RD Calculator

An RD (Recurring Deposit) is a popular savings option that allows you to deposit a fixed amount every month and earn interest on it. Our RD Calculator helps you calculate the maturity value and total interest earned based on your monthly deposit, interest rate, and tenure.

How RD Calculator Works

The RD Calculator uses the compound interest formula to calculate maturity value:
M = P × ( (1 + r/n)nt - 1 ) / (1 - (1 + r/n)-1 )

Where:

Why Use Our RD Calculator?

Benefits of Recurring Deposits

Who Should Use the RD Calculator?

Frequently Asked Questions (FAQs)

What is an RD Calculator?

An RD Calculator helps you calculate the maturity amount and interest earned on your recurring deposit investment based on your monthly deposit, interest rate, and duration.

How is RD maturity amount calculated?

RD maturity is calculated using the compound interest formula, considering monthly contributions and quarterly compounding interest.

What is the minimum tenure for RD?

The minimum RD tenure is usually 6 months. It can go up to 10 years, depending on the bank.

Is RD interest taxable?

Yes, interest earned from RD is taxable under “Income from Other Sources” and may attract TDS if it crosses the threshold.

Can senior citizens get higher interest on RD?

Yes, most banks offer higher interest rates on RDs for senior citizens (usually 0.25% to 0.50% more).