About the FD Calculator
A fixed deposit (FD) locks your money with a bank for a set period at a fixed interest rate. This FD calculator shows the maturity value and the interest earned. Most Indian banks compound FD interest quarterly, which is the default here.
How to use this calculator
- Enter the deposit amount.
- Enter the interest rate offered by your bank.
- Choose the tenure in years and the compounding frequency.
- See the maturity amount and the interest earned each year.
Formula
Maturity = P × (1 + r/f)^(f × t), where P is the deposit, r is the annual rate, f is the number of compounding periods a year and t is the tenure in years.
Example
₹1,00,000 in an FD at 7% for 5 years, compounded quarterly, matures at about ₹1,41,478, earning about ₹41,478 in interest.
Frequently asked questions
Is FD interest taxable?
Yes. FD interest is added to your income and taxed at your slab rate, and the bank may deduct TDS above a threshold.
Do senior citizens get higher FD rates?
Most banks offer senior citizens a slightly higher rate. Enter the rate your bank offers you.
What is the difference between cumulative and payout FDs?
A cumulative FD reinvests interest and pays it at maturity, which is what this calculator shows. A payout FD pays interest out regularly, so it does not compound.
These results are estimates for illustration and education only, not investment advice.