RD calculator: maturity value of a recurring deposit

A recurring deposit lets you put aside a fixed amount every month for a set tenure at a fixed rate, which suits people who want a disciplined saving habit with a known outcome. Enter the monthly deposit, the rate and the tenure, and this calculator shows the maturity amount, the total you deposited and the interest earned.

Each monthly deposit earns interest from the month it goes in until maturity, so earlier instalments earn more than later ones. Rates depend on the bank and tenure, and senior citizens are often offered a slightly higher rate. Use the lists below to compare current recurring deposit rates before opening one.

Frequently asked questions

What happens if I miss a monthly deposit?

Most banks charge a small penalty for a late instalment, and repeated misses can lead to the account being closed. The exact charge is in the bank's terms.

Is RD interest taxable?

Yes. The interest is part of your income and is taxed at your slab rate. Banks may deduct TDS above a limit.

RD or SIP?

An RD gives a fixed, known return and is not tied to markets. A SIP in a market-linked fund can earn more or less. The right choice depends on how much uncertainty you can accept.

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