RD Calculator
Calculate recurring deposit maturity for any bank or post office RD. Free, privacy-first — inputs never leave your browser.
Details
Result
Maturity Value
₹3,60,053
Invested
₹3,00,000
Interest Earned
₹60,053
For estimation only. Not professional financial, tax, or legal advice. Consult a qualified advisor before making decisions. Full disclaimer.
Recurring Deposits
An RD lets you deposit a fixed amount every month for a fixed tenure. Interest is compounded quarterly per RBI guidelines. Rates match FD rates at most banks. Post Office RDs currently offer 6.7% for 5 years.
Common questions about RD
What is a recurring deposit (RD)?+
A Recurring Deposit is a disciplined savings instrument where you deposit a fixed amount every month for a fixed tenure (6 months to 10 years) and earn compound interest, receiving the total (principal + interest) at maturity. Available at all banks and post offices. Unlike a SIP (which is market-linked), RD returns are guaranteed — making it ideal for short-term goals and first-time savers.
What are current RD interest rates in India?+
Public sector banks (SBI, PNB, BoB) offer 6.5%-7.25% for 1-5 year RDs. Private banks (HDFC, ICICI, Axis) pay 6.75%-7.5%. Small Finance Banks (AU, Equitas, Ujjivan) are 7.5%-8.25%. India Post RD pays 6.7% (quarterly compounding). Senior citizens get 0.25%-0.50% additional. Rates are locked at account opening for the full tenure.
How is RD interest taxed?+
RD interest is fully taxable at your slab rate. Banks deduct 10% TDS if cumulative annual RD interest across all your RDs at that bank exceeds ₹40,000 (₹50,000 for seniors). Submit Form 15G (below 60) or 15H (senior) if total income is below taxable limit to avoid TDS. Interest is added to "Income from Other Sources" in your ITR.
RD vs SIP — which is better?+
For horizons under 5 years or if you need guaranteed returns: RD wins (7% sure beats a negative equity year). For 7+ year goals: SIP in equity funds wins on long-term returns (11%-13% historical vs RD's 7%). Tax treatment also favours equity SIPs (12.5% LTCG vs slab-rate on RD interest). A common split: 3-month emergency fund in RD/sweep-FD, long-term wealth in SIP.
Can I break an RD before maturity?+
Yes. Premature closure is allowed after 3 months (post office) or immediately at most banks, but with a penalty — interest paid is reduced by 0.5%-1% from the applicable rate for the period held. Missing a monthly installment triggers a small late fee (₹1.50-₹10 per ₹100 of installment) and may lower final interest if repeated.
What is the minimum RD amount?+
Post office RD: ₹100/month (multiples of ₹10). Banks: ₹500-₹1,000/month minimum, no upper limit. You can hold multiple RDs of different amounts and tenures. Some banks offer "flexi RD" where monthly amount can vary between a min-max band — useful for variable-income earners (freelancers, business owners).