
Enable senior citizen if applicable
Toggle senior citizen rate for 0.5% additional interest.
- 4
Review maturity
See total deposited, interest earned, maturity amount, and growth chart.
Features
What makes this tool stand out
Quarterly compounding
Matches Indian bank RD interest calculation.
Senior citizen rate
Extra 0.5% interest toggle.
Growth chart
Visualize deposits vs maturity over time.
Quick presets
Common ₹1K, ₹5K, ₹10K monthly plans.
India-specific
Built for Indian bank and post office RD rules.
Maturity breakdown
Clear split of deposited vs interest earned.
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Frequently Asked Questions
Quick answers to common questions
What is a Recurring Deposit (RD)?+
RD is a bank deposit where you invest a fixed amount every month for a fixed tenure. Interest is compounded quarterly, similar to fixed deposits but with monthly contributions.
How is RD maturity calculated?+
Each monthly installment earns interest for the remaining tenure. Indian banks compound quarterly. Our calculator simulates monthly deposits with quarterly interest crediting.
What is the minimum RD amount?+
Most banks allow RD from ₹500 or ₹1,000 per month. Post Office RD minimum is ₹100 per month. Tenure ranges from 6 months to 10 years.
Is RD interest taxable?+
Yes. RD interest is fully taxable as per your income slab. TDS at 10% applies if annual interest exceeds ₹40,000 (₹50,000 for senior citizens).
RD vs SIP — which is better?+
RD offers guaranteed returns with no market risk. SIP in mutual funds offers higher potential returns but with market volatility. RD suits conservative, short-term savers.
Can I break an RD early?+
Yes, but banks charge a penalty (typically 0.5–1% on interest rate) for premature closure. Some interest may be forfeited depending on how early you break it.
Do senior citizens get higher RD rates?+
Yes. Most banks offer 0.25–0.50% additional interest for senior citizens (age 60+). Enable the senior citizen toggle in our calculator.
RD vs FD — when to choose RD?+
Choose RD when you want to save a fixed amount monthly with discipline. Choose FD when you have a lumpsum to invest. RD builds savings habit; FD maximizes returns on existing corpus.