RD Calculator (Bank Recurring Deposit)

Save a fixed amount every month and see exactly what you will get back. Works for SBI, HDFC, ICICI, post office and any other RD.

Quarterly compounding as used by banks; TDS limit ₹50,000 (₹1 lakh seniors).Calculated in your browser. The amounts you enter are never sent to us or stored.

Quick answer

Banks and India Post compound RD interest every quarter. A ₹5,000 monthly RD for 5 years at 6.5% grows to about ₹3,54,950: you deposit ₹3,00,000 and earn about ₹54,950 interest. RD interest is taxable, and banks deduct TDS when your total interest from that bank crosses ₹50,000 in a year (₹1,00,000 for senior citizens).

How to use the RD Calculator (Bank Recurring Deposit)

Enter the monthly instalment.
Enter your bank's RD interest rate.
Choose the tenure.
Read the maturity value, interest and yearly table.

Worked example

₹2,000 a month for 1 year at 6.8%: deposited ₹24,000, maturity about ₹24,897.

Formula

M = R × [(1 + i)^n − 1] ÷ [1 − (1 + i)^(−1/3)]
R = monthly instalment, i = rate ÷ 400, n = number of quarters

Frequently asked questions

How is RD interest calculated?

Each monthly instalment earns interest compounded every quarter until maturity. The formula above gives the same result as bank RD calculators.

Is TDS deducted on RD interest?

Yes. Banks deduct TDS when your total interest from all deposits with that bank crosses ₹50,000 in a financial year (₹1,00,000 for senior citizens). If your income is below the taxable limit, submit Form 15G (or 15H if 60+).

What if I miss an instalment?

Banks usually charge a small penalty and may close the RD after several missed instalments. Check your bank's rules.

Bank RD or post office RD?

Post office RD runs for 5 years at a government-set rate (6.7% for October–December 2026). Bank RDs offer flexible tenures and rates that change with the market.

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