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FD & RD Calculator

Last updated: 2026-05-04
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folder_open Investment Calculator

FD & RD Calculator

Calculate Fixed Deposit & Recurring Deposit Maturity

Updated Rates
lightbulb Smart Tip: Switch between Fixed Deposit (FD) and Recurring Deposit (RD) tabs below. Enter your investment details and the results will update automatically on the right. Senior citizens get 0.50% extra interest rate.

account_balance Fixed Deposit Calculator

Calculate your Fixed Deposit maturity amount with compound interest. Choose quarterly compounding for maximum returns.

₹
Min: ₹1,000 | Recommended: ₹1,00,000+
7.1% p.a. (SBI FD Rate) ▼
7.1% p.a. (SBI FD Rate)
7.25% p.a. (HDFC FD Rate)
7.5% p.a. (ICICI FD Rate)
7.0% p.a. (PNB FD Rate)
6.5% p.a. (Lowest Bank FD)
Enter Custom Rate
Years ▼
Years
Months
FD tenure: 7 days to 10 years
Quarterly (Most Common) ▼
Quarterly (Most Common)
Monthly (Higher Returns)
Half-Yearly
Yearly
Quarterly is standard for most Indian banks
At Maturity (Cumulative) ▼
At Maturity (Cumulative)
Monthly Payout
Quarterly Payout
General ▼
General
Senior Citizen (+0.5%)
Senior citizens (60+) get 0.50% extra rate

autorenew Recurring Deposit Calculator

Calculate your Recurring Deposit maturity amount based on monthly deposits. RD is perfect for building a savings habit with guaranteed returns.

₹
Min: ₹100 | Recommended: ₹5,000 - ₹25,000
6.7% p.a. (SBI RD Rate) ▼
6.7% p.a. (SBI RD Rate)
7.0% p.a. (HDFC RD Rate)
6.5% p.a. (ICICI RD Rate)
6.6% p.a. (PNB RD Rate)
Enter Custom Rate
5 Years ▼
1 Year
2 Years
3 Years
4 Years
5 Years
7 Years
10 Years
RD tenure: 6 months to 10 years
General ▼
General
Senior Citizen (+0.5%)
Senior citizens (60+) get 0.50% extra rate

bar_chart FD Returns Summary

ParticularsAmount
Principal Invested₹1,00,000
Total Interest Earned₹42,576
Maturity Amount₹1,42,576
Effective Annual Yield7.39% p.a.
Principal
₹1,00,000
Interest
₹42,576
70%
30%
Principal
Interest Earned

compare_arrows FD vs RD Comparison

FeatureFixed Deposit (FD)Recurring Deposit (RD)
Investment TypeOne-time lumpsumMonthly deposits
Minimum AmountRs 1,000Rs 100 (Rs 500 in most banks)
Tenure7 days to 10 years6 months to 10 years
Interest Rate6.5% - 7.5%6.0% - 7.0%
Interest Payout OptionsMonthly, Quarterly, At MaturityAt Maturity only
TDS DeductionYes, above Rs 40,000/yearNo automatic TDS
Premature WithdrawalAllowed with penalty (0.5-1%)Allowed with penalty
Best ForLumpsum investment, regular incomeBuilding savings habit

info FD & RD Calculator: Key Information

What is a Fixed Deposit (FD)?

A Fixed Deposit is a one-time lumpsum investment where you deposit a specific amount with a bank for a predetermined tenure ranging from 7 days to 10 years. The interest rate is fixed at the time of booking and remains constant throughout the tenure, regardless of market fluctuations. FD interest rates in India currently range from 6.5% to 7.5% for general citizens, with senior citizens enjoying an additional 0.50% rate benefit.

The power of compounding makes FDs particularly attractive for long-term investments. With quarterly compounding (the most common frequency in Indian banks), a Rs 1 lakh FD at 7% for 5 years grows to approximately Rs 1.42 lakh. This compounding effect means your interest earns additional interest, significantly boosting your final returns compared to simple interest calculations.

What is a Recurring Deposit (RD)?

