FD & RD Calculator (Fixed & Recurring Deposit)
Calculate maturity amounts and total interest earned on your Indian bank deposits.
Enter your deposit details to see the returns.
What is the FD & RD Calculator?
The KagazKit Deposit Calculator helps you project the maturity value and interest earned on Fixed Deposits (FD) and Recurring Deposits (RD) based on standard Indian banking formulas. FDs involve a one-time lump sum investment for a fixed period, while RDs allow monthly contributions over a fixed tenure. Both are popular low-risk savings instruments in India. Our calculator uses quarterly compounding for FDs and the Future Value of Annuity formula for RDs to give you accurate projections.
How to Use This Tool
- 1Select deposit type — Choose between Fixed Deposit (lump sum investment) or Recurring Deposit (monthly contributions).
- 2Enter the amount — For FD, enter the one-time investment amount. For RD, enter the monthly deposit amount.
- 3Set interest rate and tenure — Enter the annual interest rate offered by your bank and the deposit duration in years.
- 4View maturity projection — See the total invested amount, interest earned, and maturity value with a clear breakdown.
Why Use This Tool?
- ✓Supports both Fixed Deposit and Recurring Deposit calculations
- ✓Quarterly compounding for FD (standard Indian banking practice)
- ✓Future Value of Annuity formula for RD accuracy
- ✓Clear principal vs interest breakdown
- ✓Compare different rates and tenures side-by-side
- ✓All calculations run privately in your browser
Common Use Cases
- Comparing FD interest rates across different banks to find the best return for a lump sum savings amount.
- Planning monthly RD contributions to save for a specific goal like a vacation, wedding, or emergency fund.
- Senior citizens evaluating which bank offers the best FD rate with the highest quarterly compounded return.
- Estimating TDS liability on FD interest exceeding ₹40,000/year (₹50,000 for senior citizens).
Frequently Asked Questions
What is the difference between FD and RD?
A Fixed Deposit (FD) is a one-time lump sum investment made for a specific period at a fixed interest rate. A Recurring Deposit (RD) allows you to deposit a fixed amount every month for a specific period. Both offer guaranteed, predetermined returns — FDs suit those with a lump sum to invest, while RDs suit regular monthly savers.
How is Fixed Deposit interest calculated?
In India, most banks compound Fixed Deposit interest quarterly. This means the interest earned in the first quarter is added to the principal, and you earn interest on the new total in subsequent quarters. Our calculator uses this standard quarterly compounding formula.
Are FD and RD returns taxable?
Yes, the interest earned from both FDs and RDs is fully taxable according to your income tax slab. Banks deduct TDS (Tax Deducted at Source) if the interest exceeds ₹40,000 per year (₹50,000 for senior citizens). You can claim this TDS credit when filing your ITR.
Can I break an FD before maturity?
Yes, most banks allow premature withdrawal of FDs, but they typically charge a penalty of 0.5-1% on the interest rate. Some banks also offer sweep-in FDs that auto-break only the required portion, preserving interest on the remaining balance.
Is my financial data secure?
All deposit calculations run entirely in your web browser. Your investment amounts, interest rates, and projected returns are never sent to any server. Your financial planning data remains completely private and secure.