RD Calculator
Calculate Recurring Deposit Returns
How RD Calculator Works
Recurring Deposit (RD) calculator uses the formula: M = R × [(1+i)ⁿ - 1] / (1-(1+i)^(-1/3))
Where:
- M = Maturity value
- R = Monthly installment
- i = Interest rate/400 (quarterly)
- n = Number of quarters
Interest is compounded quarterly in most RDs.
Frequently Asked Questions about Recurring Deposits
A Recurring Deposit is a term deposit offered by banks where you deposit a fixed amount every month for a predetermined period at a fixed interest rate.
RD interest is calculated using the formula: M = R × [(1+i)ⁿ - 1] / (1-(1+i)^(-1/3)), where R is monthly installment, i is quarterly interest rate, n is quarters.
Most banks offer RD for 6 months to 10 years. Minimum tenure is usually 6 months and maximum can go up to 10 years.
Yes, but premature withdrawal attracts penalty of 0.5-1% lower interest rate. Some banks allow partial withdrawals.
Yes, interest earned from RD is taxable as per your income tax slab. TDS is deducted if interest exceeds ₹40,000 annually.
Most banks charge a penalty for missed installments. Some may close the RD if multiple installments are missed.
