RD Calculator

An RD (Recurring Deposit) Calculator is a financial tool that helps you calculate the maturity amount of your recurring deposit. RD is a savings scheme where you deposit a fixed amount every month for a specified tenure, earning interest that's compounded quarterly.

Why it matters: Recurring deposits are ideal for building savings habit with small, regular contributions. The RD calculator helps you plan your savings goal, understand the power of consistent investing, and compare RD schemes across different banks.

Our RD Calculator provides accurate projections of your recurring deposit returns.

Key Benefits:

• Maturity Estimation: Know exactly how much you'll receive at the end of your RD tenure
• Monthly Planning: Calculate how much to save monthly to reach your goal
• Compare Banks: Evaluate RD schemes from different banks with varying interest rates
• Goal-Based Saving: Plan your savings to achieve specific financial targets
• Interest Breakdown: See the interest earned vs total deposits clearly

The RD Calculator uses the compound interest formula adapted for regular monthly deposits:

Formula:

A = P × [(1 + r/n)^(n×t) - 1] / (1 - (1 + r/n)^(-1/3))

Simplified calculation (quarterly compounding):

Each monthly deposit earns interest for its remaining tenure.

Where:

• A = Maturity Amount
• P = Monthly deposit
• r = Annual interest rate
• n = Compounding frequency (4 for quarterly)
• t = Tenure in years

Example:

Monthly Deposit: ₹5,000

Interest Rate: 6.5% p.a.

Tenure: 3 years (36 months)

Total Deposits: ₹5,000 × 36 = ₹1,80,000

Maturity Amount: ₹1,97,531

Interest Earned: ₹17,531

Using our RD Calculator is straightforward:

Step 1: Enter Monthly Deposit

Input the fixed amount you plan to deposit every month.

Step 2: Set Interest Rate

Enter the annual interest rate offered by your bank. Compare rates across banks.

Step 3: Choose Tenure

Select your preferred investment period. RDs typically range from 6 months to 10 years.

Step 4: View Results

See your maturity amount, total interest earned, and effective yield.

Step 5: Plan Your Goals

Adjust the monthly amount or tenure to match your savings goal.

1. Savings Discipline

RD enforces regular saving habit with fixed monthly commitments.

2. Guaranteed Returns

Know exactly how much you'll receive - no market risk involved.

3. Goal Planning

Calculate the monthly deposit needed to reach your target amount.

4. Bank Comparison

Compare RD interest rates across different banks easily.

5. Flexible Tenures

Plan for short-term (6 months) to long-term (10 years) goals.

6. Low Entry Barrier

Start with as little as ₹100/month in many banks.

7. Senior Citizen Benefits

Many banks offer 0.25-0.50% extra interest for senior citizens.

8. Tax Planning

Plan your interest income for tax purposes (TDS applies above ₹40,000/year).