RD Calculator
Calculate recurring deposit maturity amount, total interest, and year-by-year balance for any RD.
RD calculator computes the maturity amount of your recurring deposit for any monthly deposit, annual interest rate, and tenure. Enter your monthly instalment, set the bank rate, and choose tenure in months. The result shows total invested, interest earned, and the final maturity amount with a year-by-year breakdown. Covers all Indian bank and post office RD rates. Free, no signup.
Typical RD rates (2025)
Interest is compounded monthly. Actual returns depend on the bank's compounding policy. TDS applies when annual interest exceeds ₹10,000 at most banks.
Frequently Asked Questions
- What is the maturity amount for ₹5000 RD for 2 years at 7%?
- An RD of ₹5,000 per month for 24 months at 7% annual interest gives a maturity amount of approximately ₹1,28,500. Total invested is ₹1,20,000 and interest earned is roughly ₹8,500. The exact amount varies slightly with the bank's compounding method.
- How is RD interest calculated?
- RD interest in India is typically compounded quarterly. Each month you add a deposit, and the balance earns interest for the remaining months. The standard bank formula uses monthly deposit R, quarterly rate i, and number of quarters n. The calculator simulates month by month for accuracy.
- What is the RD interest rate at SBI and Post Office in 2025?
- SBI RD rates for 2025 range from 6.50% to 7.00% depending on tenure. The Post Office RD (National Savings Recurring Deposit) pays 6.70% per annum, compounded quarterly. Senior citizens get an extra 0.50% at most banks. Rates change periodically, so check the bank website before opening an account.
- Is RD interest taxable in India?
- Yes. RD interest is fully taxable as income from other sources. TDS at 10% applies when annual interest from all deposits at a bank exceeds ₹40,000 (₹50,000 for senior citizens). Submit Form 15G or 15H if total income is below the taxable limit to prevent TDS deduction.
- What is the minimum and maximum tenure for an RD?
- Most banks offer RD tenures from 6 months to 10 years. The Post Office RD has a fixed 5-year tenure. SBI allows 1 to 10 years. HDFC Bank allows 6 months to 10 years. Minimum monthly deposit is typically ₹100 at banks and ₹100 at the post office.
- Can I withdraw my RD before maturity?
- Premature withdrawal is allowed at most banks with a penalty, usually 1% lower than the applicable rate. The Post Office RD does not allow premature closure before 3 years. After 3 years, partial withdrawal up to 50% of the balance is allowed at the Post Office.
What is RD Calculator?
RD calculator computes the maturity amount of a recurring deposit for any monthly deposit, interest rate, and tenure. A recurring deposit is a term savings product offered by banks and the post office. You deposit a fixed amount every month. The bank pays interest, which is added to the balance. At maturity, you receive the principal plus all accumulated interest.
The calculator uses a month-by-month simulation to give accurate results across any tenure and rate.
How does it work?
Enter your monthly deposit amount, the annual interest rate from your bank, and the tenure in months. The calculator runs a month-by-month simulation. Each month, the deposit is added to the running balance. Monthly interest is then credited at the rate of annualRate divided by 1200.
The formula mirrors how banks actually compute RD interest. Results include total invested (monthly deposit multiplied by tenure), interest earned, and the final maturity amount. The year-by-year table shows cumulative deposits, cumulative interest, and the closing balance at the end of each year.
Banks compound RD interest quarterly in practice. The monthly simulation gives a close approximation. For exact figures, request a maturity certificate from your bank before opening an account.
RD Calculator in India
Recurring deposits are one of the most popular savings products in India. Every major bank and the post office offers them. The Post Office RD pays 6.70% for a 5-year tenure. SBI pays 6.50% to 7.00% depending on duration. HDFC Bank offers 6.50% to 7.25%. Senior citizens get an additional 0.50% at most banks.
RD interest is fully taxable. Banks deduct TDS at 10% when annual interest from all deposits exceeds ₹40,000. For senior citizens, the TDS threshold is ₹50,000. Submit Form 15G (below age 60) or Form 15H (age 60 and above) at the start of the financial year. Do this when total income falls below the taxable limit.
The Post Office RD has a fixed 5-year term with no premature closure before 3 years. Banks generally allow premature closure with a rate penalty of 1%. Breaking an RD early reduces returns, so plan the tenure to match your actual savings goal.
RD accounts can be opened online through net banking at most major banks. The minimum deposit varies: ₹100 per month at the post office, ₹500 to ₹1,000 per month at most banks. No upper limit applies to the monthly deposit amount.
Tips to get the best results
- Compare rates across banks before opening an RD. A difference of 0.5% on ₹10,000 per month over 5 years adds roughly ₹1,500 in extra interest.
- Senior citizens should check the additional rate benefit at each bank. At 0.50% extra, the total interest earned on a 5-year RD of ₹10,000 per month increases by approximately ₹7,500.
- Set the tenure to match a specific goal such as a vacation, down payment, or annual insurance premium. Premature withdrawal reduces effective returns due to the penalty rate.
- For tenures beyond 5 years, compare an RD with PPF. PPF offers 7.1% tax-free, which often beats an RD after accounting for the tax on RD interest.
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