Calculate maturity amount on Fixed Deposits and Recurring Deposits. See how maturity changes at different interest rates.
Enter your FD details
Enter your FD details to see maturity amount
Interest breakdown and rate sensitivity will appear here
Principal
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Interest earned
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Effective yield
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TDS reminder: For bank, co-operative bank and post-office time deposits, the TDS threshold is ₹50,000 for most residents and ₹1,00,000 for resident senior citizens. Where TDS applies, the rate for resident interest income is 10%. Eligible taxpayers may submit Form 15G or 15H where the applicable conditions are met.
Rate sensitivity
How your maturity changes at nearby interest rates.
Green values show what you gain at a higher rate. Red values show what you lose at a lower rate.
Enter your RD details
Increase your monthly deposit once a year, by a fixed percentage (5–25%) or a fixed amount.
Enter your RD details to see maturity amount
Maturity breakdown and rate sensitivity will appear here
Total deposited
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Interest earned
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Return on Deposit
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TDS reminder: RD interest is taxable as per your slab. For bank, co-operative bank and post-office time deposits, the TDS threshold is ₹50,000 for most residents and ₹1,00,000 for resident senior citizens. Where TDS applies, the rate for resident interest income is 10%.
Rate sensitivity
How your maturity changes at nearby interest rates.
Green values show what you gain at a higher rate. Red values show what you lose at a lower rate.
Learn
Everyone talks about equity and mutual funds. But for a large part of India, a bank FD or RD is the only investment they will ever make. That is not ignorance. It is a rational choice when capital preservation matters more than growth, when you cannot afford to lose, or when you simply need to park money for a specific near-term goal.
When you open a Fixed Deposit, you give the bank a lump sum for a fixed period. The bank pays you interest at a predetermined rate, compounded at a set frequency. Most Indian banks compound quarterly by default, meaning your interest is added to the principal every three months and the next quarter earns interest on the larger amount.
The formula is: Maturity = P x (1 + r/n)^(n x t), where P is your principal, r is the annual interest rate as a decimal, n is the number of compounding periods per year (4 for quarterly), and t is the tenure in years. A 7% FD compounded quarterly is not the same as 7% simple interest. The effective annual yield is slightly higher because of quarterly compounding.
In a Recurring Deposit, you do not put in all your money on day one. Each month's installment earns interest only from the date it is deposited. Your first installment earns interest for the full tenure. Your last installment earns interest for just one month.
This is why, for the same amount of money and the same rate, an RD always matures to less than an FD. If you have ₹60,000 to invest today, putting it all in an FD earns more than depositing ₹5,000 per month in an RD for 12 months. The RD wins when you do not have the lump sum, which is most of the time.
A bank RD is not the only option either. The Post Office runs its own 5 year Recurring Deposit, and National Savings Certificates work on a similar lock-in with a lump sum instead of monthly installments. Rates on these move independently of bank RDs, sometimes ahead, sometimes behind, so it is worth a quick check before assuming your bank already has the best deal.
Practical use case: An RD is ideal when saving toward a goal from monthly salary. If you get ₹5,000 in your hand every month and want to accumulate for a year-end expense, an RD is simply a disciplined way to avoid spending that ₹5,000.
Most FD calculators assume you have one number sitting in your account today and that is the whole story. Real life rarely works that way. A bonus lands in March. A maturing insurance policy pays out in August. Your salary goes up a little every April. None of that fits cleanly into deposit once and wait.
This calculator lets you add a top-up to an FD against a specific year of the tenure, so if you know a bonus is coming in year 3, you can see exactly what that adds to the final maturity instead of guessing. RDs have the opposite problem. You commit to one fixed monthly amount for the entire tenure, which does not match a salary that actually grows every year. A step-up RD lets the monthly deposit increase automatically, by a percentage or a flat amount, once a year, so your saving rate keeps pace with your income instead of staying frozen at year-one levels.
Worth knowing: banks do not actually let you add money to an existing FD. In practice you would open a fresh one, possibly at a different rate than your original. Treat the top-up field as a what if I invest the bonus too projection for planning, not a literal instruction you can hand your bank. If you are weighing this against building wealth through the market instead, our SIP calculator shows the same kind of year-by-year growth for mutual fund investing.
Yes, but the difference is smaller than most people assume. The gap between quarterly and monthly compounding on a 7% FD is roughly 0.05 to 0.1 percentage points of effective yield. On ₹1 lakh over one year, that is about ₹50 to ₹100 extra. Not nothing, but not life-changing.
What matters far more is the headline rate itself. A bank offering 7.5% quarterly compounding beats one offering 7.25% monthly compounding by a clear margin. Focus on the rate first, compounding frequency second.
FD interest is taxed at your income tax slab rate. If you are in the 30% bracket, a 7% FD becomes a 4.9% post-tax return. After inflation, the real return is close to zero or negative. This is not a reason to avoid FDs for short-term goals, but it is a reason not to lock large amounts in long-term FDs when you are in a high tax bracket.
Eligible resident taxpayers can submit Form 15G or 15H to request non-deduction of TDS where the applicable conditions are satisfied. Form 15G generally applies to eligible residents below 60, while Form 15H applies to eligible resident senior citizens.
