FD & RD Calculator

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Fixed Deposit vs Recurring Deposit

A Fixed Deposit (FD) is a lumpsum you deposit once and let grow, untouched, for a fixed tenure — it starts earning interest on the full amount from day one. A Recurring Deposit (RD) is built gradually by depositing a fixed amount every month; your balance, and the interest it earns, grows step by step as each month's deposit joins the pot. FDs suit a lumpsum you already have; RDs suit building savings from your monthly income.

How Maturity Value Is Calculated

FD maturity uses the standard compound interest formula, A = P(1 + r/n)n×t, compounded at the frequency your bank offers (most commonly quarterly in India). RD maturity is calculated month by month: each monthly deposit joins the balance, and the running balance is compounded quarterly — the same convention most Indian banks use for RD accounts.

Frequently Asked Questions

What is the difference between FD and RD?
An FD is a one-time lumpsum deposit that grows for a fixed tenure. An RD is built with fixed monthly deposits over a fixed tenure. Both usually earn a fixed rate, but an FD earns interest on the full amount from day one while an RD's balance builds up gradually.
How is FD interest compounded?
Most Indian banks compound FD interest quarterly by default, though monthly, half-yearly and yearly options also exist. Choose the frequency that matches your specific FD in the calculator above.
Is FD or RD interest taxable?
Yes, interest from both is fully taxable as per your income tax slab, and banks deduct TDS once your total interest from that bank crosses the threshold set by the Income Tax Department in a financial year. This calculator shows the pre-tax maturity value.