A Recurring Deposit allows you to invest a fixed amount every month for a set period, typically ranging from 6 months to 10 years. RD is ideal for salaried individuals who want to build savings systematically. Each monthly deposit earns interest from the date of deposit until maturity, with the first deposit earning the maximum interest and the last deposit earning only one month's interest.

RD interest rates are generally 0.25% to 0.50% lower than FD rates for the same tenure, as banks prefer lumpsum deposits. However, the flexibility of monthly investments makes RDs perfect for building a corpus gradually. A monthly RD of Rs 10,000 for 5 years at 6.7% yields a maturity amount of approximately Rs 7.15 lakh.

Interest Calculation Methods

FD interest is calculated using the compound interest formula: A = P(1 + r/n)^(nt), where P is the principal, r is the annual interest rate, n is the compounding frequency, and t is the tenure in years. Quarterly compounding (n=4) is most common in Indian banks, though monthly compounding offers marginally higher returns.

RD interest calculation is more complex, as each monthly deposit has a different remaining tenure. The formula accounts for the varying interest earned by each installment, summing up the future value of each monthly deposit compounded at the monthly rate for its remaining months.

Tax on FD and RD Interest

Interest earned on both FD and RD is fully taxable as "Income from Other Sources" under the Income Tax Act, 2025. For FDs, banks deduct TDS at 10% under Section 393 if total interest from all FDs with that bank exceeds Rs 40,000 in a financial year (Rs 50,000 for senior citizens). No TDS is deducted on RD interest, but you must declare and pay tax on it while filing your ITR.

To avoid TDS deduction on FD interest when your total income is below the taxable limit, submit Form 15G (for individuals below 60 years) or Form 15H (for senior citizens) at the beginning of each financial year. Without PAN, TDS is deducted at a higher rate of 20%.

Tax-Saving FD: Section 80C Benefits

A Tax-Saving FD with 5-year lock-in period qualifies for deduction under Section 80C, allowing you to claim up to Rs 1.5 lakh per financial year. However, this benefit is only available under the Old Tax Regime. The interest earned continues to be taxable. Major banks like SBI, HDFC, ICICI, and PNB offer tax-saving FDs with interest rates ranging from 6.5% to 7.25%.

FD & RD Interest Rate Quick Reference

BankFD Rate (1Y)FD Rate (5Y)RD Rate (5Y)Senior Rate
SBI6.80%7.00%6.70%+0.50%
HDFC6.90%7.25%7.00%+0.50%
ICICI6.90%7.25%6.50%+0.50%
PNB6.75%7.00%6.60%+0.50%
Post Office6.90%7.50%6.70%N/A

FD vs RD: Complete Guide to Fixed and Recurring Deposits in India

Fixed Deposits (FD) and Recurring Deposits (RD) are two of the most popular investment options in India for risk-averse investors seeking guaranteed returns. Both instruments are offered by banks and post offices, providing capital protection with predetermined interest rates. Understanding the key differences between FD and RD can help you choose the right investment based on your financial goals and cash flow patterns.

What is a Fixed Deposit (FD)?

A Fixed Deposit is a one-time lumpsum investment where you deposit a specific amount with a bank for a predetermined tenure ranging from 7 days to 10 years. The interest rate is fixed at the time of booking and remains constant throughout the tenure, regardless of market fluctuations. FD interest rates in India currently range from 6.5% to 7.5% for general citizens, with senior citizens enjoying an additional 0.50% rate benefit.

The power of compounding makes FDs particularly attractive for long-term investments. With quarterly compounding (the most common frequency in Indian banks), a Rs 1 lakh FD at 7% for 5 years grows to approximately Rs 1.42 lakh. This compounding effect means your interest earns additional interest, significantly boosting your final returns compared to simple interest calculations.

What is a Recurring Deposit (RD)?

A Recurring Deposit allows you to invest a fixed amount every month for a set period, typically ranging from 6 months to 10 years. RD is ideal for salaried individuals who want to build savings systematically. Each monthly deposit earns interest from the date of deposit until maturity, with the first deposit earning the maximum interest and the last deposit earning only one month's interest.

