Recurring Deposit Calculator
Calculate maturity amount for your monthly recurring deposit
RD Details
₹
%
years
About RD:
Recurring Deposit is a term deposit where you invest a fixed amount monthly. Interest is compounded quarterly in most banks.
Maturity Amount
₹3,00,495.63
Total Deposit
₹3,00,000.00
Interest Earned
₹495.63
Breakdown
Monthly Deposit₹5,000.00
Number of Deposits60 months
Total Deposited₹3,00,000.00
Interest Rate6.5% p.a.
Interest Earned₹495.63
Maturity Value₹3,00,495.63
Composition
Total Deposit99.8%
Interest Earned0.2%
What is Recurring Deposit?
A Recurring Deposit (RD) is a special type of term deposit offered by banks which helps people with regular income to deposit a fixed amount every month into their RD account and earn interest.
RD is ideal for those who want to save regularly and earn better returns than a savings account, while maintaining the safety of a bank deposit.
Key Features of RD
- •Fixed monthly installments for disciplined savings
- •Tenure ranging from 6 months to 10 years
- •Interest rates similar to Fixed Deposits
- •Senior citizens get additional 0.5% interest
- •Premature withdrawal allowed with penalty