Recurring deposit maturity & interest earned
Banks in India compound recurring-deposit interest quarterly. Each monthly instalment earns interest for the months it stays deposited, so the first instalment earns the most and the last earns the least. This calculator applies quarterly compounding to every instalment separately and adds them up, which is the method most banks and the post office use.
Yes. RD interest is added to your income and taxed at your slab rate, and banks may deduct TDS when interest crosses the annual threshold.
Banks differ in rounding and in exactly how they count days in each quarter, so small differences of a few rupees are normal.
Most banks charge a small penalty per missed instalment, and repeated misses can lead to the RD being closed early.