Fixed and recurring deposits differ in how money goes in — one lump sum against monthly instalments — which changes the maturity value considerably for the same nominal rate.
Quarterly compounding for FD; monthly contribution for RD.
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For an FD, compound the principal at the quoted rate and compounding frequency over the tenure.
For an RD, each monthly instalment compounds for a different remaining period, so earlier instalments earn more.
Quarterly compounding is the common bank default and yields slightly more than annual.
₹5,00,000 for 5 years at 7% compounded quarterly matures at roughly ₹7,07,000.
Yes, at your slab rate, in the year it accrues. Banks deduct TDS above the threshold, but TDS is not the whole liability — you still declare the interest.
An FD if you have a lump sum. An RD if you are saving monthly out of income. For the same rate an FD earns more, because the full amount is invested from day one.
Garuda HR looks after payroll, attendance, leave and statutory compliance for Indian teams — the same arithmetic, run for you every month, with a full audit trail. We would be glad to show you around.