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Recurring Deposit is a savings scheme where you deposit a fixed amount monthly for a specified period and earn interest on the accumulated balance. Our RD calculator helps you estimate the maturity amount, total interest earned, and monthly deposit requirements for your RD investments.
Enter your monthly deposit amount, interest rate, and time period in months. The calculator computes the total deposits, interest earned through quarterly compounding, and final maturity amount.
While FDs require lump sum investment, RDs allow systematic monthly investments. RDs typically offer similar interest rates to FDs and provide the benefit of rupee-cost averaging through regular deposits.
Choose longer tenures for better returns, maintain regular deposits to avoid penalties, compare rates across banks, and consider auto-debit for uninterrupted investments. RD is ideal for building emergency funds or saving for specific goals.
Minimum monthly deposit varies by bank, typically ranging from ₹100 to ₹1,000. Maximum limits are usually ₹1 lakh or more per month.
Premature withdrawal is possible but may result in reduced interest rates. Some banks allow partial withdrawals after minimum periods.
Interest is compounded quarterly on the minimum balance maintained during the quarter, providing better returns than simple interest.