Recurring Deposit (RD) Calculator
Estimate the maturity amount of your systematic monthly savings in a Recurring Deposit bank account.
RD Savings Output
Your recurring deposit growth metrics summarized:
Total Saved
The sum of all monthly installments deposited by you.
RD Interest Earned
The compound interest accumulated on your monthly contributions.
Maturity Amount
The final corpus withdrawable at the end of the RD tenure.
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How is it calculated?
M = P \times \frac{(1 + r)^n - 1}{1 - (1 + r)^{-1/3}}Where M is maturity amount, P is monthly installment, r is quarterly compounding rate, and n is tenure in months.
Worked Examples
₹5,000 Monthly RD for 3 Years
Investing ₹5,000 monthly at an interest rate of 6% compounded quarterly for 3 years builds a maturity value of approximately ₹1,97,350.
₹2,000 Monthly RD at 7%
Saving ₹2,000 monthly for 5 years at 7% builds a total maturity corpus of ₹1,44,980.
Frequently Asked Questions
Are RD interest earnings tax-free?
No, interest earned on Recurring Deposits is fully taxable as per your income tax slab. If interest across fixed deposits and recurring deposits exceeds ₹40,000 (₹50,000 for senior citizens), TDS is deducted.
Can I withdraw my RD before maturity?
Yes, premature withdrawal of RD is permitted by most banks, but it generally attracts a small penalty fee (typically 0.5% to 1% reduction in interest rate).
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Results are estimates and should not be considered financial advice.