M = R × [{(1+r/n)^(n×t) - 1} / {(1+r/n)^(1/n) - 1}]
Calculate Recurring Deposit Maturity | Total Interest | Effective Yield
Recurring Deposit (RD) is a popular savings scheme offered by banks and post offices where you deposit a fixed amount every month. Your money grows with compound interest, and you receive a lump sum at maturity. It's ideal for disciplined monthly savers who want to build a corpus over time.
M = Maturity R = Monthly Deposit r = Interest Rate n = Compounding t = Years
| Bank | RD Rate | Feature |
|---|---|---|
| SBI | 6.8% - 7.0% | 1-10 years |
| HDFC | 7.2% - 7.5% | Senior citizen +0.5% |
| ICICI | 7.0% - 7.3% | Monthly payout |
| Axis | 7.1% - 7.4% | Flexible tenure |
| Kotak | 7.3% - 7.6% | Highest among private |
| Post Office | 6.7% - 7.0% | Government backed |
Interest earned on RD is fully taxable. TDS at 10% if interest exceeds ₹40,000/year (₹50,000 for senior citizens). Submit Form 15G/15H to avoid TDS.