Recurring Deposit (RD) Calculator
Calculate your guaranteed maturity payout and total interest yield on monthly recurring bank deposits with standard Indian banking quarterly compounding.
Recurring Deposit Parameters
Calculate guaranteed returns on monthly bank savings with quarterly compounding interest.
Guaranteed Capital Protection
Unlike market-linked SIPs, bank Recurring Deposits offer 100% principal protection and a guaranteed fixed interest rate locked in on day one, fully insured under DICGC up to ₹5 Lakhs per depositor.
Frequently Asked Questions on Bank Recurring Deposits
How is interest calculated on a Recurring Deposit (RD)?
In India, Recurring Deposit interest is compounded quarterly using the standard Indian Banks Association (IBA) formula. Each monthly installment earns interest for the remaining fraction of the year until the deposit matures.
What is the minimum and maximum tenure for a bank RD?
The minimum tenure for a bank Recurring Deposit in India is generally 6 months, and the maximum tenure is 10 years (120 months), available in multiples of 3 months.
Is TDS deducted on Recurring Deposit interest?
Yes, like Fixed Deposits, interest earned on Recurring Deposits is subject to Tax Deducted at Source (TDS) under Section 194A if total interest from all deposits in a bank exceeds ₹40,000 for regular individuals (₹50,000 for senior citizens).