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FD / RD Maturity Calculator

Quarterly compounding (standard bank practice) · TDS u/s 194A where interest exceeds threshold · FY 2026-27

Deposit type

Fixed Deposit Recurring Deposit

Amount (₹)Principal (FD) or monthly deposit (RD)

Interest rate (% p.a.)

Tenure (months)

Deposit Maturity Computation

Computed with quarterly compounding; bank-specific day-count conventions may cause minor differences. TDS u/s 194A applies where annual interest exceeds ₹50,000 (bank/co-op/post office; ₹1,00,000 for resident senior citizens) — submit Form 15G/15H if eligible.

About This Tool

The FD/RD Maturity Calculator computes the maturity value of Fixed Deposits (FD) and Recurring Deposits (RD) using quarterly compounding, which is the standard practice followed by most Indian banks and post offices. For FDs, the formula is: Maturity = P × (1 + r/4)^(4t). For RDs, it simulates monthly deposits with quarterly interest application. TDS under Section 194A is deducted by the bank if annual interest exceeds ₹50,000 (₹1,00,000 for senior citizens).

How to Use

Select deposit type: Fixed Deposit or Recurring Deposit.

Enter the deposit amount — principal for FD or monthly instalment for RD.

Enter the interest rate per annum offered by your bank (e.g. 7.1% for PPF-linked FD).

Enter the tenure in months (e.g. 36 for 3 years).

Click Compute — the tool shows total deposited, interest earned, and maturity value.

Frequently Asked Questions

What is the current FD rate for SBI / major banks?

FD rates vary by bank and tenure. In 2026, major bank rates range from 6.5% to 7.5% p.a. for regular FDs and 7–8% for senior citizen FDs. Check your bank's current rate schedule.

When does TDS apply on FD interest?

TDS u/s 194A applies if annual interest from all FDs in one bank exceeds ₹50,000 (₹1,00,000 for senior citizens). TDS rate is 10% if PAN is provided; 20% without PAN.

How do I avoid TDS on FD interest?

Submit Form 15G (below 60 years) or Form 15H (senior citizens) to the bank if your total income is below the taxable limit. This prevents TDS deduction at source.

Is FD interest taxable?

Yes. FD interest is fully taxable as 'Income from Other Sources' at your applicable slab rate, regardless of whether TDS was deducted or not. Report it in your ITR under Schedule OS.