📘 About RD

A Recurring Deposit (RD) is a savings scheme where you invest a fixed amount monthly for a fixed period. Interest is compounded quarterly, and the final amount includes both principal and accrued interest.

📐 RD Formula

M = R × [(1 + i)ⁿ - 1] / [1 - (1 + i)^-1/3]
Where:

• R = Monthly deposit
• i = Rate/400
• n = Tenure in months

📌 Tax Info

Interest earned is taxable under “Income from Other Sources”. TDS is applicable if interest exceeds ₹40,000 (₹50,000 for seniors). Submit Form 15G/15H to avoid TDS if eligible.