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How do I calculate the maturity of a Fixed Deposit or Recurring Deposit?

Pick Fixed Deposit or Recurring Deposit in AnyTool FD / RD Calculator, enter the amount, the interest rate (7% p.a. by default) and the tenure, and it instantly shows the maturity value, the total you put in and the interest earned. An FD compounds quarterly at most Indian banks, so it uses M = P × (1 + r/n)ⁿᵗ with n = 4 (monthly, half-yearly and annual, plus a simple-interest option, are also available). An RD takes one installment a month and the running balance also compounds quarterly, so the maturity is M = Σ P × (1 + r/4)^(remaining months ÷ 3). A one-tap senior-citizen toggle adds the ≈ +0.50% bonus, a pure-SVG growth chart and a year-by-year table break down deposits versus interest, and everything is calculated in your browser, so nothing is uploaded.

  • FD: M = P × (1 + r/n)ⁿᵗ, quarterly by default (n = 4); RD: M = Σ P × (1 + r/4)^(months ÷ 3)
  • Editable rate (7% default) and a senior-citizen +0.50% toggle
  • Maturity, total invested/deposited and interest, with a growth chart and table
  • Effective APY shown; TDS note flags interest above ₹40,000 (₹50,000 senior)
  • 100% in your browser — no upload, no signup, works offline

What is

FD / RD (Fixed Deposit & Recurring Deposit)

A Fixed Deposit (FD) locks a single lump sum with a bank for a fixed tenure at a fixed interest rate, with interest compounded — at most Indian banks — quarterly. A Recurring Deposit (RD) instead takes one equal installment every month for the tenure, and the accumulating balance earns the same quarterly-compounded interest. Both pay a higher rate to senior citizens (typically +0.25% to +0.75%), and unlike PPF their interest is fully taxable at your slab rate, with banks deducting TDS once annual interest crosses ₹40,000 (₹50,000 for senior citizens).

Calculators

Related terms

Quarterly compoundingMaturity valueSenior-citizen rateTDSEffective annual yield (APY)

Frequently Asked Questions

A fixed deposit uses compound interest, usually quarterly: maturity = principal × (1 + rate ÷ 4) raised to the power of 4 × years.

A Fixed Deposit pays compound interest that most Indian banks credit quarterly, so the maturity is M = P × (1 + r/n)^(n·t), where P is the principal, r the annual rate as a decimal, n the compounding periods per year (4 for quarterly) and t the tenure in years. For example ₹1,00,000 at 7% for three years compounded quarterly grows to about ₹1,23,144. AnyTool FD / RD Calculator lets you switch n to monthly, half-yearly or annual, or choose simple interest for short tenures, and it shows the effective annual yield so you can compare schemes fairly.

Each monthly installment earns quarterly-compounded interest for the months it stays invested, and the maturity is the sum of all those compounded installments.

A Recurring Deposit takes one equal installment every month, and the running balance earns interest compounded quarterly, so each installment compounds for its remaining quarters: M = Σ P × (1 + r/4)^(remaining months ÷ 3). AnyTool computes it with a transparent month-by-month loop that adds the installment and accrues the equivalent monthly factor of the quarterly scheme, which reproduces that bank formula. For instance ₹5,000 a month for a year at around 8% matures near ₹62,600–₹63,000 depending on the exact timing convention a given bank uses.

Yes — banks typically pay senior citizens about 0.25% to 0.75% more; this calculator adds 0.50% when you turn the senior toggle on.

Senior citizens (usually aged 60 and above) earn a preferential rate on Fixed and Recurring Deposits, generally 0.25% to 0.75% above the standard rate, with 0.50% being the most common bump. AnyTool FD / RD Calculator has a one-tap senior-citizen toggle that adds 0.50% to the rate you entered and recomputes the maturity, and it also raises the displayed TDS threshold to ₹50,000. Because the exact bonus varies by bank, you can simply type your bank’s actual rate into the rate field instead.

Yes — FD/RD interest is fully taxable at your slab and banks deduct TDS above ₹40,000 (₹50,000 senior); but nothing is uploaded, every calculation runs in your browser.

Unlike PPF, the interest from Fixed and Recurring Deposits is fully taxable as income from other sources at your slab rate, and banks deduct TDS (10% with PAN) once the interest in a financial year crosses ₹40,000, or ₹50,000 for senior citizens; you can file Form 15G/15H to avoid TDS if your income is below the taxable limit. This calculator shows the gross maturity before tax and flags when interest may cross the TDS threshold. AnyTool FD / RD Calculator runs entirely in your browser, so your amount and rate are never sent to a server and the page works offline.

