RD Calculator (Recurring Deposit)
Calculate your Recurring Deposit maturity value, wealth generated through quarterly compounding, and complete payment amortization schedule.
Quarterly Growth & Amortization Schedule
| Period | Opening Balance | Deposits Added | Interest Earned | Closing Balance |
|---|
RD vs SIP vs FD
TDS & Tax Rules on RD
Interest earned on Recurring Deposits is fully taxable based on your income slab. If total interest earned from bank deposits exceeds ₹40,000/yr (or ₹50,000/yr for senior citizens), a 10% TDS is deducted at source.
RD Compounding Formula
M = R * [ (1+i)^n - 1 ] / [ 1 - (1+i)^(-1/3) ]
Where R = Monthly Installment, i = r/400 (Quarterly Rate), n = Number of Quarters.
How to Use RD Calculator
- Enter your 'Monthly Deposit' amount (e.g., ₹5,000 or $500) or pick a quick preset amount chip.
- Set the 'Annual Interest Rate (%)' offered by your bank or post office, or choose from popular bank rate presets.
- Select your 'Tenure' in years and months (from 6 months up to 10 years).
- Toggle 'Senior Citizen (+0.50%)' if eligible for additional senior deposit interest rates.
- Choose your compounding frequency (Quarterly is standard for Indian banks & post offices).
- Instantly view your total invested principal, total interest earned, maturity payout, and detailed amortization growth schedule.
Key Features & Privacy Guarantee
- Quarterly Compounding Engine: Uses the standard Indian banking & Post Office quarterly compounding RD formula.
- Senior Citizen Bonus (+0.50%): One-click toggle to automatically factor in senior citizen preferential rates.
- Bank Interest Rate Presets: Instant one-click presets for SBI, HDFC, ICICI, and Post Office RD schemes.
- Quarterly & Yearly Amortization: Detailed breakdown of opening balance, deposits, accrued interest, and closing balances.
- CSV & Print Export: Download the full growth schedule to spreadsheet or print cleanly for financial planning.
- 100% Private & In-Browser: All calculations run locally in your browser with zero data sent to external servers.
Frequently Asked Questions
What is a Recurring Deposit (RD)?
A Recurring Deposit (RD) is a term deposit account offered by banks and postal departments where investors deposit a fixed sum of money each month for a predetermined tenure (typically 6 months to 10 years) at a fixed guaranteed interest rate.
How is RD interest calculated in Indian banks?
In Indian commercial banks and post offices, RD interest is compounded quarterly. The maturity formula is: M = R * [(1 + i)^n - 1] / [1 - (1 + i)^(-1/3)], where R is monthly installment, i = r / 400 (quarterly interest rate), and n is the number of quarters.
Are senior citizens eligible for extra RD interest?
Yes, most scheduled commercial banks offer an additional 0.50% to 0.75% per annum interest rate on Recurring Deposits for senior citizens (individuals aged 60 years and above).
Is interest earned on Recurring Deposits taxable (TDS)?
Yes, interest earned on Recurring Deposits is taxable under 'Income from Other Sources'. Banks deduct TDS at 10% if total interest earned across all term deposits exceeds ₹40,000 per financial year (₹50,000 for senior citizens) unless Form 15G/15H is submitted.
What is the difference between RD and SIP?
A Recurring Deposit (RD) provides guaranteed, fixed returns backed by bank deposit insurance without market fluctuations. A Systematic Investment Plan (SIP) invests in mutual funds with market-linked returns (typically higher over long periods, e.g., 12-15%) but involves market risk.