FD & RD Calculator
Calculate the maturity value and interest for a fixed deposit or recurring deposit, with quarterly compounding as followed by Indian banks. Includes a senior citizen option, payout choices and TDS guidance.
How the calculation works
- FD, 6 months or more: interest is compounded every quarter; any days after the last full quarter earn simple interest.
- FD, less than 6 months: simple interest at maturity (days ÷ 365).
- Monthly payout: the quarterly interest is discounted to a monthly figure, so it is slightly less than rate ÷ 12.
- RD: each instalment is compounded quarterly for the months it remains invested.
Enter your own bank's current rate. Rates differ by bank, tenure and amount, and this calculator does not assume any bank's rates.
Frequently asked questions
How do Indian banks calculate FD interest?
For deposits of 6 months or more, most banks compound interest every quarter. For shorter deposits, simple interest is usually paid at maturity. This calculator follows that method and adds simple interest for any broken period after the last full quarter.
How is RD maturity calculated?
Each monthly instalment earns interest compounded quarterly for the time it stays invested. The first instalment earns for the full tenure, the last one for one month. The calculator adds up the maturity value of every instalment.
When is TDS deducted on FD and RD interest?
Banks deduct TDS at 10% when your total interest from deposits in the same bank exceeds ₹50,000 in a financial year (₹1,00,000 for senior citizens). The rate is 20% if PAN is not provided. TDS applies to interest accrued each year, even on cumulative deposits.
What replaced Form 15G and Form 15H?
From 1 April 2026, under the Income-tax Act, 2025, the declaration for receiving interest without TDS is made in Form 121 (section 393(6)), which replaces the earlier Forms 15G and 15H. Submit it to your bank at the start of the financial year if your total income is below the taxable limit.
Are my deposits insured?
Yes, up to ₹5 lakh per depositor per bank, including principal and interest across all your accounts in that bank, under DICGC deposit insurance.
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Built by Sathikbasha, a banking professional from Pondicherry, India. Results are estimates for guidance only; your bank's documents are the final reference. Views expressed on this website are personal and do not represent any employer or institution. Content is for general awareness and education only and is not financial or investment advice.