Note on tax-saving FDs: 5-year tax-saver FDs qualify for 80C deduction up to ₹1.5 lakh, but the interest earned is still fully taxable. There is a lock-in and no premature withdrawal. Weigh this against ELSS before choosing.
The rate printed on a bank's website assumes you leave the money untouched for the full tenure. Break the FD early and two things happen. First, you earn interest at whatever rate applied for the period you actually held it, not the rate you booked it at. Second, most banks charge a penalty on top of that, usually 0.5% to 1% shaved off an already lower rate. A 7% FD closed after 8 months of a 12-month tenure might effectively pay you 5.5% to 6%, not 7%.
There is a second thing the rate card does not spell out: whether the FD is cumulative or non-cumulative. Cumulative is what this calculator assumes. All interest compounds and you get everything, principal and interest, together at maturity. Non-cumulative FDs pay out interest on a schedule instead, monthly, quarterly or annually, with the principal returning separately at the end. Retirees who want a regular income often pick non-cumulative on purpose. If that is your goal, the maturity figure this calculator shows will not match your situation, since you would be spending the interest along the way instead of letting it compound.
If the penalty for breaking an FD early bothers you, the standard fix is to stop putting all your money into one FD in the first place. Split ₹3 lakh into three FDs of ₹1 lakh each, maturing a year apart instead of all three years out together. Now something matures every year. If you do not need it, roll it into a new FD at whatever the current rate is. If you do need it, you only break one small FD instead of your entire savings, and only pay the penalty on that smaller chunk.
Laddering also protects you from locking a large sum at today's rate right before rates rise. With a ladder, something is always maturing and ready to be reinvested at the newer, and hopefully better, rate.
Small Finance Banks may offer higher FD rates than large scheduled banks. The difference varies by bank and tenure, so treat the rate as one factor rather than assuming a fixed premium across the market.
Age is another lever that is easy to miss. Banks may offer additional interest to resident senior citizens, but the extra rate varies by bank and deposit product. If you are calculating this for a parent, check the bank's current senior-citizen rate specifically. If you are calculating this for a parent, check the senior citizen rate specifically. Banks rarely apply it automatically to the headline rate you see advertised first.
The DICGC guarantee covers deposits up to ₹5 lakh per depositor per bank, regardless of whether it is a large private bank or a small finance bank. For amounts within this limit, the risk difference is negligible. For amounts above ₹5 lakh, it is worth thinking about whether the extra rate justifies concentrating the deposit in a smaller institution.
Sources
Tax and deposit-rule information on this page can change. For the latest rules and product-specific terms, check the official sources below.
FAQ
FD maturity is calculated using compound interest: Maturity = Principal x (1 + r/n)^(n x t), where r is the annual interest rate, n is the compounding frequency per year (quarterly means 4), and t is the tenure in years. Most Indian banks compound quarterly by default.
In an FD you deposit a lump sum once and earn interest on the full amount for the entire tenure. In an RD you deposit a fixed amount every month and each installment earns interest only from its deposit date. FDs suit those with a surplus amount. RDs suit those who want to save incrementally from monthly income.
RD maturity is calculated by treating each monthly installment as a separate deposit earning compound interest for its remaining tenure. The standard Indian banking formula compounds quarterly: M = R x [(1+r)^n - 1] / [1 - (1+r)^(-1/3)], where R is the monthly installment, r is the quarterly rate, and n is the number of quarters.
Yes. FD and RD interest is fully taxable as per your income tax slab. For bank, co-operative bank and post-office time deposits, the TDS threshold is ₹50,000 for most residents and ₹1,00,000 for resident senior citizens. Where TDS applies, the rate for resident interest income is 10%. Eligible taxpayers may submit Form 15G or 15H where the applicable conditions are met.
Rates vary by bank, tenure, deposit type and customer category, and can change over time. Some Small Finance Banks may offer higher rates than large banks, so compare current rates and terms before booking.
Most Indian banks allow FDs starting from Rs 1,000, and RDs from a similarly small monthly deposit, though some banks set a higher minimum depending on the branch and account type. There is no real ceiling on the maximum, though very large deposits sometimes get a custom negotiated rate instead of the advertised one.
Missed-RD penalties and account-closure rules vary by bank and product. Check the bank's current RD terms for the late-payment charge, grace period and consequences of repeated missed instalments. If your income is irregular, a lower base amount with a step-up RD is usually safer than overcommitting to a fixed monthly figure.
Premature RD withdrawal is governed by the bank's terms. You may receive interest at a lower applicable rate and a bank may levy a premature-withdrawal penalty. Check the bank's current terms before opening an RD.
No. The maturity amount shown is the gross figure before any tax or TDS. Banks deduct TDS at the time of payout if your interest crosses the threshold, so the amount that actually lands in your account will be slightly lower if TDS applies to you. Use the tax section on this page to estimate your own post-tax return based on your income slab.
It depends on your goal and how much risk you can take. An RD offers a predetermined interest rate subject to the deposit's terms, while a SIP is a method of investing in mutual funds and carries market risk. Which is more suitable depends on the goal, time horizon, liquidity needs and risk tolerance. For short-term goals where capital stability matters, an RD may be more appropriate; longer-term investors may consider market-linked investments as part of a broader plan.