Free Online FD & RD Calculator | SkyConverterTools

Calculate Fixed Deposit (FD) and Recurring Deposit (RD) returns with accurate compound interest. Plan your savings goals, compare investment options, and maximize your returns.

Fixed Deposit Calculator

💡 Did you know? FD offers guaranteed returns and is one of the safest investment options in India.

FD Results

Total Investment

--

Total Interest Earned

--

Maturity Amount

--

Effective Yield (%)

--

About FD & RD Calculator

About FD & RD Calculator

Our FD & RD Calculator is a powerful financial tool designed to help you estimate the maturity amount and interest earned on Fixed Deposits and Recurring Deposits. Whether you're planning a lump-sum investment or building a disciplined savings habit, this calculator provides accurate projections based on compound interest formulas.

Fixed Deposits (FDs) are ideal for investors with a lump sum amount looking for guaranteed, risk-free returns. Recurring Deposits (RDs) are perfect for salaried individuals and students who want to save a fixed amount monthly to build a substantial corpus over time.

With support for multiple currencies, flexible compounding frequencies, and real-time results, our calculator empowers you to make informed investment decisions and achieve your financial goals faster.

How to Use FD & RD Calculator

  1. Select between FD or RD calculator using the tabs
  2. Choose your preferred currency (INR, USD, EUR, GBP, JPY, AUD, CAD)
  3. For FD: Enter principal amount, interest rate, tenure, and compounding frequency
  4. For RD: Enter monthly deposit amount, interest rate, tenure, and compounding frequency
  5. Click "Calculate" to see total investment, interest earned, and maturity amount
  6. Use Share button to save or share your calculation results
  7. Reset to start a new calculation anytime

No registration required. Completely free with unlimited calculations for all your savings planning needs.

Use Cases & Who Should Use This Tool

Who Should Use

  • Salaried Professionals - Plan monthly savings through RD or invest bonuses in FD for goals like vacation, car, or home down payment.
  • Retirees & Senior Citizens - Calculate monthly/quarterly interest income from FDs for post-retirement cash flow planning.
  • Students & Young Earners - Build disciplined savings habit with RD and understand the power of compounding early.
  • Small Business Owners - Park surplus business funds in short-term FDs while earning safe returns with high liquidity.
  • Parents & Guardians - Plan for child's education, marriage, or milestone expenses using goal-based FD/RD investments.
  • Financial Advisors & Planners - Provide clients with accurate projections for conservative investment portfolios.
  • Tax Planners - Evaluate 5-year tax-saver FD returns under Section 80C and optimize tax savings.
  • Homemakers & Freelancers - Manage household savings by comparing different tenures and interest rates effortlessly.

Practical Use Cases

  • Goal-Based Savings - Determine how much to deposit monthly in RD to reach ₹5 lakhs in 3 years for a dream vacation.
  • Emergency Fund Creation - Use FD calculator to see how a lump sum grows into a secure emergency corpus within 12-24 months.
  • Senior Citizen Income Planning - Calculate monthly interest payout from senior citizen FD (higher rates) for regular income.
  • Compare Compounding Frequencies - See how monthly vs quarterly vs annual compounding impacts final maturity amount.
  • Tax-Saving FD Analysis - Estimate returns on 5-year tax-saver FD while claiming Section 80C deduction.
  • Child Education Planning - Set up an RD for 5-7 years to accumulate school/college fees without financial stress.
  • Business Surplus Management - Park short-term business profits in FD with 3-6 month tenure for better returns than savings account.
✓ Multiple Currencies ✓ Compound Interest ✓ 100% Free ✓ No Registration ✓ Mobile Friendly

Frequently Asked Questions

What is the difference between FD and RD?

FD (Fixed Deposit) requires a lump sum investment at once for a fixed tenure. RD (Recurring Deposit) involves fixed monthly installments, making it easier for regular savers. Both earn compounded interest, but RD builds corpus gradually through disciplined monthly savings.

How is interest calculated on FD and RD?

FD uses compound interest on the entire principal for the full tenure. RD uses compound interest on each monthly installment. For RD, the formula M = R × [(1+i)^n - 1] / (1 - (1+i)^(-1/3)) is used for quarterly compounding. Our calculator handles both precisely with multiple compounding options.

Which gives higher returns: FD or RD for same rate?

For the same interest rate and tenure, FD gives slightly higher returns because the entire amount earns interest from day one. However, RD is better for those who prefer monthly savings discipline. Use our tool to compare side by side!

Are FD and RD returns taxable?

Yes, interest earned on FD and RD is added to your income and taxed as per your income slab. Banks deduct TDS if interest exceeds ₹40,000 (₹50,000 for senior citizens). Tax-saver FDs (5-year lock-in) offer deduction under Section 80C.

Can I withdraw FD or RD before maturity?

Premature withdrawal is allowed with a penalty (typically 0.5-1% lower interest rate). For RD, closing early may fetch lower interest than promised. Always check bank terms before investing. Some tax-saver FDs have mandatory 5-year lock-in with no premature withdrawal.

What is the ideal tenure for FD and RD?

Short-term goals (1-3 years) suit FD/RD with higher liquidity. Medium-term goals (3-5 years) can lock in competitive rates. Long-term (5+ years) benefits from compounding but may be affected if interest rates rise. Use our calculator to simulate different tenures and find your sweet spot.

Does compounding frequency affect maturity amount?

Yes. More frequent compounding (monthly vs annual) yields higher returns because interest is calculated and added more often. Our calculator lets you switch between monthly, quarterly, half-yearly, and annual compounding to see the impact on your final maturity amount.