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Plan your recurring deposits with our free RD calculator. Get accurate maturity amounts with year-wise growth projections.
Compounding
Total Deposits
₹3,00,00083.9% of total
Interest Earned
₹57,59016.1% of total
Maturity Amount
₹3,57,5907.19%
| Year | Deposits | Returns | Corpus |
|---|---|---|---|
| Year 1 | ₹60,000 | ₹1,951 | ₹61,951 |
| Year 2 | ₹1,20,000 | ₹8,354 | ₹1,28,354 |
| Year 3 | ₹1,80,000 | ₹19,529 | ₹1,99,529 |
| Year 4 | ₹2,40,000 | ₹35,819 | ₹2,75,819 |
| Year 5 | ₹3,00,000 | ₹57,590 | ₹3,57,590 |
A Recurring Deposit (RD) is a systematic savings scheme where you deposit a fixed amount every month for a fixed tenure. It helps build a habit of regular saving while earning competitive interest rates with quarterly compounding.
If you deposit ₹5,000 per month in an RD at 6.5% per annum for 5 years, your total deposits of ₹3,00,000 would grow to approximately ₹3,53,847. The total interest earned would be ₹53,847, with an effective yield of 6.68%.
For a monthly outflow of ₹5,000 over 5 years: RD at 6.5% yields about ₹3,53,847 with guaranteed returns. FD requires a lump sum of ₹3,00,000 upfront and at 7% yields about ₹4,24,429. SIP in equity mutual funds at 12% expected return would yield about ₹4,12,432, but returns are market-linked and not guaranteed.
A Recurring Deposit (RD) is a savings scheme where you deposit a fixed amount every month for a fixed tenure and earn interest at a predetermined rate.
RD interest is calculated using the future value of annuity formula with quarterly compounding, which is the standard for bank RDs in India.
Most banks allow RD accounts with a minimum monthly deposit of ₹100. There is no upper limit.
Yes, most banks allow premature closure of RD accounts, but a penalty of 0.5-1% is usually charged on the applicable interest rate. Some banks may also deduct TDS on interest paid.
Yes, interest earned on RD is fully taxable as per your income tax slab. Banks deduct TDS at 10% if total interest exceeds ₹40,000 in a financial year.