About rd calculator
A recurring deposit (RD) lets you save a fixed amount every month for a set period and earn interest, like a small FD built over time.
Who it suits
People who want to build a safe, regular saving habit without market risk. Payments are fixed, and the bank pays the total plus interest at maturity.
Things to know
- Missing a monthly deposit can attract a penalty.
- Interest is usually compounded quarterly.
- The interest is taxable.
A worked example
A deposit of ₹5,000 a month for 24 months at 6.5 percent with quarterly compounding means you put in ₹1,20,000 and receive roughly ₹1.28 lakh. Banks compute recurring deposits slightly differently, so confirm the exact maturity value with your bank.
Linked to a salary date
Set the instalment to be debited just after salary day. Missing instalments can bring penalties or lower the final value.
