- Maturity value
- ₹1,07,186
- Interest earned
- ₹7,186
- Monthly payout option
- ₹583
- Quarterly payout option
- ₹1,750
Deposit: ₹1,00,000 (93.3%)Interest: ₹7,186 (6.7%)
Before tax. Banks may round each quarter, so their figure can differ by a few rupees.
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Please note: this calculator is a free aid for working out numbers, not financial, tax or investment advice. It has not been prepared or checked by a chartered accountant or financial adviser, and results may be inaccurate for your situation. Check important decisions with a qualified professional.
How to use FD & RD Calculator
- Choose Fixed deposit for a one-time amount, or Recurring deposit for a fixed monthly instalment.
- Enter the amount, your bank's interest rate and the term in months.
- Read the maturity value and interest. For an FD you also see what a monthly or quarterly payout would pay instead.
How the interest is calculated
A cumulative FD reinvests its interest, usually every quarter: maturity = P × (1 + r ÷ 4)^(4 × years). A non-cumulative FD pays the interest out instead, so the deposit stays the same and you receive P × r ÷ 12 each month or P × r ÷ 4 each quarter.
An RD is a series of monthly deposits. Each instalment earns interest only for the months it stays in the account, compounded quarterly, so the first instalment earns the most and the last earns the least.
Worked example
₹2,00,000 in a 3-year FD at 7.25%, compounded quarterly, grows to about ₹2,48,109: ₹48,109 of interest.
₹5,000 a month in a 5-year RD at 6.5% means ₹3,00,000 deposited and a maturity value of about ₹3,54,954, so ₹54,954 of interest.
Frequently asked questions
Is FD interest taxable?
Yes. Interest is added to your income and taxed at your slab rate, and the bank may deduct TDS once interest crosses the yearly threshold. The figures here are before tax.
Do senior citizens get a higher rate?
Most banks add around 0.25% to 0.5% for senior citizens. Enter the rate your bank actually offers you.
What happens if I break an FD early?
Banks usually pay the rate for the period actually completed, minus a penalty, often 0.5% to 1%. Check your bank's terms.
Why does my bank show a slightly different figure?
Banks round interest each quarter and count days in slightly different ways. The difference is normally a few rupees.