RD interest rates are generally 0.25% to 0.50% lower than FD rates for the same tenure, as banks prefer lumpsum deposits. However, the flexibility of monthly investments makes RDs perfect for building a corpus gradually. A monthly RD of Rs 10,000 for 5 years at 6.7% yields a maturity amount of approximately Rs 7.15 lakh.

Interest Calculation: How FD and RD Returns are Computed

FD interest is calculated using the compound interest formula: A = P(1 + r/n)^(nt), where P is the principal, r is the annual interest rate, n is the compounding frequency, and t is the tenure in years. Quarterly compounding (n=4) is most common in Indian banks, though monthly compounding offers marginally higher returns.

RD interest calculation is more complex, as each monthly deposit has a different remaining tenure. The formula used is: M = P × [(1+i)^n - 1] / (1-(1+i)^(-1/3)), where P is the monthly deposit, i is the monthly interest rate, and n is the number of months. This accounts for the varying interest earned by each installment.

Tax on FD and RD Interest

Interest earned on both FD and RD is fully taxable as "Income from Other Sources" under the Income Tax Act, 2025. For FDs, banks deduct TDS at 10% under Section 393 if total interest from all FDs with that bank exceeds Rs 40,000 in a financial year (Rs 50,000 for senior citizens). No TDS is deducted on RD interest, but you must declare and pay tax on it while filing your ITR.

To avoid TDS deduction on FD interest when your total income is below the taxable limit, submit Form 15G (for individuals below 60 years) or Form 15H (for senior citizens) at the beginning of each financial year. Without PAN, TDS is deducted at a higher rate of 20%.

Tax-Saving FD: Section 80C Benefits

A Tax-Saving FD with 5-year lock-in period qualifies for deduction under Section 80C, allowing you to claim up to Rs 1.5 lakh per financial year. However, this benefit is only available under the Old Tax Regime. The interest earned continues to be taxable. Major banks like SBI, HDFC, ICICI, and PNB offer tax-saving FDs with interest rates ranging from 6.5% to 7.25%.

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Explore our other investment planning tools to make informed financial decisions:

Frequently Asked Questions about FD and RD

Find answers to common questions about fd rd calculator. Click on any question to expand the answer.

Yes, FD interest is fully taxable as 'Income from Other Sources' under the Income Tax Act, 2025. Banks deduct TDS under Section 393 at 10% if interest exceeds ₹40,000 per bank per year (₹50,000 for seniors). Submit Form 15G/15H to avoid TDS if your total income is below taxable limit.

Most banks charge a penalty of 0.5% to 1% lower interest rate on premature withdrawal. For example, if your FD was at 7% and you break it early, you might get only 6-6.5% interest. Some banks offer sweep-in FD facility to minimize this penalty.

Choose FD if you have a lumpsum amount to invest and want guaranteed returns. Choose RD if you want to build savings through regular monthly deposits. FDs offer slightly higher rates. For tax-saving, consider Tax-saving FD (5-year lock-in) under Section 80C of the Income Tax Act, 2025.

Cumulative FD pays interest at maturity along with principal, offering higher effective returns due to compounding. Non-cumulative FD pays interest monthly, quarterly, or annually, suitable for those needing regular income. Cumulative FD gives better overall returns.

Yes, banks offer loans against FD up to 90-95% of the FD amount at 1-2% higher interest rate than the FD rate. This is better than premature withdrawal as you avoid penalty and your FD continues earning interest.

For FY 2026-27, key small savings rates include: NSC at 7.7% per annum, KVP (Kisan Vikas Patra) at 7.5% per annum (doubles in ~10 years), and Senior Citizens Savings Scheme (SCSS) at 8.2% per annum. These are reviewed quarterly by the government.

gavel Legal Disclaimer

This calculator is for informational and educational purposes only. Investment returns are illustrative and based on assumed rates that may vary. Market-linked investments carry risk and past performance does not guarantee future returns. Interest rates on small savings schemes are reviewed quarterly by the Government of India. This tool should not be considered as financial advice. Consult a SEBI-registered financial advisor before making investment decisions.

verified Source: SEBI / Ministry of Finance, Govt. of India • Last updated: 2026-05-04

update Latest Updates & Regulatory Changes

UPDATED

trending_up Small Savings Rates Q1 2026-27

The Government of India reviews small savings scheme interest rates quarterly. PPF rate is 7.1%, Senior Citizens Savings Scheme is 8.2%, and Sukanya Samriddhi is 8.2% for Q1 FY 2026-27.

