Calculate the maturity value of your monthly RD, compounded quarterly as per standard Indian bank practice.
A Recurring Deposit lets you invest a fixed amount every month rather than a lump sum, with interest compounded quarterly like a standard FD. Because each monthly instalment is invested for a different length of time, the maturity calculation accounts for each instalment separately compounding until the RD's maturity date.
RDs are popular for disciplined monthly saving toward a specific short-to-medium term goal, since you commit to a fixed monthly amount rather than needing a lump sum upfront.
Most banks charge a small penalty (often ₹1-2 per ₹100 per month delayed) for missed RD instalments — check your specific bank's policy.
Yes — RD interest is taxed at your income slab rate, and TDS applies if total interest from a bank exceeds the same threshold as FDs (₹40,000, or ₹50,000 for senior citizens).
Yes, RD tenures typically range from 6 months to 10 years, depending on the bank.