FD & RD Deposit Calculator
Estimate maturity for Fixed and Recurring Deposits with indicative rates from major Indian banks.
2y
Maturity value
₹1,14,888
Total invested
₹1,00,000
Interest earned
₹14,888
Quarterly compounding: M = P × (1 + r/4)^(4t)
Indian bank FD rates
Indicative published rates (1–3 yr tenure, deposits < ₹3 Cr). Verify with the bank before opening a deposit.
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Disclaimer: Rates are indicative and shown for reference only. Actual rates vary by tenure, deposit amount, and bank policy. Interest on FDs and RDs is taxable as per your income tax slab.
External references
Cross-check rates and lender details from these authoritative sources.
- RBI — Deposit rate statistics— official database
- RBI — Monthly bulletin (deposit rates)— bank-wise rates
- BankBazaar — FD interest rates— aggregator comparison
- Paisabazaar — FD rates— aggregator comparison
- India Post — Small savings schemes— government-notified rates
- DICGC — Deposit insurance (₹5 lakh)— know your deposit protection
FD & RD calculator FAQs
- What is the difference between FD and RD?
- A Fixed Deposit invests one lump sum for a fixed tenure, while a Recurring Deposit invests a fixed amount every month. FDs usually earn slightly more overall because the full amount compounds from day one.
- How is FD maturity calculated?
- FD maturity uses compound interest: A = P × (1 + r/n)^(n×t), where P is the deposit, r the annual rate, n the compounding frequency (quarterly for most Indian banks) and t the tenure in years.
- How is RD maturity calculated?
- Each monthly RD instalment earns compound interest for the months it stays invested, so maturity is the sum of every instalment compounded for its own remaining tenure — this calculator does that month by month.
- Is FD and RD interest taxable in India?
- Yes. Interest from FDs and RDs is added to your total income and taxed at your slab rate. Banks deduct TDS once interest crosses the threshold set by the Income Tax Act unless Form 15G/15H applies.
- Do senior citizens get higher FD rates?
- Most Indian banks offer senior citizens roughly 0.25%–0.75% extra on FDs and RDs. Add that premium to the reference rate before applying it in the calculator.