CalcFD & RD Maturity Interest Calculator
Calculate interest and maturity values for Fixed Deposits (FD) and Recurring Deposits (RD) with standard quarterly compounding in India.
Maturity Value
Formula & Calculation
Maturity Value (FD) = P * (1 + r/4)^(4*t) | Maturity Value (RD) = Sum of Monthly Deposits Compounded Quarterly- P: Principal deposit amount (Fixed Deposit) or Systematic Monthly Deposit (Recurring Deposit).
- r: Interest rate per year.
- t: Tenure in years.
How to Use
- Choose the deposit scheme type (Fixed Deposit or Recurring Deposit).
- Input the principal amount or monthly deposit budget.
- Provide the annual interest rate percentage and tenure.
- Inspect maturity amount and total wealth interest gains.
Frequently Asked Questions
What is the difference between FD and RD?
Fixed Deposit (FD) requires a one-time lumpsum investment, while Recurring Deposit (RD) involves making fixed deposits at regular intervals (monthly).
How is interest compounded on FDs in India?
Indian banks typically compound FD interest on a quarterly basis. The formula is: A = P(1 + r/4)^(4n).
Is FD and RD interest taxable in India?
Yes, interest earned on both FD and RD is taxable as 'Income from Other Sources' under slab rates. Banks deduct 10% TDS if interest exceeds ₹40,000 (₹50,000 for senior citizens) in a year.
What is premature withdrawal in FD/RD?
Withdrawing money before maturity is allowed but usually incurs a penalty of 0.5% to 1.0% on the applicable interest rate.
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