What is the FD & RD Calculator?
A fixed deposit (FD) locks a lump sum with a bank, post office or NBFC for a fixed time at a fixed rate. A recurring deposit (RD) lets you deposit a fixed amount every month instead. Both pay a guaranteed rate, so you know the maturity amount on day one.
Indian banks usually compound FD and RD interest every quarter, which this calculator uses by default. You can also choose monthly, half-yearly or yearly compounding, or simple interest for FDs that pay interest out instead of reinvesting it.
How to use it
- Choose FD or RD.
- Enter the deposit amount (or the monthly instalment for an RD) and the yearly interest rate.
- Set the tenure, and for an FD how often interest is compounded.
- Read the maturity amount, the interest earned and the maturity date.
Example
RD of ₹5,000 a month for 5 years at 6.7% (compounded quarterly)
Deposited ₹3,00,000 · Interest ₹56,829 · Maturity ₹3,56,829
This matches the Post Office 5-year RD, whose published maturity value for ₹5,000 a month is ₹3,56,830.
Features
- FD and RD. Fixed and recurring deposits in one calculator.
- Bank-style compounding. Quarterly by default, with monthly, half-yearly, yearly or simple interest options.
- Exact tenure. Enter years, months and days; the maturity date is worked out on the calendar.
- Effective yield. See the effective yearly return after compounding, to compare offers fairly.
- Growth table. Balance and interest for each year of the deposit.
- Lakh and crore. Amounts are shown in Indian digit grouping, with lakh and crore hints.
Frequently asked questions
How is FD maturity calculated?
Maturity = P × (1 + r ÷ n)^(n × t), where P is the deposit, r is the yearly rate ÷ 100, n is how many times a year interest compounds (4 for quarterly) and t is the tenure in years. ₹1,00,000 at 7% for one year, compounded quarterly, becomes ₹1,07,186.
How is RD maturity calculated?
Each monthly instalment earns compound interest for the months it stays in the deposit. With quarterly compounding, an instalment kept for m months grows by (1 + r ÷ 400)^(m ÷ 3). The maturity amount is the sum for all instalments.
Is FD interest taxable?
Yes. FD and RD interest is added to your income and taxed at your slab rate. Banks deduct TDS when interest in a year crosses the limit (₹50,000, or ₹1,00,000 for senior citizens, from April 2025) unless you submit Form 15G or 15H where eligible.
What is the difference between cumulative and payout FDs?
In a cumulative FD, interest is reinvested and paid at maturity, so it compounds. In a payout FD, interest is paid out monthly or quarterly, so you earn simple interest on the deposit. Choose Simple interest here for a payout FD.
Do senior citizens get a higher rate?
Most banks pay senior citizens 0.25% to 0.75% more. Enter the rate that applies to you; check the bank’s current rate card for your tenure.
Last updated · Free, no sign-up, runs in your browser.