Detailed Explanation

Methodology

How the FD / RD Calculator Works

AnyTool FD / RD Calculator handles both Indian deposit types in the browser. For a Fixed Deposit it uses compound interest credited quarterly — the standard at most Indian banks — so the maturity is M = P × (1 + r/n)^(n·t), where P is the principal, r the annual rate as a decimal, n the compounding periods per year (4 for quarterly, also 12, 2 or 1) and t the tenure in years; a simple-interest option (M = P × (1 + r·t)) covers short tenures. For a Recurring Deposit each equal monthly installment earns the same quarterly-compounded interest for its remaining tenure, M = Σ P × (1 + r/4)^(remaining months ÷ 3), which the tool computes with a transparent month-by-month loop that adds the installment and accrues the equivalent monthly factor of the quarterly scheme. A senior-citizen toggle adds ≈ 0.50% to the rate, the effective annual yield (APY) is shown, and a 0% rate cleanly returns just the money deposited. All arithmetic is pure client-side JavaScript in a reusable deposit engine.

  • FD: M = P × (1 + r/n)^(n·t), quarterly by default (n = 4); also monthly / half-yearly / annual / simple
  • RD: M = Σ P × (1 + r/4)^(remaining months ÷ 3) via a month-by-month quarterly-compounding loop
  • Senior-citizen +0.50% toggle and an editable rate (7% default)
  • Effective annual yield (APY) shown; 0% rate returns just the deposits
  • All math is client-side JavaScript in a reusable engine — no server round-trip
Use Cases

FD vs RD: Which Deposit Fits, and the Tax on Both

A Fixed Deposit suits a lump sum you can lock away — you invest once and it compounds quarterly until maturity. A Recurring Deposit suits saving a fixed amount from each month’s income — you commit an installment every month and the growing balance compounds quarterly. Because an FD has its whole principal working from day one while an RD builds up gradually, an FD of the same total generally earns more interest than an RD of equal monthly contributions over the same tenure. Both pay senior citizens a higher rate (typically 0.25%–0.75% more) and, crucially, the interest on both is fully taxable at your slab rate as income from other sources — unlike PPF. Banks deduct TDS at 10% with PAN once a year’s interest crosses ₹40,000 (₹50,000 for senior citizens), and you can file Form 15G/15H to avoid it if your income is below the taxable limit. AnyTool shows the gross maturity, flags when interest may cross the TDS threshold, and lets you compare an FD and an RD side by side just by toggling the mode.

  • FD = one lump sum; RD = an equal installment every month
  • An equal-total FD usually out-earns an RD because the full principal compounds from day one
  • Both: senior-citizen rate bonus of about 0.25%–0.75%
  • Interest on both is fully taxable at your slab — unlike tax-free PPF
  • TDS at 10% (with PAN) above ₹40,000 interest a year, ₹50,000 for seniors; Form 15G/15H can waive it
Limitations

A Gross Planning Estimate — Bank Terms Vary

Rates, compounding and rules differ by bank and product, so this is a close estimate rather than your exact bank statement. Most Indian banks compound quarterly, but some use monthly compounding or simple interest on short tenures; the senior-citizen bonus ranges from roughly 0.25% to 0.75% (the tool defaults to 0.50%, and you can type your bank’s exact rate). Real accounts also apply premature-withdrawal penalties (often a 0.5%–1% rate cut), specific day-count conventions and rounding that the model does not replicate, and the figure shown is the gross maturity before the tax and TDS that apply to deposit interest. For an exact number, confirm the rate, compounding frequency, senior bonus and penalty terms with your own bank.

  • Compounding varies — quarterly is typical, but monthly or simple interest occurs
  • Senior bonus varies ≈ 0.25%–0.75%; default 0.50%, but the rate is editable
  • Premature-withdrawal penalties (≈ 0.5%–1% rate cut) are not modelled
  • Figure is gross — FD/RD interest is taxable and subject to TDS
  • A close planning estimate, not your exact bank statement
Privacy & Security

Privacy and Offline Use

Because all computation runs in the browser, your principal or installment, the rate and the tenure are never sent to a server, there is no account or tracking, and the page works offline after first load. The currency selector (₹ default, then $, € and £) only changes how numbers are displayed; the engine itself is currency-agnostic and works in plain numbers, even though FD and RD are India-focused products. The FD / RD Calculator shares the same privacy-first, client-side approach as the rest of the calculator category, so its behaviour is consistent across the SIP, PPF and compound-interest tools.

FD / RD calculator: in-browser (AnyTool) vs typical online calculators
CapabilityAnyToolTypical online calculators
ProcessingRuns in your browserOften server-side
FD + RD in oneSingle mode toggleFrequently separate tools
Compounding choiceMonthly / quarterly / half-yearly / annual + simpleOften fixed to quarterly
Senior-citizen rateOne-tap +0.50% toggleFrequently absent
Growth visualPure-SVG stacked chart, liveOften text or paywalled
Year-by-year tableDeposited, interest, balanceFrequently summary only
Tax / TDS noteFlags TDS threshold, shows grossUsually silent
Honest limitsStates bank-variance & penalty caveatsOften omitted
Cost / signupFree, no signup, works offlineOften ad-heavy or gated

AnyTool computes the maturity, schedule and chart locally and uploads nothing.