RD Calculator
How to Use
- Enter your monthly deposit amount
- Enter the annual interest rate offered by your bank
- Enter the tenure in years
- Click Calculate to see maturity amount
RD Maturity Formula
A = P × [((1 + r)^n - 1) / r] × (1 + r)
Example: Where P = Monthly deposit, r = Monthly interest rate, n = Number of months
Frequently Asked Questions
What is a Recurring Deposit (RD)?
A Recurring Deposit is a savings scheme where you deposit a fixed amount every month for a fixed period. It is offered by banks with interest.
What are the benefits of RD?
RD helps in disciplined saving, accumulates wealth through compound interest, and is safer than other investment options with guaranteed returns.
What is the typical tenure for RD?
RD tenure usually ranges from 6 months to 10 years. You can choose based on your financial goals and requirements.
Is RD interest taxable?
Yes, interest earned on RD is taxable. TDS is deducted if annual interest exceeds ₹40,000 (₹50,000 for senior citizens).