Calculate Maturity for Recurring Deposits
Build a corpus with small savings
Encourages a disciplined saving habit by deducting a fixed amount monthly.
Interest rates are locked in at the time of opening the account, protecting against rate drops.
Perfect for planning short-term goals like a vacation, buying gadgets, or paying insurance premiums.
RDs are as safe as FDs and are backed by the Deposit Insurance and Credit Guarantee Corporation.
You can start with a very small amount (as low as ₹500/month) unlike FDs which require a lump sum.
You can avail a loan against your RD deposit, typically up to 90% of the deposit value.
A Recurring Deposit (RD) is a special kind of term deposit offered by banks which helps people with regular incomes to deposit a fixed amount every month into their RD account and earn interest at the rate applicable to Fixed Deposits.
Monthly deposits
Fixed interest rate
6 months to 10 years
Common queries about Recurring Deposits
Yes, RD interest is taxable. TDS is deducted by the bank at 10% if the interest exceeds ₹40,000 in a financial year (₹50,000 for senior citizens). You can submit Form 15G/15H to avoid TDS if your total income is below the taxable limit.