RD Calculator — Recurring Deposit Calculator
Developed by Hemant Parashar, B.Sc.Calculate maturity returns and total interest earned on Recurring Deposits across Post Office RD, SBI RD, HDFC, ICICI, PNB, and major Indian banks.
Banking Disclaimer
Calculations are approximations using quarterly compounding. Interest rates are subject to change by banks and Post Office per RBI/Government directives. TDS/Taxes are not included.
RD Deposit Information
RD Maturity Breakdown
📊 Popular Bank & Post Office RD Interest Rates (2026)
Compare Recurring Deposit interest rates across major Indian banks and Post Office for general public and senior citizens:
| Bank / Institution | Standard RD Rate (% p.a.) | Senior Citizen Rate (% p.a.) | Tenure Range |
|---|---|---|---|
| 📮 Post Office RD | 6.70% | 6.70% | 5 Years (60 Months) |
| 🏛️ SBI | 6.80% | 7.30% | 12 to 120 Months |
| 🏦 HDFC Bank | 7.00% | 7.50% | 6 to 120 Months |
| 💳 ICICI Bank | 7.00% | 7.50% | 6 to 120 Months |
| 🏢 PNB | 6.75% | 7.25% | 6 to 120 Months |
| 🌐 Bank of Baroda | 6.85% | 7.35% | 6 to 120 Months |
How Post Office RD & Bank RD Calculations Work
A Recurring Deposit (RD) is one of the safest guaranteed-return investment instruments in India. Unlike a Fixed Deposit (FD) where you invest a single lump sum, an RD allows you to save a fixed monthly installment over a pre-determined period while earning compounded quarterly interest.
Standard Quarterly Compounding RD Formula
Indian banks (including SBI, HDFC, ICICI, PNB) and the Indian Post Office calculate RD returns using quarterly compounding:
Where:
- M: Maturity Value (₹)
- P: Monthly Installment Amount (₹)
- i: Quarterly Interest Rate (R / 400)
- n: Total Tenure in Months
- m: Month Number (1, 2, 3...n)
Key Differences Between Post Office RD and Bank RD
- Post Office RD: Comes with a fixed 5-year (60 months) tenure, backed 100% by the Government of India, offering 6.70% interest compounded quarterly.
- SBI RD & Bank RDs: Flexible tenures ranging from 6 months up to 10 years (120 months), with Senior Citizen bonus interest of 0.50% p.a.
Frequently Asked Questions (FAQ)
Can I close my Post Office RD prematurely?
Yes, Post Office RD can be closed after 3 years from the date of account opening by submitting a premature closure application at your branch.
Is RD interest taxable under Income Tax?
Yes, interest earned on RD is taxable under "Income from Other Sources". TDS of 10% applies if total annual interest across bank deposits exceeds ₹40,000 (₹50,000 for senior citizens).
What is the minimum monthly deposit for Post Office RD?
The minimum monthly deposit for Post Office RD is ₹100, and thereafter in multiples of ₹10. There is no maximum limit.
This tool was developed and verified by Hemant Parashar, B.Sc. Graduate and part-time blogger, to provide free, high-accuracy mathematical resources for educational use.