Post Office RD Calculator - Post Office Recurring Deposit Calculator Online 2023

Post Office Recurring Deposit Calculator

Post office recurring deposits (RDs) are a popular savings scheme offered by India Post that provides fixed returns along with capital safety. 

To help investors plan their RDs, we ( provide an online RD calculator on our website. This calculator allows investors to estimate the maturity amount on recurring deposits based on monthly investment amount, tenure, and applicable interest rate. 

The online post office RD calculator is a useful tool for quickly calculating returns at different investment levels and tenures. It helps simplify RD investment planning by giving instant results instead of needing complex manual calculations. With its easy inputs and fast computation, the calculator enables investors to optimize their recurring deposit investments.

Post Office's Recurring Deposit Interest Rate 2023 

Besides extending mail services, post offices offer several financial services to their customers in the form of savings schemes and life insurance. Typically, a post office RD is among the most popular savings alternatives to traditional fixed deposits and other long-term schemes offered by post offices.

Post office Recurring Deposits have become the most preferred instruments when compared to banks. One of the reasons behind its popularity is the attractive interest rate one can earn on it and a great profit upon maturity.

The post office RD interest rates are revised in a proper interval and the current interest rate for the quarter July-August-September 2023 is 6.5% p.a. The interest is compounded quarterly which enables the money deposited to multiply till the maturity time.

How Does a Post Office RD Calculator Work?

The post office RD calculator is very simple and easy to use. To start, you visit the Post Office RD Calculator on and enter three key inputs - the monthly deposit amount, desired tenure, and current interest rate. 

The minimum monthly deposit is ₹100 and you can choose a tenure between 1 to 5 years. The latest interest rate is 6.5%. Once you enter these three inputs, you simply click on Calculate. 

The calculator then instantly computes the estimated maturity amount based on the inputs. It does this by using the recurring deposit formula to determine the future value after compounding the monthly deposits at the entered interest rate for the tenure period. The maturity amount is displayed on the results page within seconds. The calculator does all the complex interest calculations and compounding in the background to provide an instant estimate of returns.

How is Interest Calculated on Post Office RD?

Post Office RD offers quarterly compounding of interest. The current applicable interest rate is 6.5% per annum. Here is how interest calculation works:

  • Every quarter ending March, June, September, and December, interest is calculated on the account balance.
  • The annual interest rate is divided by 4 to arrive at a quarterly rate.
  • At 6.5% annual rate, the quarterly rate is 6.5/4 = 1.625%.
  • Each quarter, the 1.625% quarterly interest is applied to the balance and added to the principal.
  • Quarterly compounding ensures interest on interest, leading to higher maturity value.

Formula For Calculating Post Office RD Maturity Amount

M = R x {(1 + n) x n – 1} / 1- (1 + i) (-1/3)


M = Maturity Amount
R = Amount Deposit Per Month
N = Number of Quarters in the tenure
I = Rate of interest divided by 400 (for 4 quarters in a year)

For better understanding let's take an example

Manish opened Post Office RD with a ₹5,000 monthly deposit for 5 years at a 6.5% interest rate.

Monthly Deposit (R) = ₹5,000
Tenure (n) = 10 years = 40 Quarters
Interest Rate (i) = 6.5% = 0.01625 (6.5/400 for quarterly rate)

Putting these values into the above formula:

M = 5,000 x {(1 + 40) x 40 - 1 } / 1 - (1 + 0.01625)(-1/3)

Therefore, the maturity amount on Manish's RD is ₹8,44,940.

This calculation can be instantly done using the online Post Office RD calculator.

Key Benefits of Using RD Calculator

Main advantages of the Post Office RD calculator:
  • Fast computation instead of complex manual calculation
  • Accuracy by avoiding errors in manual math
  • Planning by testing different deposit amounts and tenures
  • Free online access available 24x7

Eligibility for Opening Post Office RD Account

Individuals who want to open an RD account in the Post Office must meet these criteria:
  1. Indian Nationals who are over the age of 18 years.
  2. Minors who are over the age of 10 years.
  3. Parents or guardians who wish to open and operate the account of a minor on their behalf.
  4. Indian nationals above the age of 18 years would be deemed eligible to operate an RD account in the Post Office either singly or jointly.

Documents Required to Open an RD Account

  1. A post office account-opening form
  2. Two photographs (passport size)
  3. Address and identity proof such as Aadhaar, passport, PAN card, or declaration in Form 60 or 61 as per the Income Tax Act, 1961, driver's license, voter’s identity card, or ration card.
  4. Identity proof for verification purposes at the time of opening the account
  5. Select a nominee and the signature of a witness to complete the formalities

Tax benefits on Recurring Deposit / RD investments

An RD account in the post office falls under the tax exemptions umbrella as per Section 80C. Individuals can claim up to Rs. 1.5 Lakh as per annum tax exemption under this section.

However, the interest generated through the post office RD scheme is liable for taxation. Individuals need to pay a tax amount as per their income tax slab. Additionally, an interest that exceeds Rs. 10,000 would be liable for a TDS deduction.

Individuals who have an active PAN would pay TDS at the rate of 10%, while those without one would pay the same but at the rate of 20%.




The Post Office RD calculator is a very useful online tool for determining maturity amounts on recurring deposits. Investors should use it for planning their RD investments in an optimal manner. It helps in the quick calculation of returns at varying monthly deposits and tenures. The calculator simplifies RD investment planning.

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