Recurring Deposit Calculator

All Banks RD Rates

(* Last Updated on Oct-2019)
Bank Interest Rate Senior Citizen Rates
SBI Recurring Deposit 6.25% - 6.40% 6.75% - 6.90%
HDFC Bank Recurring Deposit 6.25% - 7.40% 6.75% - 7.90%
ICICI Bank Recurring Deposit 6.25% - 7.50% 6.75% - 8.00%
Axis Bank 7.00% - 7.60% 7.35% - 8.25%
Kotak Bank 6.50% - 7.30% 7.00% - 7.80%
IDFC First Bank 6.75% - 7.25% 7.25% - 7.75%
Bank of Baroda 5.75% - 6.85% 6.25% - 7.35%
Citibank 6.00% - 7.50% 6.50% - 8.00%
IDBI Bank 6.00% - 7.05% 6.50% - 7.55%
Indian Bank 6.00% - 6.75% 6.50% - 7.25%
Indian Overseas Bank 5.75% - 6.80% 6.25% - 7.30%
PNB 6.25% - 6.75% 6.75% - 7.25%
Allahabad Bank 6.50% - 6.75% 0.00% - 0.00%
Andhra Bank 6.26% - 6.80% 6.76% - 7.30%
Bank of India 6.25% - 6.70% 6.75% - 7.20%
Bank of Maharashtra 6.00% - 6.60% 6.50% - 7.10%
Canara Bank 6.20% - 7.00% 6.70% - 7.50%
Central Bank of India 6.20% - 7.00% 6.70% - 7.50%
Punjab and Sind Bank 6.25% - 7.00% 6.75% - 7.50%
UCO Bank 6.70% - 6.75% 0.00% - 0.00%
Union Bank of India 6.50% - 6.85% 7.00% - 7.35%
Lakshmi Vilas Bank 6.50% - 8.00% 7.00% - 8.60%
Yes Bank 7.00% - 7.25% 7.50% - 7.75%
Syndicate Bank 6.50% - 6.80% 7.00% - 7.30%
South Indian Bank 6.50% - 7.60% 7.00% - 8.10%
Bandhan Bank 6.40% - 7.55% 7.15% - 8.30%
RBL Bank 7.15% - 8.05% 7.65% - 8.55%
Corporation Bank 6.50% - 6.80% 7.00% - 7.30%
Karur Vysya Bank 6.75% - 7.00% 6.75% - 7.50%
IndusInd Bank 7.25% - 8.00% 7.75% - 8.50%
DHFL 8.00% - 8.00% 8.40% - 8.40%
DBS Bank 5.75% - 7.50% 5.75% - 7.50%

What is Recurring Deposit?

Recurring Deposit is an investment which is offered by banks and other financial institutions. In Recurring Deposite you have to pay particular amount for every month at decided rate of interest for particular time duration. It is also called as RD calculartor.

How our recurring deposit calculator works?

Input Description
Amount Invested It is the investment that you want to do on recurring deposit for every month till the end of your investment years
Expected Interest Rate This is the percentage return per year at which you want to invest your amount for decided time duration
Frequency Type It is the compounding frequency of times per year the total interest is paid
Time Duration It can be number of years, number of months or number of days depending upon the frequency type
Output Description
Amount Invested This is your total investment till the end of your investing years
Interest Earned This is the interest you will have by the end of investment years
Total Amount This is the total amount you will receive which is sum of your total amount invested and the interest you will earn

How does RD work ?

Unlinke FD investment, in RD deposite you can start investing with small amount for a pre-decided time duration at fixed rate of return (pre-decided). In RD deposite the rate of interest in fix which have already decided when investing for the first time.

What is the Formula to calculate Interest on Recurring Deposit?

Here is the formula of Recuuring Deposit:

A = P(1 + r/n) ^ nt

where,
A = Maturity Amount
p = Monthly Deposit
r = Annual Rate of Interest
n = Compounding Frequency

What are the benefits of RD?

  • You can invest monthly.
  • Usefull for achieving financial goals.
  • Get guaranteed returns.
  • Anytime withdrawal possible.
  • Suitable for all types of investors.
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