Recurring Deposit (RD) Calculator

You commit to depositing a fixed amount each month for a fixed tenure. Interest compounds on the growing balance (banks usually compound quarterly). On maturity you receive the aggregate of installments plus compounded interest; premature closure attracts a penalty as per bank rules.

Post Office RD is government-backed with rates notified quarterly; bank RDs follow each bank’s schedule. Both are popular for disciplined savings. Use published rates and tenure to compare effective maturity for the same monthly installment.

Yes. RD interest is added to your income and taxed as per your slab. Banks may deduct TDS if the total interest from deposits exceeds applicable thresholds; you can submit Form 15G/15H if eligible to avoid TDS.