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RD Calculator

Know all about RDs with us!

Recurring deposit calculators are used to check the deposit amount, returns, and interest percentage every month or over the complete tenure. Recurring deposits calculator plays an initial role as these are safe, immediate, and exact. The Recurring deposits calculator is an ideal savings instrument because it provides an optimal saving report and helps in making good financial planning and earning the interest on RD, which applies to FD (fixed deposit).

Please fill all the mandatory fields to Calculate 

What is a Recurring Deposit?

Recurring deposits (RD) are the regular savings paid every month and produce compound interest quarterly by the Post Office or Banks, A fixed amount paid every month which helps in generating a fixed interest over the deposit in recurring deposit accounts. RD is considered one of the best savings options. However, every bank provides different interests and the interest and return depend upon the deposits, and period. The calculations can be easily done by using Recurring deposit calculators. 

Comparatively, the amount earned on RD in the end is more than earned at the end of maturity on FD.

Eligibility and Features of RD

There is a minimum deposit and RD eligibility as follows:


  • Minimum Deposit: The minimum deposit amount to start RD is Rs.10 every month is enough, it varies for every bank and if you can contribute to Rs. 1000 every month, you will receive an ideal amount after the maturity

  • RD eligibility: The criteria are every Indian can avail of RD in India, individuals of 18 years or below can avail of this under the guardianship of a natural or legal guardian. Individuals over the age of 10, can start RD with their name. Any individual over the age of 18 years can feature RD in banks or Post offices, with an account holder sharing 3 accounts only. 

  • Interest rates: The interest rates vary bank to bank:

RD Interest Rates (General Public)
RD Interest Rates (Senior Citizens)
SBI RD Interest Rates

6.50% to 7.00%

7.25% to 7.50%

ICICI RD Interest Rates

4.75% to 7.20%

5.25% to 7.75%

HDFC RD Interest Rates

4.50% to 7.25%

5.00% to 7.75%

Kotak Mahindra Bank RD Interest Rates

6.00 to 333

6.50% to 7.90%

Axis Bank RD Interest Rates

5.75% to 7.20%

6.25% to 7.85%

Punjab National Bank RD Interest Rates

6.00 to 7.25%

6.50% to 7.75%

IDBI Bank RD Interest Rates

6.25% to 7.00%

6,75% to 7.50%

How to Use an RD Calculator (Secondary Keyword: Calculating RD Maturity Amount)

RD Calculation guide follows 4 step processor: 


  1. Enter the amount that you will deposit every month. 

  2. Now, add the tenure (duration of investment)

  3. Set the interest amount given by the Banks and post office. 

  4. The last step is to click on ‘Calculate’. You will see the results immediately. 


Calculation guide on RD Maturity amount: 


  • M= R[(1+i)n-1]/1-(1+i)(-1/ 3)

  • M= Maturity amount of the RD

  • R= Monthly installment credited in the RD

  • n= Number of quarters (in the total tenure)

  • i= Rate of Interest/400


Note: The interest amount on RD is usually compounded every quarter.

5 Assured RD Calculator benefits are:

RD interest rates vary per bank and are as common as fixed deposit (FD) Rates. The calculations manually take a lot of time but the RC calculator provides savings projections and makes investment decisions clear and easy.

Time-Saving: Investors can benefit from using an RD calculator to save time by handling calculations. It makes the investment process more efficient and gives clarity to savings projections.

Easy to use: The RD calculator is user-friendly requiring inputs such as monthly deposit amount, RD rate and investment duration. By computing the maturity amount it simplifies planning for investors and making investment decisions.

Future preparations: By providing calculations the calculator enables investors to plan their investments with confidence and financial planning.

Accuracy: When inputted correctly the RD calculator ensures accuracy without room for errors in calculations.

Comparison: The RD calculator is a cost tool that allows investors to effortlessly determine returns on RDs with different terms and interest rates.

Tax Implications on RD Investments (Secondary Keyword: RD and Taxes)

In comparison to investment options like taxable interest saving schemes recurring deposits also come with tax implications. Investors may face a TDS deduction of 10% in their total TDS Interest income from RD tax implications exceeding Rs.10,000 in a year.

When you look at it in comparison to the SIP scheme it becomes evident that SIPs offer advantages in the run. Considering that the returns from equities over a period are exempt, from taxes any SIP that involves investing in ELSS (Equity Linked Mutual Funds) also becomes tax-free after a year.

Comparing RD with Other Savings Schemes

Below is an overview of the point of RD vs FD vs SIP:

Sr. No.
Recurring Deposit (RD)
Fixed Deposit (FD)
Systematic Investment Plan (SIP)


Taxable based on the tax slab in which investor falls

Tax applicable based on the tax slab in which investor falls

Taxable as per LTCG and STCG


Risk & Liquidity

RD is low risk and is a safe form of investment. RDs are highly liquid. Premature withdrawal will attract a penalty.

FD is low risk and is a safe form of investment. FDs are highly liquid. Premature withdrawal will attract a penalty.

SIP offers moderate to high risk. The returns depend on the stock market or debt instruments. SIPs can be stopped anytime. However, exit charges may apply.



The maturity date for RD can be chosen from six months to 10 years.

Maturity date for FD can be from 7 days to 10 years.

There is no fixed tenure for SIP.



Returns are fixed and are best known at the time of investment.

Fixed returns and are best known at the time of investment.

Returns depend on equity and debt markets along with the fund scheme chosen.



Choose among the tenor and interest rates. Flexible schemes are available too.

Select among the tenor and interest rates. Flexible schemes are available too.

Choose between equity and debt funds depending on your risk appetite and needs.


Type of Investment

In installments

Lump sum

In installments


Interest Rate

Interest rates vary from 5% to 9%. Special rates are applicable for senior citizens

Rates of Interest varied from 5% to 9%. Senior citizens can avail special interest rates

Interest rates are not guaranteed on SIP mutual funds. They were varying from 12% to 22% for the last 5 to 10 years.

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Frequently asked questions


What is a Recurring Deposit and how does it work?


RD is a special kind of term deposit, which helps people to save a certain amount every month into savings. RD’s are offered by banks and Post offices.


How do I use an RD calculator to estimate my maturity amount?


Go to any RD calculator, and fill in all the details like maturity period, monthly deposit amount and interest. Interest may vary in banks. You will get the exact calculation of all the details.


What are the eligibility criteria and features of RD accounts?


Everyone in India with Indian citizenship is allowed to access RD accounts. Before 18, it is important to have an account under Guardianship.


What are the benefits of using an RD calculator for savings planning?


RD calculators for savings planning are important to get exact, immediate, and prepare for future planning.


How are RD investments taxed in India?


It depends on the interest amount you get on RD’s such as if you get Rs.10,000 no TDS is applicable. But if the PAN information is not given then it results in 20% TDS deductions.


How does an RD compare to FDs and SIPs in terms of returns and risk?


Overall, RDs work better for those looking to save smaller amounts each month. Also, comparatively, RDs are low-risk and give fixed returns.


What should I consider when choosing an RD scheme?


Choosing an RD scheme ensures choosing the right bank with security. Compare the interest rates using the Recurring deposits calculator.


Can I use RD investments as collateral for loans?


Yes, you can collateral for loans using Rd investments as one can avail loan against the deposit.


How do I report RD interest income on my tax return?


All the return on Rd is considered as “return on another source” when filing income tax returns.


Are there any penalties for premature withdrawal from an RD account?


After the premature withdrawal, one can get a leave on penalty of about 1% to 2% on the accrued interest option.

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