What is a RD Calculator?
A Recurring Deposit Calculator computes the maturity amount for monthly RD accounts in banks and post offices. It uses compound interest (quarterly for most RDs) to show exactly how your regular monthly savings grow over the tenure.
Benefits of Using Rupee Logic RD Calculator
Exact Maturity
Get the precise maturity amount for any bank or Post Office RD with quarterly compounding.
Bank Comparison
Compare RD returns across banks by changing interest rates — find the best RD offer instantly.
Safe Returns
RDs are low-risk instruments; Post Office RDs have sovereign guarantee from the Government of India.
Goal Matching
Set a target maturity amount and work backwards to find the required monthly deposit.
Frequently Asked Questions — RD Calculator
Post Office Recurring Deposit (5-year) currently offers 6.7% per annum, compounded quarterly (FY 2024-25). Bank RD rates vary: SBI offers 6.5-7.0%, HDFC 7.0-7.25%, and small finance banks up to 7.5-8.0% depending on tenure. Senior citizens typically get an additional 0.25-0.50% over standard rates.
Yes. RD interest is fully taxable as per your income tax slab under Income from Other Sources. TDS of 10% is deducted if total interest across all branches exceeds ₹40,000 per year (₹50,000 for senior citizens). Submit Form 15G (below 60) or 15H (60+) to avoid TDS if your total income is below the taxable limit.
Post Office RD: Minimum ₹100/month, no maximum. Bank RDs: Most banks start at ₹100-500/month with no upper limit. Post Office RD tenure is fixed at 5 years. Bank RDs offer flexible tenures from 6 months to 10 years. Premature closure before 1 year is not allowed for Post Office RD; banks allow premature closure with a small interest penalty.
RD interest is compounded quarterly. The formula: M = R × [(1+i)^n – 1] / [1–(1+i)^(-1/3)], where R is monthly deposit, i is quarterly interest rate (annual rate/4), and n is number of quarters. Our calculator applies this exact formula used by all Indian banks and the Post Office.
Choose RD if you have regular monthly income and want to save a fixed amount every month. Choose FD if you have a lump sum ready to invest and want higher returns from compounding on the full amount from day one. For the same tenor and rate, FD always gives higher returns than RD because the full principal earns interest from day one.