Deposit Calculators
See exactly what a fixed or recurring deposit will pay at maturity, including senior-citizen rates. Then compare what each bank actually offers before you book.
FD or RD — same product, different cash flow
A fixed deposit takes a lump sum today; a recurring deposit takes a fixed sum every month. The interest mechanics are otherwise the same, which is why an RD always matures to less than an FD of equal total outlay — in an RD, your last instalment earns interest for only a month. Use the FD calculator when the money already exists, the RD calculator when you are building the sum out of salary. If your real goal is an emergency fund, an RD feeding into a ladder of FDs is a common structure — our emergency fund guide covers how much to hold and where.
Compounding frequency and the cumulative choice
Most Indian bank FDs compound quarterly, which is why the effective annual yield is slightly above the quoted rate — the calculators handle this for you. The choice that actually changes your outcome is cumulative versus payout: a cumulative FD reinvests each quarter’s interest so it compounds, while monthly- or quarterly-payout FDs hand interest out as income and forgo that compounding. Retirees drawing on interest want payout; anyone saving toward a future sum almost always wants cumulative.
Senior citizens get a higher rate at nearly every bank — typically half a percentage point — and the rate tables on our bank pages show both columns. See senior-citizen FD rates compared for that view across banks.
Tax: the part the maturity number hides
FD and RD interest is fully taxable as income at your slab rate, and banks deduct TDS once your interest with them crosses the year’s threshold — so the post-tax return can be meaningfully below the quoted rate, especially in the top slabs. Depositors below the taxable limit can file Form 15G (15H for seniors) to stop the deduction, and senior citizens get an additional deduction on deposit interest. The exact thresholds change with Finance Acts; check the current year’s figures before relying on them. When comparing an FD against other instruments, always compare post-tax — a tax-free instrument at a lower quoted rate frequently wins.
Laddering: liquidity without sacrificing rate
Booking one large FD forces a single bet on today’s rates and a single premature-withdrawal penalty if you ever need part of the money early. Splitting the same sum into several FDs of staggered tenures — a ladder — means something matures every few months: cash if you need it, reinvested at the then-current rate if you don’t. It is the closest a deposit product gets to having your cake and eating it, and our FD laddering guide shows exactly how to structure one. Compare what each bank pays first on the FD rates page.