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Calculate maturity amount on Recurring Deposits.
Indicative result. Final figures may differ based on specific facts.
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The exact formula, statutory references and edge-cases used to compute your result. Reviewed by CA Ankita Jainik Soni.
M = R × ((1+r)^n − 1) / (1 − (1+r)^(−1)), where R = monthly deposit, r = monthly rate, n = total months. This is the standard 'future value of annuity due' formula, slightly different from the SIP formula because RD assumes deposits at the start of each month.
Even though the headline rate is annualised, RDs compound quarterly at most Indian banks. The effective annual yield is marginally higher than the stated rate.
TDS is deducted at 10% on RD interest exceeding ₹40,000 (₹50,000 senior) in a financial year — typically deducted at the end of each quarter. Submit Form 15G / 15H at account opening to avoid TDS if eligible.
Banks allow premature RD closure with a penalty of 0.5–1% on the headline rate. Loan against RD is available up to 80–90% of the outstanding balance from the same bank.
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Last updated: 21 June 2026 · Last reviewed by CA Ankita Jainik Soni · Indicative results only