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Calculate the maturity amount and interest earned on your Post Office Recurring Deposit (National Savings Recurring Deposit Account).
Standard PO RD is 5 years. Can be extended up to 10 years.
Compounded quarterly
Maturity Amount
After 5 years
Total Investment
60 monthly deposits
Total Interest
Guaranteed returns
Your total investment of ₹3,00,000 will grow to ₹3,56,829 in 5 years.
Interest makes up 15.9% of the final maturity amount.
Tax Note: The interest earned of ₹56,829 is taxable as per your income tax slab.
| Year | Total Investment | Total Interest | Balance |
|---|---|---|---|
| Year 1 | ₹60,000 | ₹2,210 | ₹62,210 |
| Year 2 | ₹1,20,000 | ₹8,694 | ₹1,28,694 |
| Year 3 | ₹1,80,000 | ₹19,746 | ₹1,99,746 |
| Year 4 | ₹2,40,000 | ₹35,679 | ₹2,75,679 |
| Year 5 | ₹3,00,000 | ₹56,829 | ₹3,56,829 |
The National Savings Recurring Deposit Account (Post Office RD) is a popular savings scheme backed by the Government of India. It allows small investors to save a fixed amount every month for a tenure of 5 years, providing guaranteed returns and high security.
The interest on a Post Office RD is compounded quarterly. This means that every three months, the interest earned is added to your principal amount, and the next quarter's interest is calculated on this new, higher principal.
Formula used:
M = P × (1 + r/4)^(n/3)
Where M is Maturity, P is monthly deposit, r is annual interest rate, and n is the number of months remaining.
You can prematurely close a Post Office RD account after 3 years from the date of opening. However, if you close it prematurely, the interest payable will be the Post Office Savings Account interest rate (currently 4.0%), not the RD interest rate.
A Post Office Recurring Deposit (National Savings Recurring Deposit Account) is a government-backed savings scheme that allows you to save a fixed amount every month for a tenure of 5 years, earning a guaranteed interest rate.
The interest rate for Post Office RD is reviewed quarterly by the government. Currently, it offers an interest rate of 6.7% per annum, compounded quarterly.
The minimum amount for opening a Post Office RD is ₹100 per month, and any amount in multiples of ₹10 thereafter. There is no maximum limit on the investment amount.
The standard maturity period is 5 years (60 monthly deposits). However, you can extend the account for another 5 years after maturity, keeping the same interest rate at which the account was originally opened.
No, investments in Post Office RD do not qualify for tax deductions under Section 80C. The interest earned is also taxable as per your income tax slab. However, TDS is not deducted on the interest earned.