RD Calculator
Calculate recurring deposit maturity amount & interest earned. See year-wise growth breakdown with quarterly compounding.
Year-wise Growth
| Year | Deposited | Value | Interest |
|---|---|---|---|
| Year 1 | ₹1,20,000 | ₹1,24,621 | ₹4,621 |
| Year 2 | ₹2,40,000 | ₹2,58,198 | ₹18,198 |
| Year 3 | ₹3,60,000 | ₹4,01,373 | ₹41,373 |
| Year 4 | ₹4,80,000 | ₹5,54,837 | ₹74,837 |
| Year 5 | ₹6,00,000 | ₹7,19,328 | ₹1,19,328 |
Frequently Asked Questions
What is a Recurring Deposit?
A Recurring Deposit (RD) is a savings scheme where you deposit a fixed amount every month for a predetermined tenure. Interest is compounded quarterly, similar to FDs.
How is RD interest calculated?
RD interest is compounded quarterly. Each monthly deposit earns compound interest for its remaining tenure. The effective maturity is calculated by summing the future value of each monthly installment.
Is RD interest taxable?
Yes, RD interest is taxable as per your income tax slab. TDS is deducted if total interest exceeds ₹40,000/year (₹50,000 for senior citizens).
What is the minimum RD amount?
Most banks allow RD starting from ₹100/month. Post office RD starts at ₹100/month with no upper limit. Some banks may have higher minimums.
Can I withdraw RD early?
Premature withdrawal is allowed but attracts a penalty. Some banks allow partial withdrawal. Post office RDs can be prematurely closed after 3 years.