Calculate your Recurring Deposit maturity amount and interest. Compare RD rates from SBI, HDFC, Post Office and all major banks. Find the best RD for your savings goal.
✓ Exact maturity amount
✓ Monthly growth chart
✓ Bank rate comparison
✓ Free, no login
🏦 RD Calculator
Enter your monthly deposit amount and RD tenure to see your maturity value
Monthly Deposit Amount
₹
₹100₹1L
RD Tenure
Years
3 months10 years
Interest RateCompounded quarterly
% p.a.
3%12%
⚡ Load Bank RD Rates (2026)
🏦 Maturity Amount
—
at 7% for 2 years
Total Deposited
—
Interest Earned
—
Effective Yield
—
RD Corpus Growth Month by Month
💡 RD vs FD vs SIP: RD is great for disciplined monthly saving with guaranteed returns. FD gives higher effective returns for lumpsum. SIP in equity mutual funds delivers better long-term returns but with market risk. Choose RD when you want safety, guaranteed returns and need to build a corpus through fixed monthly savings.
RD Interest Rates — All Banks 2026
Current Recurring Deposit interest rates from major Indian banks. Click "Use" to instantly calculate your RD maturity.
Bank
General Rate
Senior Citizen
Min Amount
Features
SBI
6.80%
7.30%
₹100/mo
Lowest minimum, government-backed
HDFC Bank
7.00%
7.50%
₹1,000/mo
Fast digital process, flexible tenure
ICICI Bank
7.10%
7.60%
₹500/mo
iRD — fully digital, no paperwork
Axis Bank
7.25%
7.75%
₹500/mo
Higher rates for 2-3 year tenures
Kotak Mahindra
7.20%
7.70%
₹500/mo
Good digital banking experience
Post Office RD
6.70%
6.70%
₹100/mo
Government-backed, safest option
Small Finance Banks
7.50-8.50%
8.00-9.00%
₹500/mo
Highest rates, DICGC insured up to ₹5L
⚠️ Rates are indicative and change frequently. Always verify current rates directly with your bank before opening an RD.
RD FAQs
Common questions about Recurring Deposits in India
What is a Recurring Deposit (RD) and how does it work? +
A Recurring Deposit (RD) is a savings product offered by banks and post offices where you deposit a fixed amount every month for a predetermined tenure. At maturity, you receive your total deposits plus the accumulated interest. RDs offer guaranteed returns at a predetermined interest rate — making them ideal for people who want to save regularly but prefer safety over stock market exposure. Interest is compounded quarterly in most Indian banks.
How is RD interest calculated in India? +
RD interest is calculated using the formula: M = R × [(1+i)^n – 1] / (1-(1+i)^(-1/3)) where M = Maturity value, R = Monthly installment, i = Rate of interest/400 (quarterly), n = Number of quarters. In simple terms, each monthly deposit earns compound interest for the remaining tenure. A deposit made in month 1 earns interest for the full tenure. A deposit in the last month earns interest for just one month.
Is RD interest taxable in India? +
Yes, RD interest is fully taxable. It's added to your income and taxed as per your income tax slab rate. If total interest from all RDs and FDs exceeds ₹40,000 per year (₹50,000 for senior citizens), TDS of 10% is deducted by the bank. You can submit Form 15G (below 60 years) or Form 15H (senior citizens) to avoid TDS if your total income is below the taxable limit. Unlike PPF or ELSS, there's no tax exemption on RD returns.
Can I break an RD before maturity? +
Yes, most banks allow premature withdrawal of RD. However, you'll receive a lower interest rate — typically 1% less than the applicable rate for the period the RD was held. Example: If you opened an RD at 7% for 2 years but close it after 1 year, you'll get the 1-year rate minus 1% penalty. Post Office RD has a lock-in of 3 months — you cannot close before that. Missing monthly instalments usually attracts a penalty of ₹1-₹2 per ₹100 per month.
RD vs SIP — which is better for monthly savings? +
RD is better when: You need guaranteed returns (no market risk), saving for a short-term goal (1-3 years), you're a conservative investor or senior citizen, or you need the discipline of mandatory monthly savings. SIP is better when: You have a long-term horizon (5+ years), you're comfortable with market volatility for higher returns, saving for goals like retirement or child education. Historically, equity mutual fund SIPs deliver 11-14% CAGR vs RD's 6.5-7.5%. For short-term goals (<3 years) use RD. For long-term wealth building (5+ years), SIP wins convincingly.