Published on August 08, 2026 • Last updated August 09, 2026
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A Recurring Deposit (RD) is a special term deposit offered by banks which helps people with regular incomes to deposit a fixed amount every month into their RD account and earn interest at rates applicable to Fixed Deposits.
A Recurring Deposit (RD) is a structured term deposit account offered by banks that allows individuals with regular monthly income to save a fixed amount every month while earning guaranteed interest rates comparable to Fixed Deposits. It provides the disciplined recurring structure of a SIP combined with the zero-risk security of a bank deposit.
When you open an RD, you choose a fixed monthly deposit amount and a tenure ranging from 6 months to 10 years. Every month on a chosen date, the fixed amount is automatically debited from your savings account. Interest is calculated quarterly on each installment, allowing your monthly savings to grow safely over time.
Recurring Deposits are ideal for short-to-medium term goals such as saving for an annual vacation, insurance premiums, emergency funds, or festivals. They remove the temptation of overspending by automating your monthly savings habit right after payday.
Formula, worked example & FAQs for RD
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