RD Calculator 2026
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Calculate your Recurring Deposit maturity amount and total interest instantly. Compare SBI, HDFC, and Post Office rates. Updated June 2026. ✓ Updated June 2026
Current RD Interest Rates 2026
Major Indian Banks • March 2026 Update
| Bank Name | General Rate | Senior Rate | 2 Yr Maturity* |
|---|---|---|---|
| SBI | 6.50% | 7.00% | ₹1,28,475 |
| HDFC Bank | 7.00% | 7.50% | ₹1,29,500 |
| ICICI Bank | 7.00% | 7.50% | ₹1,29,500 |
| Axis Bank | 7.10% | 7.85% | ₹1,29,750 |
| Post Office (5 Yr) | 6.70% | 6.70% | ₹1,28,800 |
*Maturity calculated for ₹5,000/month for 2 years (24 months) using quarterly compounding. SBI and HDFC rates are subject to change.
What is an RD Calculator?
A Recurring Deposit (RD) Calculator is an essential financial tool designed to help individuals plan their monthly savings efficiently. Unlike Fixed Deposits (FD) that require a lump sum investment, an RD allows you to invest a fixed amount every month for a pre-determined tenure. Our RD calculator works by taking your monthly installment, interest rate, and duration to provide a precise maturity value in seconds.
What makes CalcBaba's RD calculator unique is its quarterly compounding logic—which is the standard method used by almost every Indian bank. While many calculators use simple interest to give a rough estimate, our tool uses the bank-mandated mathematical formula to ensure the result you see matches your actual bank statement.
RD Interest Formula — How Banks Calculate
The maturity amount for a Recurring Deposit in India is calculated using the following compound interest formula:
M = R × [(1+i)ⁿ - 1] / [1 - (1+i)^(-1/3)]
Note: Most banks compound interest quarterly (n = months/3). The quarterly rate (i) is calculated as Annual Rate / 400.
Current RD Interest Rates 2026
Interest rates for 2026 reflect the RBI's current monetary policy. Major public and private sector banks are offering competitive rates for Recurring Deposits.
- SBI RD Rates: Ranges between 6.50% to 7.00% for tenures of 1–5 years. Senior citizens enjoy a special rate of 7.50% for 2-year tenures.
- HDFC & ICICI RD Rates: Provide a stable 7.00% p.a. for general citizens. These are popular for their digital ease of opening accounts.
- Post Office RD: Fixed at 6.70% p.a. for a 5-year tenure. This is a 100% safe, government-backed scheme ideal for rural and conservative investors.
TDS on RD Interest
Previously, RDs did not attract TDS, but that changed in 2015. Under Section 194A, banks are mandated to deduct TDS on Recurring Deposit interest if:
The threshold for general public is ₹40,000 per financial year.
For senior citizens (60+), this limit is ₹50,000. If your interest crosses these limits, a 10% TDS (20% without PAN) is applied by the bank before crediting maturity.
RD vs FD — Which Option to Pick?
The choice between a Recurring Deposit and a Fixed Deposit usually boils down to your cash flow:
Fixed Deposit (FD)
Best for lump sum amounts. Higher interest earned because the entire principal compounds from day one. Ideal for inheritance or bonus payouts.
Recurring Deposit (RD)
Best for salaried individuals. It fosters a habit of monthly discipline. Since you invest in chunks, the total interest is less than FD but entry barrier is much lower.
RD in Hindi — आरडी कैलकुलेटर
आरडी (Recurring Deposit) क्या है और इसकी गणना कैसे करें?
आरडी कैलकुलेटर एक डिजिटल टूल है जो आपकी मासिक बचत पर मिलने वाले ब्याज की गणना करता है। यदि आप हर महीने ₹5,000 की बचत 2 साल के लिए 7% ब्याज दर पर करते हैं, तो अंत में आपको ₹1,28,475 मिलेंगे। बैंक आमतौर पर तिमाही आधार पर (Quarterly Compounding) ब्याज जोड़ते हैं। वरिष्ठ नागरिकों को अक्सर 0.50% अतिरिक्त ब्याज मिलता है। यदि आपका साल भर का कुल ब्याज ₹40,000 से अधिक है, तो उस पर TDS लागू होता है।Recurring Deposits: Compounding & Rules
A Recurring Deposit (RD) is a structured savings scheme that allows you to deposit a fixed amount monthly over a set tenure (from 6 months to 10 years). It offers guaranteed returns similar to Fixed Deposits, making it ideal for individuals who want to build a savings habit without having a large lumpsum amount upfront.
Step-by-Step Example Calculation
Let's calculate the maturity value of a monthly RD of ₹5,000 at an interest rate of 6.8% p.a. (compounded quarterly) for a tenure of 3 years (36 months):
- Monthly Installment (R): ₹5,000
- Annual Rate (r): 6.8 / 100 = 0.068
- Maturity Value: Approximately ₹1,99,742
- Total Invested: ₹1,80,000
- Interest Earned: ₹19,742
Interest earned on RDs is fully taxable and subject to TDS under the same guidelines as Fixed Deposits.
Calculate RD Maturity for Common Amounts
Click any scenario to see the detailed returns and growth chart.