Note: Interest is compounded quarterly.
Adjust sliders to see the maturity value.
Recurring Deposit (RD) is a savings scheme where you deposit a fixed amount monthly. It's similar to FD but with flexible monthly deposits.
your monthly deposit in Monthly Deposit.
the interest rate and tenure.
the maturity amount and interest earned.
RD rates similar to FD rates.
commonly 1-5 years.
may have penalties.
check rates across banks.
A Recurring Deposit (RD) is a special kind of term deposit offered by banks and post offices in India. It is an investment tool that allows people to make regular monthly deposits and earn a fixed rate of interest on their savings. It's an ideal choice for individuals who want to build a savings habit and accumulate a significant corpus over a period of time.
Unlike a lump-sum Fixed Deposit (FD), an RD allows you to invest a fixed amount every month for a pre-defined period, making it accessible for salaried individuals and small savers.
When you open an RD account, you commit to depositing a fixed amount every month for a specified tenure, which can range from 6 months to 10 years. The bank pays interest on the deposited amount, which is typically compounded quarterly. This means the interest earned is added to the principal every three months, and future interest is calculated on this new, larger amount. Our RD calculator uses this quarterly compounding logic to provide accurate maturity projections.
To get the most out of your Recurring Deposit, follow these simple tips:
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