Calculate Recurring Deposit maturity amount and total interest earned
| Quarter | Deposited | Interest | Balance |
|---|
| Bank | Tenure | Rate |
|---|---|---|
| SBI | 1-2 years | 7.00% |
| HDFC Bank | 1-2 years | 7.40% |
| ICICI Bank | 1-2 years | 7.60% |
| Axis Bank | 1-2 years | 7.75% |
| Kotak Mahindra | 1-2 years | 7.50% |
| IDFC FIRST Bank | 1-2 years | 8.25% |
* Rates are indicative. Verify current rates on respective bank websites.
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A Recurring Deposit (RD) is a savings scheme where you deposit a fixed amount every month and earn interest. Our RD Calculator shows you the maturity amount and total interest for any monthly deposit, interest rate, and tenure.
Current RD rates in India range from 6.5% to 8.25% depending on the bank. SBI offers 7%, HDFC offers 7.4%, and small finance banks offer up to 8.5%. Senior citizens get an additional 0.5% interest rate.
What is the difference between RD and FD?
In a Fixed Deposit you deposit a lump sum once, while in a Recurring Deposit you deposit a fixed amount every month. RD is ideal for those who want to save regularly from their monthly salary.
Is RD interest taxable?
Yes. RD interest is fully taxable as per your income tax slab. TDS is deducted if total interest from all deposits in a bank exceeds ₹40,000 per year (₹50,000 for senior citizens).