Recurring Deposit (RD) Calculator
Calculate maturity amount for your recurring deposit investments
About Recurring Deposits (RD)
A Recurring Deposit is a special term deposit offered by banks and post offices that helps people with regular incomes to deposit a fixed amount every month into their RD account and earn interest at the rate applicable to fixed deposits.
Key Features of RD:
- Fixed monthly deposits for a fixed tenure (6 months to 10 years)
- Interest rates similar to fixed deposits (currently 5%-7.5% for most banks)
- Quarterly compounding of interest
- Minimum deposit as low as ₹100 per month
- Premature withdrawal allowed with penalty
- Tax benefits under Section 80C for 5-year Post Office RDs
RD Interest Calculation Formula:
The maturity amount of an RD is calculated using the formula:
M = R × [(1 + i)n - 1] / (1 - (1 + i)-1/3)
Where:
M = Maturity value
R = Monthly installment
i = (Rate of interest) / (400 for quarterly compounding)
n = Number of quarters
Current RD Interest Rates (2025):
| Bank/NBFC | General Public (% p.a.) | Senior Citizens (% p.a.) |
|---|---|---|
| SBI | 6.50% | 7.00% |
| HDFC Bank | 6.75% | 7.25% |
| ICICI Bank | 6.70% | 7.20% |
| Post Office | 6.70% | 6.70% |
| Axis Bank | 6.75% | 7.50% |
Note: This calculator provides approximate values. Actual returns may vary slightly based on the bank's specific calculation method and the exact number of days in each quarter.