₹ 0
₹ 0
₹ 0
Follow the step-by-step guide below to calculate your RD maturity amount and interest easily:
Our Post Office RD Calculator helps you estimate the total interest earned and the maturity amount based on your monthly deposits. It considers quarterly compounding, ensuring accuracy in calculations.
Maturity Amount = Monthly Investment × [(1 + (Rate of Return / 400)) ^ (Quarters) - 1] /
(1 - (1 + (Rate of Return / 400)) ^ (-1/3))
Interest Earned = Maturity Amount - Total Deposits
Suppose you deposit ₹10,000 every month in a Post Office RD, at an interest rate of 6.7% for 5 years.
Total Deposits = ₹10,000 × 12 × 5 = ₹6,00,000
Maturity Amount is calculated using the formula:
₹10,000 × [(1 + (6.7 / 400)) ^ (5 × 4) - 1] / (1 - (1 + (6.7 / 400)) ^ (-1/3)) =
₹7,13,658
Interest Earned is:
₹7,13,658 - ₹6,00,000 = ₹1,13,658
Our Post Office RD Calculator makes it easy to find out your maturity amount without doing any manual calculations. Unlike other RD calculators that might not have the latest interest rates, we always keep our Post Office RD Calculator updated automatically.
It's a savings scheme where you deposit a fixed amount every month for a period of 5 years. The Post Office pays you interest on your deposits, compounded quarterly.
From 01.01.2024, the interest rate is 6.7% per annum, compounded quarterly. This means your interest is calculated and added four times a year.
The interest is compounded quarterly, so every three months your earned interest is added to your deposit, helping to boost your overall returns.
You need to deposit at least INR 100 per month, or any amount in multiples of INR 10. There is no maximum limit on deposits.
An individual adult can open an account. Additionally, a joint account can be opened by up to 3 adults, or by a guardian on behalf of a minor or a person of unsound mind. Even a minor above 10 years can open an account in their own name.
You can open an account with cash or cheque (the deposit date for cheques is the clearance date). If you open your account up to the 15th of the month, your monthly deposit is due by the 15th. If opened between the 16th and the last working day, your deposit is due by the last working day of that month.
A default fee is charged for each month you miss a deposit – for a 100 rupee installment, a default of 1 rupee is applied (proportionate for other amounts). You must pay the missed installment along with the default fee before depositing the current month's installment. After 4 defaults, the account becomes discontinued, but it can be revived within two months. Alternatively, if there are fewer than four defaults, you may extend the maturity period to cover the missed installments.
Yes, you can make advance deposits for up to 5 years in the same account. If you deposit at least 6 installments in advance, you may receive a rebate (for example, Rs. 10 off for 6 months or Rs. 40 off for 12 months on a Rs. 100 denomination account).
Yes, once you have deposited at least 12 installments and the account has been active for 1 year, you can take a loan up to 50% of the balance in your account. The loan can be repaid in a lump sum or through monthly installments, and the applicable interest rate is 2% plus the RD interest rate.
The account can be closed prematurely only after 3 years from the date of opening. However, if you close the account even one day before maturity, the interest rate applicable will be that of a regular Post Office Savings Account instead of the RD rate. Additionally, if you've made advance deposits, premature closure is not permitted until that period is over.
The Post Office RD account matures after 5 years (which means you've made 60 monthly deposits). After maturity, you can extend the account for another 5 years if needed. The interest rate during the extension will be the same as when the account was originally opened. The account can also be kept open for up to 5 years after maturity without making further deposits.
In the event of the account holder's death, the nominee or legal heirs can claim the balance at the Post Office. They also have the option to continue the RD account until maturity by submitting the required application.
The default term for a Post Office Recurring Deposit is 5 years, but you can extend it for another 5 years after maturity. Our Post Office RD Calculator lets you calculate the interest for both 5-year and 10-year durations.