• Fill the Monthly Amount data
• Select the tenure in Months using slider
• Move the slider and select the Interest Rate 
• Your maturity RD amount will be displayed.

You can recalculate your RD maturity amount anytime by changing the inputs.

How is RD interest calculated?

Interest on RD is compounded quarterly, in most banks. The formula for this is :

M = R[(1+i)^n-1]/(1-(1+i)^(-1/3) )

In this,

M = Maturity Value

R = Monthly Installment

n = Number of quarters

I = Rate of interest/400

So, if you invest in RD and put in Rs. 5,000 per month for a year, at the interest rate of 8%, your total value will be calculated as:

R = 5000
n = 4 (one year has four quarters)
I = 8.00/400

M = Rs. 62, 647 in one year

Benefits of RD Calculator

• Convenience: Users can easily calculate the maturity amount they will earn based on deposit amount, tenure, and interest rates, facilitating efficient financial planning and goal setting.
• Time-Saving: The calculator eliminates the need to remember complex formulas and perform intricate calculations, saving users valuable time.
• Financial Planning: It aids in planning savings effectively and provides insights into the returns on investments, enabling informed financial decisions.
• Comparison: Investors can compare various RDs' interest rates and choose the most beneficial plan.
• Free to use: The calculator is available online at no cost and can be utilised multiple times for comparison and analysis.

Tax Benefits on RD

• Similar to other personal tax-saving and investment instruments, Recurring Deposit schemes also attract taxes. A TDS of 10% is deducted on the returns accrued from a RD, if the total interest exceeds Rs. 10,000 in a single financial year.
• Compare this to the SIP scheme and you can see that SIPs are more beneficial for the long term. Since long-term gains from equity are tax free, any SIP which invests in ELSS (Equity Linked Mutual Funds) is also tax free after one year.