Calculate the maturity value and interest on fixed deposits (FD) and recurring deposits (RD) with quarterly or monthly compounding.
Most Indian banks compound FD and RD interest quarterly, which is the default here.
In India, FD and RD interest is added to your income and taxed at your slab rate. Banks may deduct TDS when the interest crosses the yearly threshold.
An FD suits a lump sum you already have. An RD suits building savings from your monthly income. For the same rate and tenure, an FD earns more because the whole amount is invested from day one.
Banks may round interest each quarter, count days differently, or apply different rates for senior citizens. Use this calculator as a close estimate.