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FD & RD Calculator

FD and RD maturity worked out the way banks do it, with monthly or quarterly payout, senior citizen rate, TDS and tax.

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₹

₹1,00,000 · 1 lakh

%

Use the rate from your bank for this exact tenure.

Tenure
Interest
Maturity amount₹1,41,478after 5 years
29%interest
Deposit₹1,00,000
Total interest₹41,478
Effective yearly yield7.19%

Interest of about ₹8,296 a year is under the ₹50,000 TDS limit, so no TDS from this deposit alone. The limit counts all your deposits at the same bank. If your total income is below the taxable limit, submit Form 15G (15H if 60+) to avoid TDS.

Year-by-year growth
After yearValueInterest so far
1₹1,07,186₹7,186
2₹1,14,888₹14,888
3₹1,23,144₹23,144
4₹1,31,993₹31,993
5₹1,41,478₹41,478

Quarterly compounding as used by most Indian banks; your bank's figure may differ by a few rupees. TDS rules checked 3 October 2026.

This is an estimate based on standard financial formulas and the numbers you enter — it doesn’t account for every fee, tax rule, or lender-specific term, and isn’t a substitute for advice from a qualified financial professional. Read the full disclaimer.

FD and RD Maturity, Worked Out the Way Banks Do It

Enter your deposit, rate and tenure to get the maturity amount and interest, using the same method Indian banks use: quarterly compounding, simple interest for FDs under six months and for any part-quarter at the end, and the IBA formula for recurring deposits. You can also see monthly or quarterly payouts, add the senior citizen rate, find the date your deposit matures, and check whether TDS will be deducted and how much interest you keep after tax.

How to Use This Calculator

  1. 1Choose FD or RDFD for a one-time deposit, RD for a fixed amount every month.
  2. 2Enter the amount, rate and tenureUse the rate your bank quotes for that exact tenure. FD tenure can be in years, months and days, such as 1 year 5 months 10 days or 444 days.
  3. 3Pick how the FD pays interest"At maturity" adds interest to the deposit (cumulative FD). "Every quarter" or "Every month" pays it out to your account as income.
  4. 4Tick senior citizen if it appliesMost banks add about 0.50% for depositors aged 60 and above; change the extra rate to match your bank.
  5. 5Check TDS and taxSee whether the bank will deduct TDS and, if you choose your tax slab, how much interest you keep after tax.

FD vs RD — Which One Are You Actually Calculating?

  1. 1FD — for a lump sum you already haveYou deposit a fixed amount once, and it grows through compound interest until maturity, without any additional deposits needed along the way.
  2. 2RD — for building up savings over timeYou commit to depositing a fixed amount every month, and each deposit earns interest from the month it is made. It suits building towards a goal without needing a lump sum upfront.
  3. 3Both conventionally compound quarterly in IndiaMost Indian banks compound FD and RD interest every quarter, and this calculator follows that. Each RD instalment earns interest only for the time it actually stays in the account.

The Formulas

FD: Maturity = P × (1 + r/4)⁴ᵗ
P — principal deposited
r — annual interest rate (as a decimal)
t — tenure in years, with quarterly compounding; part-quarters earn simple interest

FD example: ₹1,00,000 at 7% for 5 years → maturity ≈ ₹1,41,478 (₹41,478 gained).

RD (IBA method): Maturity = Σ R × (1 + r/4)^(months left ÷ 3), adding up each monthly instalment R for the time it stays deposited. Example: ₹5,000/month at 7% for 5 years → maturity ₹3,59,664 on ₹3,00,000 deposited (₹59,664 interest).

Frequently Asked Questions

How is FD maturity calculated?

Banks compound FD interest every quarter: Maturity = P × (1 + r/4)ⁿ, where n is the number of full quarters. Any months or days left over after the last full quarter earn simple interest. FDs shorter than 6 months earn only simple interest. For example, ₹1,00,000 at 7% for 5 years matures at ₹1,41,478.

How is RD maturity calculated?

With the IBA method that banks use: each monthly instalment compounds quarterly for the time it stays in the account, and the results are added up. ₹5,000 a month at 7% for 5 years gives ₹3,59,664 on ₹3,00,000 deposited.

How much do I get every month from an FD?

Choose "Every month" under Interest. Banks pay monthly interest at a slightly discounted rate, so it is a little less than a third of the quarterly payout. For example, ₹10 lakh at 7% pays about ₹5,799 a month, or ₹17,500 a quarter.

When does the bank deduct TDS on FD interest?

From 1 April 2025, banks deduct TDS once the interest they pay you in a financial year crosses ₹50,000, or ₹1,00,000 if you are 60 or older. The limit counts all your deposits at that bank. TDS is 10% with PAN and 20% without. If your total income is below the taxable limit, you can submit Form 15G (or 15H for senior citizens) to the bank.

Is FD interest taxable?

Yes. FD and RD interest is added to your income and taxed at your slab rate, whether or not TDS was deducted. Pick your slab in the calculator to see the interest left after tax (including 4% cess). TDS already deducted counts towards that tax.

What is the effective yield?

Because interest compounds every quarter, a 7% FD actually grows by about 7.19% a year. The effective yield lets you compare an FD with options that compound differently.

Do senior citizens get a higher FD rate?

Most banks pay senior citizens (60+) an extra 0.25% to 0.75%, commonly 0.50%. Tick "Senior citizen" and enter your bank's extra rate; it also switches the TDS limit to ₹1,00,000.

Is this FD/RD calculator free?

Yes. It is free with no sign-up, and the calculation runs in your browser.