NEW

account_balance NPS Tier-I Tax Benefit Enhanced

Under the New Tax Regime, NPS employer contribution deduction under Section 80CCD(2) continues to be available. Under the Old Regime, additional ₹50,000 deduction under 80CCD(1B) is also available.

description Terms, Rules & Regulations

gavel

SEBI & RBI Regulations

Mutual fund investments are regulated by SEBI, and small savings schemes by the Ministry of Finance through RBI. Interest rates on government schemes are reviewed quarterly. Returns on market-linked instruments are not guaranteed and subject to market risks.

verified_user

Rate Assumptions

Investment calculators use assumed rates of return for illustration purposes. Actual returns on market-linked investments (mutual funds, equities) will vary. Small savings scheme rates are as per the latest quarterly notification by the Government of India.

policy

Tax on Investment Returns

Capital gains tax, dividend taxation, and interest income taxation rules apply as per the Income Tax Act, 2025. LTCG, STCG, and debt fund taxation rules have been updated. Consult a tax professional for personalized guidance on investment tax implications.

`;printWindow.document.write(html); printWindow.document.close(); setTimeout(() => printWindow.print(), 250); }function fdRdExportPDF() { fdRdPrintComputation(); }function fdRdExportExcel() { const { type, data } = getActiveData(); if ((!data.principal && !data.maturity) && (!data.monthlyDeposit)) { alert('Please calculate first'); return; } const isFD = type === 'FD';let csvContent = `${type} Calculation Report\n`; csvContent += 'Generated On,' + new Date().toLocaleDateString('en-IN') + '\n\n'; csvContent += 'Investment Details\n'; if (isFD) { csvContent += 'Deposit Amount,' + Math.round(data.principal) + '\n'; csvContent += 'Interest Rate (%),' + data.rate.toFixed(2) + '\n'; csvContent += 'Tenure,' + data.tenure + ' ' + data.tenureType + '\n'; csvContent += 'Compounding,' + data.compounding + '\n'; csvContent += 'Payout,' + data.payout + '\n'; csvContent += 'Citizen Type,' + data.citizen + '\n\n'; csvContent += 'Returns Summary\n'; csvContent += 'Principal Invested,' + Math.round(data.principal) + '\n'; csvContent += 'Interest Earned,' + Math.round(data.interest) + '\n'; csvContent += 'Maturity Amount,' + Math.round(data.maturity) + '\n'; csvContent += 'Effective Yield (%),' + data.effectiveYield.toFixed(2) + '\n'; } else { csvContent += 'Monthly Deposit,' + Math.round(data.monthlyDeposit) + '\n'; csvContent += 'Interest Rate (%),' + data.rate.toFixed(2) + '\n'; csvContent += 'Tenure (Years),' + data.years + '\n'; csvContent += 'Citizen Type,' + data.citizen + '\n\n'; csvContent += 'Returns Summary\n'; csvContent += 'Total Deposits,' + Math.round(data.principal) + '\n'; csvContent += 'Interest Earned,' + Math.round(data.interest) + '\n'; csvContent += 'Maturity Amount,' + Math.round(data.maturity) + '\n'; csvContent += 'Effective Yield (%),' + data.effectiveYield.toFixed(2) + '\n'; } csvContent += '\nDisclaimer\nThis is for informational purposes only. Consult a financial advisor.\n';const blob = new Blob([csvContent], { type: 'text/csv' }); const url = URL.createObjectURL(blob); const a = document.createElement('a'); a.href = url; a.download = type.toLowerCase() + '-calculation-report-' + new Date().toISOString().slice(0, 10) + '.csv'; a.click(); URL.revokeObjectURL(url); }// ===== INITIALIZE ===== document.addEventListener('DOMContentLoaded', function() { calculateFD(); calculateRD(); });
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