FD & RD Calculator (Fixed & Recurring Deposit)
Calculate fixed deposit and recurring deposit maturity value with compound interest.
Compounding Frequency
What Is the FD & RD Calculator (Fixed & Recurring Deposit)?
FD & RD Calculator (Fixed & Recurring Deposit) Formula
FD Maturity = P × (1 + r/n)^(n×t)
RD Maturity = R × [((1+i)ⁿ − 1) ÷ i] × (1+i), where i = r/12
How Is the FD & RD Calculator (Fixed & Recurring Deposit) Calculated?
An FD grows a single lump-sum deposit with compound interest at your chosen compounding frequency. An RD instead treats each monthly deposit as a small investment that compounds for the remaining months until maturity — the formula sums the future value of every monthly installment.
FD & RD Calculator (Fixed & Recurring Deposit) Example
A $100,000 FD at 7% for 5 years with quarterly compounding matures to about $141,478. A $5,000/month RD at 6.5% for 24 months matures to roughly $128,000, including about $8,000 in interest.
How to Use the FD & RD Calculator (Fixed & Recurring Deposit)
Step 1
Choose the Fixed Deposit or Recurring Deposit tab.
Step 2
For FD, enter the principal, interest rate, tenure, and compounding frequency.
Step 3
For RD, enter the monthly deposit amount, interest rate, and tenure in months.
Step 4
Review your maturity value and total interest earned.
Benefits
- Covers both common deposit types in one tool.
- Lets you adjust FD compounding frequency to match your bank's actual terms.
- Shows total invested vs. interest earned separately for RDs.
Common FD & RD Calculator (Fixed & Recurring Deposit) Scenarios
Scenario 1
Comparing FD offers from different banks with different compounding frequencies.
Scenario 2
Planning a recurring monthly saving habit toward a specific goal amount.
Scenario 3
Estimating post-tax returns before committing funds to a fixed deposit.
Understanding Your Result
The maturity value is the total amount you'll receive at the end of the tenure, including your principal (or total deposits) plus all compounded interest. Compare this against the effective annual return to judge whether a deposit beats inflation or other investment options.
Tips
- Most Indian banks compound FD interest quarterly by default — check your specific bank's terms.
- RD interest is usually compounded quarterly by the bank, though this calculator uses monthly compounding as a common simplification — actual bank maturity values may differ slightly.
- Remember that FD and RD interest is taxable as per your income tax slab, unlike some tax-saving instruments.
Common Mistakes
- Assuming FD interest is tax-free — it's fully taxable as per your income slab, with TDS often deducted at source.
- Comparing FDs with different compounding frequencies without adjusting for the difference.
- Forgetting that early withdrawal from an FD or missed RD installments usually incurs a penalty.
Frequently Asked Questions
What's the difference between FD and RD?
An FD is a one-time lump-sum deposit that earns compound interest until maturity, while an RD involves fixed monthly deposits that each earn interest for the remaining tenure.
Is FD or RD interest taxable?
Yes, interest from both FDs and RDs is fully taxable as per your income tax slab, and banks typically deduct TDS if interest exceeds the threshold set by tax rules.
Which compounding frequency is best for an FD?
More frequent compounding (e.g. monthly or quarterly) yields a slightly higher maturity value than annual compounding for the same nominal rate — check what your bank offers.
Which is better for a lumpsum amount — FD or RD?
FD suits a lumpsum you already have, since it locks in the full amount at once; RD suits building savings gradually from monthly income when you don't have a lump sum to deposit upfront.
Can I withdraw an FD or RD before maturity?
Most banks allow premature withdrawal, but typically apply a penalty that reduces the effective interest rate — check your specific bank's terms before committing.
Does the interest rate stay fixed for the full FD or RD term?
Yes, for both this calculator assumes a fixed rate for the full deposit term, which matches how most standard bank FDs and RDs work once booked.
What happens if I miss an RD monthly payment?
Most banks charge a small penalty for missed or delayed RD installments, and some may deduct it from the eventual maturity payout — check your bank's specific RD terms.
Are senior citizens offered a different FD/RD rate?
Many banks offer a higher rate (commonly 0.25-0.75% more) for senior citizens — enter your bank's actual senior citizen rate if that applies to you.
Is FD/RD interest better than a savings account?
Generally yes — FDs and RDs typically offer meaningfully higher interest rates than a regular savings account, in exchange for locking up the money for a fixed term.
Important Information
Actual bank maturity values may vary slightly based on exact compounding conventions used by your bank.
Last updated: July 26, 2026