Yes, this RD calculator is 100% free to use without any hidden charges, subscriptions, or premium features. You can calculate unlimited recurring deposit maturity amounts, compare different bank rates, and generate detailed breakdowns without paying anything. There is no signup or registration required. Every feature you see on this page is completely free and will remain free forever.

Absolutely. Your financial data is completely safe because all RD calculations happen directly in your web browser using JavaScript. No data is sent to any server, stored in any database, or shared with any third party. We do not collect your deposit amounts, interest rates, or any personal information. When you close this page, all entered data is automatically cleared from your browser memory.

This RD calculator uses the standard quarterly compounding formula that Indian banks and post offices use for recurring deposits. The formula accounts for each monthly installment separately and compounds interest quarterly, matching the method used by SBI, HDFC Bank, ICICI Bank, and India Post. Results are accurate to the nearest rupee. Minor differences with actual bank statements may occur due to rounding methods or exact date calculations.

This calculator uses the compound interest formula for recurring deposits: M = P × [(1 + r/n)^(n×t) - 1] / (1 - (1 + r/n)^(-1/3)), where P is the monthly deposit, r is the annual interest rate, n is the compounding frequency per year, and t is the tenure in years. For quarterly compounding (most common in India), n equals 4. Each monthly installment earns compound interest for its remaining tenure period.

As of 2024-2025, the India Post Office offers an RD interest rate of approximately 6.7% per annum for a 5-year recurring deposit with quarterly compounding. This rate is revised quarterly by the Government of India. Post office RD rates are generally competitive and offer sovereign guarantee, making them a safe investment option. You can use this calculator with the current rate to estimate your maturity amount.

Yes, this calculator works for any bank's recurring deposit including SBI, HDFC Bank, ICICI Bank, Axis Bank, Bank of Baroda, Punjab National Bank, Canara Bank, and all other Indian banks. Simply enter the specific interest rate offered by your bank and the tenure of your RD. Different banks offer different rates based on tenure and whether you are a senior citizen. Check your bank's latest RD rate card for the most accurate calculation.

Most Indian banks offer recurring deposits with a minimum tenure of 6 months and maximum tenure of 10 years (120 months). Post office RDs have a fixed tenure of 5 years (60 months). Some banks also offer flexible tenures in multiples of 3 months. This calculator supports any tenure from 1 month to 120 months, covering all possible RD periods offered by Indian financial institutions.

Yes, most Indian banks offer an additional 0.25% to 0.75% higher interest rate on recurring deposits for senior citizens aged 60 years and above. For example, if the regular RD rate is 7%, senior citizens might get 7.50%. Some banks like SBI and HDFC offer super senior citizen rates (80+ years) with even higher benefits. Enter the senior citizen rate in this calculator to see your enhanced returns.

Yes, interest earned on recurring deposits is fully taxable in India under the head 'Income from Other Sources' as per your income tax slab. If the total interest from all RDs and FDs in a bank exceeds ₹40,000 per year (₹50,000 for senior citizens), the bank deducts TDS at 10%. You can submit Form 15G or 15H to avoid TDS if your total income is below the taxable limit. This calculator shows pre-tax returns.

If you miss an RD installment, most banks charge a penalty of ₹1 to ₹2 per ₹100 of the monthly deposit for each month of delay. If you miss more than 3-4 consecutive installments, the bank may prematurely close your RD account. Some banks allow revival within a specific period. Post office RDs allow up to 4 defaults but charge a penalty. It is best to set up auto-debit to avoid missing installments.

A recurring deposit (RD) offers guaranteed fixed returns with zero market risk, making it ideal for conservative investors. A SIP (Systematic Investment Plan) in mutual funds invests in the stock market and offers potentially higher but variable returns with market risk. RD interest rates are typically 5-8% while equity SIPs have historically delivered 10-15% over long periods. RDs are suitable for short-term goals while SIPs work better for long-term wealth creation.

Yes, you can prematurely close a recurring deposit before maturity, but most banks charge a penalty of 0.5% to 1% on the interest rate. The interest is recalculated at the rate applicable for the actual period the deposit was held, minus the penalty. Some banks may not allow premature withdrawal within the first month. Post office RDs can be closed after 3 years with a penalty. Check your bank's specific terms before opening an RD.

Monthly compounding gives the highest returns, followed by quarterly, half-yearly, and yearly compounding. However, most Indian banks compound RD interest quarterly as per RBI guidelines. The difference between monthly and quarterly compounding is relatively small. For example, on a ₹10,000 monthly RD at 7% for 5 years, quarterly compounding gives approximately ₹7,16,370 maturity while monthly compounding gives around ₹7,17,590, a difference of roughly ₹1,220.