Invested: ₹60,000
Interest: ₹8,500
Maturity Amount: ₹68,500
| Year | Invested Amount (₹) | Interest Earned (₹) | Total Amount (₹) |
|---|
A Recurring Deposit (RD) is a disciplined and flexible savings option where you invest a fixed amount every month and earn interest on it. It's perfect for individuals who want to build a lump sum over time without committing to a large one-time deposit.
✅ Accurate Maturity Estimates: Know exactly how much you'll receive at the end of your RD tenure.
✅ Monthly Contribution Planning: See how even small amounts can grow into big savings.
✅ Interest Breakdown: Understand how interest is added each month to grow your savings smartly.
✅ Plan Across Banks: Compare RDs with different interest rates and durations.
📅 Start Early: The earlier you begin, the more you'll benefit from compounding.
📈 Choose Higher Interest Tenures: Longer durations usually offer better rates.
🔁 Automate Deposits: Set up auto-debits to avoid missing any monthly payments.
💡 Use for Short- to Mid-Term Goals: RDs are great for saving for school fees, gadgets, vacations, or emergencies.
🧮 RD interest is taxable — the bank may deduct TDS if interest exceeds ₹40,000 in a financial year (₹50,000 for seniors).
🛡️ Your RD amount is insured up to ₹5 lakh by DICGC (Deposit Insurance and Credit Guarantee Corporation).
💡 Some banks offer flexi-RDs where you can change monthly amounts as per your cash flow.
📈 Start Growing Your Wealth Monthly
Use the RD calculator regularly to stay on track with your savings goals. Bookmark this tool and revisit anytime your goals or income change!