Calculate your Recurring Deposit maturity amount and total interest earned. RD compounding is done quarterly in India. Supports all bank RD tenures.
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The fixed amount you commit every month.
Check your bank current RD rate. Senior citizens get extra 0.25-0.50%.
See total deposited, interest earned, and final corpus.
Each monthly instalment earns quarterly compound interest for its remaining tenure. r = Annual rate divided by 400.
FD requires a one-time lump sum. RD is fixed monthly deposits over a period. RD is ideal when you save consistently each month rather than having a lump sum available.
Yes. RD interest is taxable as Income from Other Sources at your slab rate. TDS at 10% applies if total bank interest exceeds Rs.40,000 per year.
Yes with a penalty — typically 1% less than the applicable rate for the completed period.
SIP in equity funds has historically returned 12-15% versus RD at 6-7.5%. RD is capital-guaranteed. Use RD for short-term goals under 3 years, SIP for 5+ year goals.
FD gives a lump sum investment and slightly higher interest. RD builds savings monthly and suits regular savers. RD interest rates are typically 0.25-0.5% lower than FD. Choose RD if you need disciplined monthly saving.