My Money

FD and RD calculator

Bank deposits are the simplest way to save safely. See what an FD or RD grows to and how much of it is interest.

₹
₹5 lakh
 %
Big banks pay about 6–6.6% now (more for seniors); small finance banks pay more
 yrs
Maturity amount
₹6,90,210
₹1,90,210 interest on ₹5,00,000 at 6.5%

Principal and interest

Interest
₹1.9 L
Deposited
₹5,00,000
Interest earned
₹1,90,210
Effective yearly yield
6.66%

Growth

0₹2 L₹4 L₹6 L₹8 LYr 0Yr 1Yr 2Yr 3Yr 4Yr 5
BalanceDeposited
Interest is taxed at your slab rate. At about ₹38,042 a year you stay under the ₹50,000 TDS limit with this bank.
How it’s calculated

The maths, in plain words

Quarterly compounding

Most Indian banks compound FD interest every quarter: maturity = P × (1 + r/4)⁴ᵗ.

RD

Each monthly instalment earns quarterly-compounded interest for the months it stays in the account.

Tax

FD and RD interest is added to your income and taxed at your slab rate. Banks deduct 10% TDS if interest crosses ₹50,000 a year (₹1 lakh for seniors).

Questions

People also ask

Your inputs stay on this device. Use Copy link to save or share a calculation.

Do senior citizens get higher FD rates?
Most banks pay senior citizens 0.25–0.75% extra. Toggle the senior option to add 0.5%.
FD or debt mutual fund?
Since April 2023, debt fund gains are also taxed at your slab rate, so the tax advantage is gone. FDs are simpler; debt funds offer more liquidity and no TDS.
Understand it

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