RD Calculator – Online Recurring Deposit Calculator India

There are different investment tools for individuals looking to build their wealth, and recurring deposit is one such option. Banks and financial institutes offer RD as an investment tool with a monthly payment. You can use the RD calculator online to check your returns, which can be complex when done manually. Below, we have shared an overview of the RD and the calculator insight.

What is a Recurring Deposit?

Recurring deposits, or RDs, are a type of financial option that enables long-term savings and recurring monthly payments from investors. You can select the monthly minimum amount and deposit length depending on what works best. When saving money and creating a long-term fund, investors wish to open an account for RD plans over FD schemes since they are more flexible.

Recurring Deposit
(RD) Calculator

Know more about FD Calculator Click – FD Calculator

What Benefits do you get with RD?

Since the investment in RD is done monthly, you can expect a good return after maturity. Some of the benefits you get with RD are-

  • RD is a suitable collateral for loan applications. Up to 80–90% of your RD amount may be lent.
  • Under RD, you get an early withdrawal. But it comes with a penalty.
  • Under RD programs, seniors receive a higher interest rate (often 0.5% more).
  • Additionally, minors may open RD accounts with parental supervision and guardianship.
  • You have the option of choosing the tenure from 6 months to 10 years.

What is the Role of the RD Calculator?

Banks offer a range of recurring deposits for seniors, kids, NRIs, and other groups; the interest rate varies. Calculating RD manually can be time-consuming. A recurring deposit calculator is the best tool to show you the results in seconds.

With an RD deposit calculator, investors can see how much their deposits will grow after the applicable term, saving them the trouble of manually calculating returns.

What is the Formula for RD Calculation?

There are four variables to consider when using the RD online calculator. The formula is-

  • M = R[(1+i)^n-1]/(1-(1+i)^(-1/3) )
  • M = Maturity Value
  • R = Monthly Installment
  • n = Number of quarters
  • I = Rate of interest

If you invest Rs 10,000 per month for the next 10 years at the interest rate of 6.5%. The maturity amount would be Rs 16,89,871/- with an estimated return of Rs 4,89,871/

How to use RD Calculator?

Using a recurring deposit calculator is relatively easy. It will save enough time, and no need to use the formula. Moreover, it will help you plan your financial investment and savings. Here is how you can use-

  • Enter the total amount you want to invest monthly.
  • Enter total tenure.
  • Interest rate (may differ)
  • Click on the calculate my RD.
  • You will get the result.


RD is the right option for those who get a pretty good salary or income every month and want to invest in a long-term return tool. With a recurring deposit calculator, you can plan your financial investment accordingly.

FAQs – RD Calculator

1. Can I save tax on recurring deposits?

Ans. Yes, RDs can save your tax. If funds are deposited into a recurring deposit for a specific timeline, you don’t have to pay any tax.

2. Can the principal amount be withdrawn from RD before maturity?

Ans. Yes, you can withdraw by putting up a request to the bank. However, you will get the interest until the money is kept in the bank.

3. Is the RD calculator reliable to use?

Ans. The online RD calculator is reliable and gives accurate results per the interest rate entered.

4. How long has the tenure of RD been?

Ans. The tenure for RD can be from 6 months to 10 years.

5. What is the total deposit amount in RD?

Ans. The minimum deposit amount for RD depends on your ability to invest. It can be from Rs 10 to Rs 10,000 or more monthly.

6. Is a recurring deposit better than a fixed deposit?

Ans. The sole difference between FD and RD is the deposit method. In FD, you must pay in lumpsum, but in RD, you must pay monthly for specific tenure. As a result, the return differs in both. An investor can select any of them based on his needs.

7. What if I miss the monthly RD payment?

Ans. There will be a cash or interest penalty in case of missing RD monthly payment. Also, your maturity amount will be impacted in any scenario.

8. Is it possible to withdraw the RD amount prematurely?

Ans. In RD, there is no partial withdrawal. Moreover, there is no option of only interest withdrawal.