RD Calculator
Calculate your Recurring Deposit maturity amount and interest earned.
Your RD Details
What is RD?
RD (Recurring Deposit) is a savings scheme offered by banks and post offices where you deposit a fixed amount every month for a fixed tenure. It earns interest at a rate similar to fixed deposits and is ideal for regular savers.
Key Features
- Monthly deposit: Fixed amount every month
- Tenure: 6 months to 10 years
- Interest rate: Similar to FD rates (7-8% typically)
- Compounding: Quarterly (most banks)
- Minimum deposit: ₹100 per month (varies by bank)
RD vs FD
- FD: One-time lump sum deposit
- RD: Monthly deposits over the tenure
- Both: Same interest rates, same tax treatment
Tax on RD Interest
- Interest is taxable as per your income tax slab
- TDS (10%) applies if annual interest exceeds ₹40,000 (₹50,000 for senior citizens)
- No TDS if you submit Form 15G/15H
Important Note
RD interest rates vary by bank and tenure. Senior citizens usually get 0.5% higher rates. This calculator uses quarterly compounding, which is standard for most banks.