Calculate your Recurring Deposit maturity amount. Uses quarterly compounding as per Indian bank standards — applicable for all bank and post office RDs.
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Calculate RD Returns
That’s ₹750 more than the lowest-yielding bank. Pick wisely.
| Bank | 1Y Rate | 5Y Rate | Your Maturityin 2 yrs | Senior Bonus | |
|---|---|---|---|---|---|
AU AU Small Finance Bank BESTBest SFB RD rate | 7.10% | 6.75% | ₹1.29 L | +0.5% | Open RD |
KMB Kotak Mahindra BankHighest RD rate | 7.10% | 6.20% | ₹1.29 L | +0.5% | Open RD |
IND IndusInd BankAuto-debit RD setup | 6.75% | 6.65% | ₹1.28 L | +0.5% | Open RD |
ICI ICICI Bank | 6.55% | 6.45% | ₹1.28 L | +0.5% | Open RD |
IDF IDFC First BankBest 5yr rate | 6.50% | 7.15% | ₹1.28 L | +0.5% | Open RD |
Rates are indicative for general public. Add 0.5% for senior citizens. Subject to change. Affiliate links — we may earn a commission at no cost to you.
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General public rates. Senior citizens typically get 0.25–0.5% extra. Verify on the bank's website before opening.
| Bank | 1 Year | 2 Years | 3 Years | Min/month |
|---|---|---|---|---|
| Post Office RD | — | — | 6.7% | ₹100 |
| SBI | 6.8% | 7.0% | 6.75% | ₹100 |
| HDFC Bank | 7.1% | 7.25% | 7.0% | ₹1,000 |
| ICICI Bank | 7.0% | 7.2% | 6.9% | ₹500 |
| Axis Bank | 7.2% | 7.5% | 7.0% | ₹500 |
| AU Small Finance Bank | 7.75% | 8.0% | 7.5% | ₹500 |
| Ujjivan SFB | 8.0% | 8.25% | 8.0% | ₹500 |
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Each monthly installment is compounded quarterly for the remaining period. RD uses the formula: M = R × [(1+r)^n − 1] / (1 − (1+r)^(-1/3)), where r = quarterly rate, n = quarters.
RD offers guaranteed, fixed returns (no market risk) while SIP in equity can give much higher returns over the long term but with market risk. For short-term goals (1–3 years), RD is safer.
Yes. Post Office RD has a 5-year term and currently offers 6.7% interest. It's eligible for Section 80C deduction and has government backing, making it very safe.
Both invest a fixed monthly amount but RD gives guaranteed returns of typically 6-7% while SIP in equity funds has historically returned 12-15% over 10+ years. RD is suitable for 1-3 year goals requiring capital protection. SIP is better for 5+ year goals where market volatility can be absorbed for higher long-term growth.
RD interest uses compound interest with quarterly compounding: each monthly instalment grows at (1 + R/4)^(4t), where R is the annual rate and t is remaining tenure in years. Banks compound quarterly, which results in a maturity amount slightly higher than simple interest calculation would suggest.
Yes. Most banks allow premature RD closure with a penalty of 1-2% off the prevailing interest rate for the actual period held. Post office RD can be prematurely closed after 3 years with reduced interest. If you need liquidity, consider taking an overdraft against your RD at 1-2% above the RD rate instead of breaking it.
Post Office RD currently offers 6.7% per annum with quarterly compounding for a 5-year tenure. It is backed by the Government of India (sovereign guarantee), making it the safest RD option. Compared to bank RDs, India Post offers competitive rates and is particularly accessible for investors in smaller towns and rural areas.
RD and FD at the same rate will differ in maturity amount because FD invests the full amount on day one while RD invests monthly. Example: Rs 10,000/month RD vs Rs 1.2 lakh FD both at 7% for 1 year — the FD earns more because all principal is invested for the full period. Use RD when you can only commit a monthly amount; use FD when you have a lump sum. For the same interest rate, FD gives about 50% more absolute interest since capital is deployed earlier.
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