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RD Calculator

Work out the maturity value of a recurring deposit from your monthly amount, interest rate and number of months.

How a recurring deposit works

You deposit the same amount every month for a fixed period, and the bank pays interest at a rate fixed on the day you open it. The first instalment earns interest for the whole period, the last one for just a month, so the total interest is lower than an FD of the same total amount.

What you can do with the RD Calculator

Bank RD or post office RD

Banks offer RDs from 6 months to 10 years. The post office RD runs for 5 years, at a rate the government sets every quarter. Enter that rate to compare.

Missed instalments

If you miss a month, banks usually charge a small penalty, and after several missed months they may close the account. Setting up auto-debit avoids this.

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Frequently Asked Questions

What will ₹1,000 a month for 1 year at 7% give?

₹12,462, so ₹462 of interest on the ₹12,000 you deposit.

What does ₹5,000 a month for 3 years become at 7%?

₹2,00,686, of which ₹1,80,000 is your money and ₹20,686 is interest.

Is RD interest taxable?

Yes. It is added to your income and taxed at your slab rate, and banks may deduct TDS.

What will ₹2,000 a month for 5 years give at 7%?

₹1,43,866. You deposit ₹1,20,000 and earn ₹23,866 of interest.

What does ₹10,000 a month for 2 years give at 6.8%?

₹2,57,658, of which ₹2,40,000 is your money and ₹17,658 is interest.

Is RD better than SIP?

An RD gives a fixed, known return with no risk to your money. A SIP in equity funds can give more over long periods but can also fall. Many people use an RD for goals within 1 to 3 years.

Can I change the monthly amount?

No. A recurring deposit keeps the same amount for the whole term. Open a second RD if you want to save more.

Can I close an RD early?

Usually yes, with a small penalty on the interest rate. Post office RDs allow early closure after 3 years.

Why is RD interest lower than an FD of the same total?

Because each instalment is in the account for a shorter time. Only the first instalment earns interest for the full term.

Does the post office RD use the same formula?

Yes, interest is compounded quarterly. Enter the current post office RD rate to see the maturity value.

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