RD Calculator

In a recurring deposit every instalment earns interest only for the months it stays with the bank: the first one for the whole tenure, the last one for a single month. Banks compound that interest every quarter, so an instalment that stays k months grows by (1 + r ÷ 400) to the power k ÷ 3. Adding up every instalment gives the formula banks print, M = R × ((1 + i)^(n/3) - 1) ÷ (1 - (1 + i)^(-1/3)), with i = r ÷ 400 and n the number of months. The calculator adds the instalments one by one and checks against that formula.

A worked example. ₹5,000 a month at 8% for 12 months gives ₹62,647, the same figure ICICI Bank shows: you pay in ₹60,000 and earn ₹2,647. ₹5,000 a month at 6.8% for 5 years gives ₹3,57,771, of which ₹3,00,000 is your money and ₹57,771 is interest.

RD interest counts for TDS in the same way as FD interest. If interest from all your deposits with one bank crosses ₹50,000 in a tax year, or ₹1,00,000 for senior citizens, the bank deducts TDS, usually 10% with PAN, under section 393 of the Income-tax Act, 2025. The result shows the first year's interest against that limit.

The calculator assumes every instalment is paid on time. Banks charge a small penalty for late instalments and may close an RD after several missed ones, so the maturity amount on your passbook can be lower if instalments were late.

Your monthly instalment, rate and dates are worked out inside your browser tab and never sent to TaskNinja. Nothing is saved or logged, there is no account to create, and once the page has loaded the calculator works offline. Only anonymous usage counts are recorded, never the figures you enter.

Treat the result as a planning figure. Each bank sets its own RD rates, and senior citizens often get a little more, so use the rate from your bank's current rate card. Your RD passbook or statement is final.