Note: The variable RD calculator gives the total post-tax interest. I have assumed that only the variable payments are subject to a penalty. That is if a variable payment is not made before a certain date (reader Srinivas says it is 10th in his case) then interest on the variable payment for that month will not be paid.
There was an issue with interest calculation for each FY when the monthly payments become variable. So I had to remove the original download link. I am trying to resolve this.
For normal RD where the monthly payments are fixed you could use this Recurring deposit calculator published earlier. This gives the tax liability each FY for different types of compounding (annual, half-yearly, quarterly and monthly).
(total tax liability for multiple installments per month: fixed + variable)
- Note: the above calculator assumes you make a fixed payment on the same day each month and variable investment (zero to anything subject to a max. defined by bank) on any day of the month (ie. two investments each month)
- If your bank will permit only one investment each month then use this:
(total tax liability for single variable installment per month)