🏧 FD & RD Calculator

Work out what a fixed deposit or a recurring deposit will be worth at maturity, and see the effective annual yield behind the quoted rate.

Free Instant results No sign-up needed
FD Details
₹1,000₹1 Cr
₹1,00,000
1%15%
7.0 %
1 Yr30 Yr
5 Yr
Principal Interest earned
Principal
₹1,00,000
Interest earned
₹0
Maturity value
₹0
Effective annual yield
0%
What This Tool Does

Fixed deposit: Calculates maturity value and interest earned, with a choice of yearly, half-yearly, quarterly or monthly compounding.

Recurring deposit: Calculates maturity value for a fixed monthly deposit over a tenure set in months.

Effective yield: Shows the effective annual yield, which is what the stated rate actually works out to once compounding is applied.

Fixed Deposit and Recurring Deposit

A fixed deposit takes a single lump sum and holds it for an agreed term at an agreed rate. A recurring deposit instead takes a fixed amount from you every month and pays interest on the growing balance.

An FD suits money you already have and do not need for a while. An RD suits money you expect to save from monthly income. The two tabs on this page mirror that difference in the inputs they ask for.

How Each One is Calculated

For a fixed deposit the standard compound interest formula is used: the principal multiplied by (1 + rate divided by compounding frequency) raised to the power of frequency times years. Choosing quarterly compounding, the default, means interest is added to the balance four times a year and then earns interest itself.

For a recurring deposit each monthly instalment compounds for a different length of time, since the first deposit earns interest for the whole term and the last earns almost none. The calculator applies the recurring deposit maturity formula at a monthly rate of the annual rate divided by twelve, treating deposits as made at the start of each month.

Input Ranges

  • FD principal: ₹1,000 to ₹1 crore.
  • FD tenure: 1 to 30 years.
  • FD compounding: yearly, half-yearly, quarterly (default) or monthly.
  • RD monthly deposit: ₹500 to ₹1,00,000.
  • RD tenure: 6 to 360 months, in six-month steps.
  • Interest rate: 1% to 15% a year for both tabs.

Why Compounding Frequency Changes the Answer

Two deposits quoting the same annual rate can mature at different values if they compound differently. Monthly compounding adds interest to the balance twelve times a year, so that interest starts earning interest sooner than it would under annual compounding.

The effective annual yield shown alongside the result makes this visible. It is the rate you would need under simple annual compounding to reach the same outcome, which makes it the fairer number when comparing offers from different banks.

What This Calculator Does Not Include

  • TDS. Bank interest is taxable and banks deduct tax at source above threshold limits.
  • Penalties for breaking a deposit before maturity.
  • Missed RD instalments, which usually attract a small charge.
  • Any preferential rate for senior citizens or special schemes.
  • Bank-specific day count or rounding conventions.

Accuracy and Processing

All figures are computed in your browser and nothing is sent to a server. Because tax and bank-specific rules are excluded, the maturity value here is a gross estimate. Your actual credit after TDS will be lower.

FD & RD Calculator FAQ

What is the difference between an FD and an RD?

A fixed deposit takes a single lump sum and holds it for an agreed term. A recurring deposit takes a fixed amount from you every month and pays interest on the growing balance. An FD suits money you already have; an RD suits money you expect to save monthly.

How does compounding frequency change my maturity value?

More frequent compounding means interest is added to the balance sooner and then earns interest itself. Two deposits quoting the same annual rate can mature at different values if one compounds monthly and the other annually.

What is effective annual yield?

It is the rate you would need under simple annual compounding to reach the same maturity value. Because it normalises for compounding frequency, it is the fairer figure to use when comparing offers from different banks.

Is FD interest taxable?

Yes. Interest on bank deposits is taxable as income and banks deduct tax at source above threshold limits. This calculator shows the gross maturity value, so the amount actually credited to you will be lower.

What happens if I break my FD early?

Most banks apply a penalty, typically a reduction in the applicable interest rate. Premature withdrawal penalties are not modelled here, so an early exit will return less than the figure shown.

Does this include senior citizen rates?

Not automatically. If you qualify for a preferential rate, enter that higher rate directly to see the corresponding maturity value.

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