Recurring Deposit Calculator
Calculate the maturity amount of your Recurring Deposit. Plan your savings with regular monthly deposits and understand compound interest growth.
RD Details
RD Growth Over Time
Year-wise Breakdown
Growth Comparison Table - ₹10,000/month
See how your monthly deposit of ₹10,000 grows over different time periods and interest rates
| Interest Rate | 1 Year | 3 Years | 5 Years | 7 Years | 10 Years |
|---|---|---|---|---|---|
| 5% | ₹1.2L (₹123,300) Deposit: ₹1.2L Interest: ₹0.0L | ₹3.9L (₹389,148) Deposit: ₹3.6L Interest: ₹0.3L | ₹6.8L (₹682,894) Deposit: ₹6.0L Interest: ₹0.8L | ₹10.1L (₹1,007,467) Deposit: ₹8.4L Interest: ₹1.7L | ₹15.6L (₹1,559,293) Deposit: ₹12.0L Interest: ₹3.6L |
| 6% | ₹1.2L (₹123,972) Deposit: ₹1.2L Interest: ₹0.0L | ₹4.0L (₹395,328) Deposit: ₹3.6L Interest: ₹0.4L | ₹7.0L (₹701,189) Deposit: ₹6.0L Interest: ₹1.0L | ₹10.5L (₹1,045,943) Deposit: ₹8.4L Interest: ₹2.1L | ₹16.5L (₹1,646,987) Deposit: ₹12.0L Interest: ₹4.5L |
| 7% | ₹1.2L (₹124,649) Deposit: ₹1.2L Interest: ₹0.0L | ₹4.0L (₹401,630) Deposit: ₹3.6L Interest: ₹0.4L | ₹7.2L (₹720,105) Deposit: ₹6.0L Interest: ₹1.2L | ₹10.9L (₹1,086,290) Deposit: ₹8.4L Interest: ₹2.5L | ₹17.4L (₹1,740,945) Deposit: ₹12.0L Interest: ₹5.4L |
| 8% | ₹1.3L (₹125,329) Deposit: ₹1.2L Interest: ₹0.1L | ₹4.1L (₹408,058) Deposit: ₹3.6L Interest: ₹0.5L | ₹7.4L (₹739,667) Deposit: ₹6.0L Interest: ₹1.4L | ₹11.3L (₹1,128,607) Deposit: ₹8.4L Interest: ₹2.9L | ₹18.4L (₹1,841,657) Deposit: ₹12.0L Interest: ₹6.4L |
| 9% | ₹1.3L (₹126,014) Deposit: ₹1.2L Interest: ₹0.1L | ₹4.1L (₹414,614) Deposit: ₹3.6L Interest: ₹0.5L | ₹7.6L (₹759,898) Deposit: ₹6.0L Interest: ₹1.6L | ₹11.7L (₹1,173,001) Deposit: ₹8.4L Interest: ₹3.3L | ₹19.5L (₹1,949,656) Deposit: ₹12.0L Interest: ₹7.5L |
| 10% | ₹1.3L (₹126,703) Deposit: ₹1.2L Interest: ₹0.1L | ₹4.2L (₹421,300) Deposit: ₹3.6L Interest: ₹0.6L | ₹7.8L (₹780,824) Deposit: ₹6.0L Interest: ₹1.8L | ₹12.2L (₹1,219,583) Deposit: ₹8.4L Interest: ₹3.8L | ₹20.7L (₹2,065,520) Deposit: ₹12.0L Interest: ₹8.7L |
Note: This table shows the maturity amount for a monthly RD of ₹10,000. The actual returns may vary based on bank policies and market conditions. Interest rates are subject to change.
Key Insights
Regular Savings Habit
RDs help you develop a disciplined approach to saving money regularly, which is essential for long-term financial stability.
Guaranteed Returns
Unlike market-linked investments, RDs offer fixed interest rates, providing predictable returns and eliminating the risk of losing your principal.
Tax Consideration
RD interest is taxable as per your income tax slab. The bank will deduct TDS if the interest exceeds ₹40,000 in a financial year.
Premature Withdrawal
Early withdrawal may attract penalties and lower interest rates. The exact terms depend on your bank's policies.
RD Calculator – Recurring Deposit Calculator
A Recurring Deposit (RD) is a type of term deposit offered by banks and financial institutions that allows individuals to deposit a fixed amount of money regularly (usually monthly) for a predetermined period. Unlike fixed deposits where you invest a lump sum, RDs enable you to build your savings gradually through regular contributions. Our RD calculator helps you understand the potential returns on your recurring deposits and plan your savings strategy effectively.
What is an RD Calculator?
An RD calculator is a financial tool that helps you calculate the maturity amount of your recurring deposit investments. It takes into account your monthly deposit amount, the interest rate offered by the bank, and the tenure of your RD to provide you with an estimate of the total amount you will receive at maturity.
This calculator helps you understand how much interest you will earn on your regular deposits and how your money will grow over time. It's particularly useful for planning short to medium-term financial goals like buying a car, funding education, or building an emergency fund.
How can an RD calculator help you?
An RD calculator provides several benefits for financial planning:
- Helps you determine the optimal monthly deposit amount for your goals
- Shows the total amount you will have invested over the tenure
- Provides an estimate of the interest you will earn
- Helps you compare different RD schemes and interest rates
- Enables better financial planning and goal setting
How do RD calculators work?
RD calculators use the compound interest formula to calculate the maturity amount:
📊 RD Formula
M = P × (((1 + i)^n - 1) / i) × (1 + i)
In the above formula:
- • M is the maturity amount you receive
- • P is the monthly deposit amount
- • n is the number of months (tenure)
- • i is the monthly interest rate (annual rate ÷ 12)
For example, if you deposit ₹10,000 monthly for 12 months at an annual interest rate of 7.5%, the monthly rate will be 7.5% ÷ 12 = 0.625%. The maturity amount will be approximately ₹1,25,000, with ₹5,000 earned as interest.
Key Benefits of Recurring Deposits
Regular Savings Habit
RDs help you develop a disciplined approach to saving money regularly, which is essential for long-term financial stability and wealth creation.
Guaranteed Returns
Unlike market-linked investments, RDs offer fixed interest rates, providing predictable returns and eliminating the risk of losing your principal amount.
Low Entry Barrier
You can start an RD with as little as ₹100 per month, making it accessible to people from all income groups.
Flexible Tenure
RDs offer flexible tenures ranging from 6 months to 10 years, allowing you to choose a period that aligns with your financial goals.
Loan Facility
Many banks offer loans against RDs, allowing you to access funds in emergencies without breaking your investment.
Frequently Asked Questions
What is the minimum amount for RD?
Can I withdraw my RD before maturity?
Is RD interest taxable?
What is the maximum tenure for RD?
Can I change my monthly deposit amount?
💡 Pro Tip: Use Our RD Calculator
Our advanced RD calculator above helps you plan your recurring deposits with precision. Try different scenarios by adjusting the monthly deposit amount, tenure, and interest rates to find the perfect savings strategy for your financial goals. Start saving regularly and watch your wealth grow steadily!