Recurring Deposit (RD) Calculator
Recurring Deposit (RD) account is a kind of term deposit offered by banks in India. People with regular incomes can deposit a fixed amount every month (or in any other frequency like weekly or quarterly) into their RD account and earn interest at the rate applicable to Fixed Deposits. Itâ€™s like making FDs of a certain amount at regular intervals. For example, one can deposit Rs 1,000 every month into their RD account. This deposit matures on a specific date in the future along with all the deposits made every month. Talk to your bank regarding opening an RD account. An RD is again not as tax-efficient as a mutual fund SIP.