Recurring Deposit (RD) Calculator
Calculate your RD maturity amount with monthly deposits. Plan your savings and see how your recurring deposit grows over time.
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What is a Recurring Deposit?
A Recurring Deposit (RD) is a popular savings scheme offered by banks and post offices in India. It allows you to save a fixed amount every month for a predetermined period and earn interest on your deposits.
Key Features of RD
- Fixed monthly deposits ranging from ₹100 to any amount
- Tenure options from 6 months to 10 years
- Guaranteed returns with safe investment
- Loan facility available against RD (up to 90%)
- Premature withdrawal allowed with penalty
RD vs FD: Which is Better?
Choose RD if: You want to save regularly every month and build a corpus with disciplined savings.
Choose FD if: You have a lumpsum amount available and want slightly higher returns.
Frequently Asked Questions
What is a Recurring Deposit (RD)?
A Recurring Deposit (RD) is a savings scheme offered by banks where you deposit a fixed amount every month for a predetermined tenure. At maturity, you receive the principal amount plus interest earned.
How is RD interest calculated?
RD interest is calculated using compound interest formula. Each monthly deposit earns interest for the remaining tenure. The formula considers monthly deposits, interest rate, and compounding frequency.
What is the minimum tenure for an RD?
Most banks offer RD with a minimum tenure of 6 months and maximum of 10 years. The tenure can be chosen based on your savings goals.