RD Calculator
Work out the maturity value of a recurring deposit with quarterly compounding.
FD Calculator
Enter the deposit, rate and tenure to see what your fixed deposit will pay at maturity.
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How to use it
- Enter the deposit amount and the interest rate.
- Enter the tenure in years and months.
- Pick how the interest compounds and read the maturity amount.
Questions people ask
How do banks compound FD interest?
Most Indian banks compound fixed deposit interest quarterly. Rs 1,00,000 at 7% for 5 years compounded quarterly matures at about Rs 1,41,478.
Is the interest taxable?
Yes. Interest on a fixed deposit is added to your income and taxed at your slab rate. Banks deduct TDS once your interest from the bank passes a yearly limit, which depends on your age. Confirm the current limit with your bank.
Why is my bank's maturity figure slightly different?
Banks may use days instead of months, round interest each quarter, or pay a different rate for senior citizens or special tenures. The bank's receipt is final.
What is the effective yearly return?
It is the yearly rate that gives the same maturity with yearly compounding. Quarterly compounding makes a 7% FD earn about 7.19% a year.
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