A Recurring Deposit (RD) is a savings plan offered by banks and post offices where you invest a fixed amount every month for a fixed time period and earn interest on it. It’s like building a savings habit — bit by bit, every month.
A Recurring Deposit Calculator is an easy tool that helps you know how much you’ll receive at the end of the RD period — called the maturity amount. It removes all the math stress and gives you the result in seconds.
💰 RD Calculator
Calculate your Recurring Deposit returns with compound interest
📈 Current Market Rates
Popular Banks RD Rates: SBI: 6.50%, HDFC: 6.75%, ICICI: 6.80%, Axis: 7.00%, PNB: 6.60% | Rates may vary, please check with your bank for current rates
📊 Your Investment Summary
Total Investment
Interest Earned
Maturity Amount
📅 Interest Earning Schedule
🧮 How Does RD Calculator Work?
You enter:
- Monthly deposit (How much you’ll save every month)
- Interest rate (Offered by bank/post office)
- Time period (How long you’ll save — in months or years)
The calculator then uses a formula to compute the maturity value — i.e., total amount you’ll get after the RD period.
✅ RD Calculator Formula (Simple Explanation)
The standard formula is:
Maturity Amount = P × [ (1 + r/n) ^ (nt) – 1 ] ÷ (1 – (1 + r/n) ^ -1/n )
Where:
- P = Monthly deposit
- r = Annual interest rate in decimal (e.g. 7% = 0.07)
- n = Number of times interest is compounded per year (usually 4 for quarterly)
- t = Time in years
But don’t worry about the math — the calculator does this for you.
🧑🏫 Example in Real Life
Say you deposit ₹5,000 every month for 3 years (36 months), and the interest rate is 6.5% per annum (compounded quarterly).
🔹 Without a calculator, it’s hard to figure out the maturity.
🔹 With an RD Calculator, you just enter:
- ₹5,000 monthly deposit
- 6.5% interest rate
- 3 years duration
And you’ll instantly see:
- Total Deposited Amount: ₹1,80,000
- Interest Earned: ~₹18,621
- Maturity Value: ₹1,98,621
💡 Why Use an RD Calculator?
✅ Instant calculation
✅ No need to understand complex formulas
✅ Helps in financial planning
✅ Compare RDs from different banks
📌 Key Points to Remember
RD interest is taxable if interest earned crosses ₹40,000 in a year (₹50,000 for seniors).
Most RDs offer quarterly compounding.
Minimum deposit varies by bank — ₹100 or ₹500 usually.
