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RD Calculator
Calculate recurring deposit maturity value and total interest for systematic monthly savings.
About This Calculator
A Recurring Deposit (RD) lets you deposit a fixed amount every month and earn compound interest on the accumulated balance. RDs are offered by Indian banks and post offices. This calculator uses the standard quarterly compounding formula used by most Indian banks.
How to Use This Calculator
- 1Enter the monthly deposit amount
- 2Enter the annual interest rate of the RD
- 3Enter the RD tenure in years
- 4Click Calculate to see maturity amount
Formula Used
RD Maturity = M × [(1+r)^n − 1] / r × (1+r) where r = quarterly rate
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FAQ
Frequently Asked Questions
Common questions about the rd calculator answered.
What is the minimum RD amount?+
Most Indian banks allow RDs starting from Rs 100 per month. Post office RDs start from Rs 100 per month. There is typically no maximum limit for bank RDs.
Is RD interest taxable?+
Yes. RD interest is taxable as per your income tax slab. TDS is deducted at 10 percent if total interest exceeds Rs 40,000 per year (Rs 50,000 for senior citizens) across all deposits in the same bank.
Can I withdraw RD before maturity?+
Yes, but premature RD withdrawal attracts a penalty of 1 to 2 percent reduction in the interest rate. Post office RDs do not allow premature closure before 3 months. Always check your bank's terms before opening an RD.
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