RD Calculator - Recurring Deposit
Free RD Calculator for India 2026. Calculate Recurring Deposit maturity amount, interest earned, and returns. Compare RD rates from SBI, HDFC, ICICI, Post Office. Monthly deposit from ₹100.
About This Calculator
RD (Recurring Deposit) is one of India's most popular savings schemes, allowing you to invest a fixed amount monthly and earn guaranteed returns. It's perfect for salaried individuals who want to build wealth through disciplined monthly savings with the safety of bank deposits.
Our RD Calculator helps you calculate the exact maturity amount, total interest earned, and returns for any monthly deposit, tenure, and interest rate. Compare rates from SBI, HDFC, ICICI, Post Office, and other major banks.
Frequently Asked Questions
What is RD and how does it work?
RD (Recurring Deposit) is a savings scheme where you deposit a fixed amount monthly for a predetermined period (6 months to 10 years). Interest is compounded quarterly, and you receive the maturity amount (principal + interest) at the end of the tenure. RD is ideal for building a savings habit with guaranteed returns backed by banks or post office.
How is RD maturity amount calculated?
RD maturity is calculated using the compound interest formula for recurring deposits:
Maturity = P × [(1 + r/n)^(n×t) - 1] / (1 - (1 + r/n)^(-1/3))
Where P = Monthly Deposit, r = Annual Interest Rate, n = Compounding frequency (4 for quarterly), t = Tenure in years. Use our calculator for instant accurate calculations without manual computation.
What is the current RD interest rate in India?
RD interest rates in India (2026):
| Bank | General | Senior Citizen | Tenure |
|---|---|---|---|
| SBI | 6.50% | 7.00% | 5 years |
| HDFC Bank | 7.00% | 7.50% | 5 years |
| ICICI Bank | 6.50% | 7.00% | 5 years |
| Axis Bank | 7.00% | 7.50% | 5 years |
| Post Office | 6.50% | 7.50% | 5 years |
| PNB | 6.50% | 7.00% | 5 years |
| Bank of Baroda | 6.50% | 7.00% | 5 years |
Which bank offers the highest RD interest rate?
Small finance banks like AU Small Finance Bank, Ujjivan, and Equitas typically offer the highest RD rates (7.5-8.5%). Among major banks, HDFC Bank and Axis Bank offer competitive rates around 7%. Post Office RD is also popular at 6.50% with the added benefit of tax deduction under Section 80C up to ₹1.5 lakh per year.
RD Investment Example:
If you invest ₹5,000 per month for 5 years at 7% interest:
- Total Investment: ₹3,00,000 (₹5,000 × 60 months)
- Interest Earned: ₹60,235
- Maturity Amount: ₹3,60,235
- Effective Annual Return: ~8.02%
Is RD better than FD?
| Feature | RD | FD |
|---|---|---|
| Investment Type | Monthly deposits | Lump sum |
| Interest Rate | Same as FD | Slightly higher |
| Minimum Amount | ₹100/month | ₹1,000 |
| Discipline | Builds habit | One-time decision |
| Best For | Salaried employees | Lump sum savings |
RD Key Features:
- Minimum Investment: As low as ₹100 per month
- Maximum Investment: No upper limit (varies by bank)
- Tenure: 6 months to 10 years
- Interest Compounding: Quarterly
- Interest Rates: 6.0% - 8.5% depending on bank
- Senior Citizen Benefit: Extra 0.50% interest
- Loan Facility: Avail loan against RD (up to 90%)
- Auto-Debit: Automatic monthly deduction from savings account
Tax Implications:
- Post Office RD: Tax deduction under Section 80C (up to ₹1.5L/year)
- TDS: 10% TDS if interest exceeds ₹40,000/year (₹50,000 for seniors)
- Tax on Interest: Added to taxable income as "Income from Other Sources"
- Form 15G/15H: Submit to avoid TDS if total income is below taxable limit
Calculator Features:
- Calculate exact maturity amount for any monthly deposit
- Total interest earned calculation with quarterly compounding
- Compare RD rates from all major Indian banks
- Year-wise growth breakdown with visual charts
- Tax-adjusted returns calculation
- Senior citizen rate comparison