Fixed deposit
Gross estimate. TDS, premature-withdrawal penalties and special rates are not included.
Two tabs. Fixed deposit: lump principal, annual rate, 1–30 years, compounding yearly / half-yearly / quarterly (default) / monthly. Recurring deposit: monthly instalment, rate, tenure in months. Both show invested vs interest on a donut plus an effective yield figure.
FD formula
Maturity A = P × (1 + r/n)^(n×t) where n is 1, 2, 4, or 12. Effective yield shown is (1 + r/n)^n − 1 as a percent—the annualised rate if compounding happened once a year.
Quarterly compounding
₹1,00,000 at 7% for 5 years, n = 4.
≈ ₹1,41,478
≈ ₹41,478
RD formula
Monthly rate i = r/12. Maturity M = P × (1+i) × ((1+i)^n − 1) / i (or P×n if the rate is 0). Instalments are treated as made at the start of each month. Tenure steps on the RD slider are six months apart between 6 and 360 months; monthly deposit ₹500–₹1 lakh; rate 1–15%.
Bank statements still differ
- TDS, premature-break penalties, missed RD charges, senior-citizen extra rates.
- Some banks quote quarterly compounding on paper and apply a slightly different day count.
Processing
Both tabs compute locally. Nothing is uploaded.
Deposit maths questions
What is the difference between an FD and an RD?
A fixed deposit takes a single lump sum and holds it for an agreed term. A recurring deposit takes a fixed amount from you every month and pays interest on the growing balance. An FD suits money you already have; an RD suits money you expect to save monthly.
How does compounding frequency change my maturity value?
More frequent compounding means interest is added to the balance sooner and then earns interest itself. Two deposits quoting the same annual rate can mature at different values if one compounds monthly and the other annually.
What is effective annual yield?
It is the rate you would need under simple annual compounding to reach the same maturity value. Because it normalises for compounding frequency, it is the fairer figure to use when comparing offers from different banks.
Is FD interest taxable?
Yes. Interest on bank deposits is taxable as income and banks deduct tax at source above threshold limits. This calculator shows the gross maturity value, so the amount actually credited to you will be lower.
What happens if I break my FD early?
Most banks apply a penalty, typically a reduction in the applicable interest rate. Premature withdrawal penalties are not modelled here, so an early exit will return less than the figure shown.
Does this include senior citizen rates?
Not automatically. If you qualify for a preferential rate, enter that higher rate directly to see the corresponding maturity value.
Compare with SIP or a loan EMI
SIP assumes market growth; EMI is repayment: SIP Calculator, EMI Calculator, GST Calculator. Browse the full Finance & Date set or the all tools hub.