How to use this calculator

1. Pick the deposit type. A Fixed Deposit is one lump sum locked for the term. A Recurring Deposit is a fixed amount paid every month for the term. The amount field relabels itself accordingly.
2. Enter the bank's rate and your term in months. Both FD and RD here compound quarterly, the standard for Indian banks.
3. Choose your tax slab. FD/RD interest is fully taxable as "Income from Other Sources" at your slab rate — not at a special lower rate like equity. The tool adds the 4% health & education cess to show your true effective rate.
4. Read both maturity figures. "Promised" is what the bank's rate implies before tax. "In-hand" is what you actually keep after tax. The gap between them is the real cost of tax — it's why a 7% FD rarely grows your money at 7%.
5. Use the donut and table. The donut shows how much of your in-hand maturity is your own money versus post-tax interest. The table stress-tests maturity across rates and terms.

A note on TDS: banks deduct 10% TDS on interest once it crosses ₹40,000 in a year (₹50,000 for senior citizens). This is not an extra charge — it's advance collection of the same slab tax shown above, which you adjust against your final return. Total tax stays your slab rate.

All figures are illustrations at the rate and tax slab you enter, computed on total interest earned (not year-by-year accrual), and are not guarantees or tax advice. For your exact liability, consult a qualified tax professional. This tool is for education only and is not investment advice.