Use our free FD & RD Calculator to instantly calculate your maturity amount and interest earned on Fixed Deposits (FD) and Recurring Deposits (RD). Compare returns across different compounding frequencies and plan your savings effectively.
This calculator uses the standard compound interest formula followed by Indian banks. It also shows estimated TDS deduction if your annual interest exceeds ₹50,000, helping you plan your tax liability in advance.
Principal Invested
Interest Earned
Maturity Amount
| Year | Opening Balance (₹) | Interest Earned (₹) | Closing Balance (₹) |
|---|
| Financial Year | Opening Balance | Interest Accrued | Closing Balance | Est. TDS u/s 194A |
|---|
Total Deposited
Interest Earned
Maturity Amount
| Month | Deposit (₹) | Interest (₹) | Balance (₹) |
|---|
Want this in Excel?
FD plus RD maturity calculator with quarterly compounding, TDS auto-flag, and Form 15G eligibility check. CA-prepared.
FD & RD Calculator — FAQs
How is FD interest calculated?
A cumulative fixed deposit earns compound interest, compounded quarterly as followed by Indian banks: Maturity = P x (1 + r/4)^(4 x years). This calculator lets you switch the compounding frequency (monthly, quarterly, half-yearly or annually).
How is RD maturity calculated?
Each monthly instalment earns compound interest (compounded quarterly) for the number of months it stays invested. The tool uses the standard bank RD formula, so a 60-month RD of Rs 10,000 at 7% matures at about Rs 7,19,328.
Is FD and RD interest taxable?
Yes. Interest is taxable under Income from Other Sources at your slab rate. Banks deduct 10% TDS once your interest in a financial year crosses Rs 50,000 (Rs 1,00,000 for senior citizens) in FY 2026-27, and 20% if PAN is not provided. See our Income Tax Calculator to estimate the tax.
Do senior citizens get a higher FD rate?
Yes, most banks offer senior citizens about 0.5% more than the normal rate. Tick the senior-citizen option and the calculator adds 0.5% to the rate you entered.
How can I avoid TDS if my total income is below the taxable limit?
Submit Form 15G (Form 15H for senior citizens) to your bank so no TDS is deducted. Under the Income-tax Act 2025 these declarations are being consolidated into a single Form 121.