FD / RD Calculator

Calculate maturity value and interest earned on Fixed Deposits and Recurring Deposits with compound interest.

Maturity value

Amount deposited
Interest earned

Where the maturity value comes from

is interest, not money you put in

You put in Interest
Effective yearly yield (quarterly compounding)

Uses quarterly compounding, the common practice for Indian bank and post-office FDs and RDs: the FD compounds every quarter, and each RD instalment (paid at the start of the month) compounds quarterly for the months it stays invested. Tenure is in whole years. Some banks compound or pay out differently, so check your bank's maturity figure. Interest is taxable at your income slab rate. Results are indicative only.

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What is an FD / RD Calculator?

An FD (Fixed Deposit) calculator estimates the maturity amount when you invest a lump sum at a fixed interest rate for a defined tenure. An RD (Recurring Deposit) calculator works similarly but for monthly investments. It works like a bank-based SIP: you deposit a fixed amount every month and earn compound interest on the growing balance.

Both FD and RD protect your capital and lock in a fixed rate, which suits goals 1–5 years away. The difference is the pattern: an FD needs a one-time lump sum, while an RD lets you save a little each month without equity market exposure.

You can keep part of an emergency fund in an FD, but breaking a deposit early usually costs you: banks pay a lower rate on premature withdrawal and may charge a penalty, so check your bank's terms. Bank deposits are insured by DICGC up to ₹5 lakh per depositor per bank, covering principal and interest together.

Worked example: ₹1 lakh FD vs ₹5,000 a month RD at SBI's 3-year rate

Illustrative: SBI's rate for a 3-year term deposit (3 to under 5 years) is 6.30% a year for the general public, effective 15 Dec 2025, as listed on sbi.bank.in on 5 Oct 2026. Put ₹1,00,000 in an FD, or ₹5,000 a month in an RD assumed to earn the same 6.30%, for 3 years.

Result Value
FD: amount invested₹1,00,000
FD: interest earned₹20,626
FD: maturity value₹1,20,626
RD: total deposited₹1,80,000
RD: interest earned₹18,500
RD: maturity value₹1,98,500

The FD earns more interest on less money because the whole ₹1 lakh compounds from day one, while each RD instalment is invested for less time. So the choice is simple: use an FD if you already have the lump sum, and an RD if you are saving it from your salary. Both amounts are before tax, and the interest is added to your income at your slab rate. If a large deposit has just come due, read FD matured? Where to put the money before you roll it over.

How to Use This FD / RD Calculator

  1. 1

    Select FD or RD mode

    Use the FD tab if you have a lump sum to invest. Switch to RD if you want to invest a fixed amount every month.

  2. 2

    Enter the deposit amount

    For FD, enter the total amount you're depositing. For RD, enter the monthly installment you can consistently invest.

  3. 3

    Set interest rate and tenure

    Check your bank's current FD/RD rates. Senior citizens usually get more: SBI pays them 6.80% for 3 to 5 years against 6.30% for everyone else (effective 15 Dec 2025). Longer tenures (3–5 years) often pay a little more than short ones, though not always.

  4. 4

    Review maturity and interest earned

    The calculator shows your total invested, interest earned, and maturity value. Remember that FD/RD interest is taxable at your slab rate. Banks and post offices deduct TDS under section 393(1) of the Income-tax Act, 2025 if your interest from them exceeds ₹50,000 in a financial year (₹1,00,000 for senior citizens). TDS is only an advance tax payment, not the final tax; if your total income is below the taxable limit, you can submit Form 15G (or 15H if you are a senior citizen) to avoid it.

FD vs RD: Which Should You Choose?

Feature Fixed Deposit (FD) Recurring Deposit (RD)
Investment TypeOne-time lump sumMonthly installments
Best forLump sums (bonus, savings)Regular monthly savers
ReturnsHigher (full amount compounds)Lower (deposits staggered)
Tax TreatmentInterest taxable (TDS applies)Interest taxable (TDS applies)

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Frequently asked questions

What is the difference between FD and RD?
A Fixed Deposit (FD) requires a one-time lump sum investment, while a Recurring Deposit (RD) lets you invest a fixed amount monthly. Both earn guaranteed interest, but FD typically offers slightly higher rates since the full principal earns interest from day one.

Are FD and RD returns taxable?
Yes. Interest earned on both FD and RD is fully taxable at your income tax slab rate. Banks and post offices deduct TDS under section 393(1) of the Income-tax Act, 2025 if your interest from them exceeds ₹50,000 in a financial year (₹1,00,000 for senior citizens). TDS is only an advance payment: you claim it against your final tax when filing your return, and if your total income is below the taxable limit you can submit Form 15G (Form 15H for senior citizens) to avoid it.

Which gives better returns — FD, RD, or debt mutual funds?
FD and RD offer guaranteed returns at the rate you lock in; check current bank rate cards, since FD rates move with the RBI repo rate (raised to 5.50% in October 2026). Debt mutual funds are not guaranteed, and for units bought on or after 1 April 2023 gains are taxed at your slab rate regardless of holding period, so they no longer have a long-term tax edge over FDs. Their advantages are liquidity and tax deferral (tax only when you redeem). FD/RD carry no market risk.

Can I break an FD before maturity?
Yes, most banks allow premature FD withdrawal with a penalty of 0.5–1% reduction in the applicable interest rate. Some banks offer no-penalty FDs at slightly lower rates. Tax-saver FDs (5-year) cannot be broken before maturity.