FD & RD Calculator
Maturity value for an FD or an RD, with the compounding option banks actually use and a TDS check.
- Principal
- ₹5,00,000.00
- Interest earned
- ₹2,07,389.10
- TDS if applicable
- ₹20,738.91
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| Deposit | ₹5,00,000.00 |
|---|---|
| Interest rate applied | 7% a year |
| Compounding | Quarterly (banks' default) |
| Tenure | 5 years |
| Interest earned | ₹2,07,389.10 |
| Maturity value | ₹7,07,389.10 |
- Indian banks compound fixed deposits quarterly by default. Changing the compounding changes the maturity, which is why two banks quoting 7% can pay slightly different amounts.
- Interest is taxed at your slab rate as income from other sources, and it is taxable every year as it accrues — not only when the deposit matures.
- A fixed rate is assumed for the whole tenure, and no premature-withdrawal penalty is modelled.
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About the fd & rd calculator
Banks quote a nominal annual rate, but the interest an FD actually earns depends on how often it compounds. Nearly every Indian bank compounds fixed deposits quarterly, which is why the effective annual yield on a 7% FD is closer to 7.19% than 7%.
A recurring deposit is a different shape: you deposit a fixed amount every month, each instalment earns interest only from the month it is paid in, and the last instalment earns almost nothing. The RD tab uses the standard quarterly-compounding method banks apply to each monthly instalment.
Over ₹40,000 of interest in a financial year triggers 10% TDS for most depositors, and the threshold is ₹50,000 for senior citizens and for everyone above ₹1 lakh of interest. The calculator flags it and shows the amount withheld, so a maturity figure does not surprise you at payout.
Frequently asked questions
How is FD interest calculated?
A = P × (1 + r/n)^(n×t), where P is the principal, r the annual rate, n the number of times interest compounds in a year and t the tenure in years. Indian banks use n = 4 for most fixed deposits, so interest compounds every quarter.
Why is my FD's effective return higher than the quoted rate?
Because of compounding. A 7% FD compounded quarterly earns 7% / 4 = 1.75% each quarter on a balance that already includes the previous quarters' interest, which works out to about 7.19% over a full year.
When is TDS deducted on FD interest?
Banks deduct 10% TDS once your interest from that bank crosses ₹40,000 in a financial year — ₹50,000 for senior citizens. The threshold applies to interest across all your deposits with the same bank, not per deposit. If your total income is below the taxable limit you can submit Form 15G or 15H to stop the deduction.
Is RD interest taxed the same way as FD interest?
Yes. Both are taxed as income from other sources at your slab rate, and both count towards the same TDS threshold per bank. The difference is only in how the interest accrues while the deposit runs.
Do senior citizens get a better rate?
Usually. Most banks add 0.25% to 0.75% to the advertised rate for depositors aged 60 and above, and senior citizens also get the higher ₹50,000 TDS threshold. Tick the senior citizen box to see the effect on the TDS check.
Disclaimer
These calculators are for estimates and general information only. They are not financial, investment, tax or legal advice, and they do not replace a chartered accountant, a financial adviser or the official rules. Rates, slabs and thresholds change — verify anything important against the source before acting on it.
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