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FD Calculator – Fixed Deposit Maturity Amount & Interest

Find out how much your fixed deposit will be worth at maturity, how much interest you will earn and how it grows each year. Free, private and instant.

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How to use the FD calculator

  1. Enter the deposit amount.
  2. Enter the interest rate per year offered by your bank.
  3. Enter the deposit period in years, months and days (for example 1 year 6 months).
  4. Choose how often interest is compounded — quarterly for most banks.
  5. Read the maturity amount, the interest earned and the effective yield. The table shows the balance at the end of each year.

How fixed deposit interest is calculated

In a cumulative FD, interest is added to your deposit at each compounding period, and the next period’s interest is calculated on the bigger amount:

Maturity = P × (1 + r ÷ n)^(n × t)
  • P = amount deposited
  • r = interest rate per year as a decimal (7% = 0.07)
  • n = compounding periods per year (4 for quarterly)
  • t = time in years

Example: ₹1 lakh for 5 years at 7%

With quarterly compounding:

  • Maturity ≈ ₹1,41,478
  • Interest earned ≈ ₹41,478
  • Effective yield ≈ 7.19% a year

If the same deposit were compounded only yearly, it would grow to about ₹1,40,255 — about ₹1,200 less. More frequent compounding means slightly more interest.

Short deposits

For deposits under six months, many banks pay simple interest instead of compounding. When you enter a short period, the calculator also shows what you would get with simple interest, so you can compare with your bank’s quote.

Tips for fixed deposits

  • Compare rates across banks. Small finance banks and cooperative banks may offer higher rates, but check that deposits are covered by DICGC insurance (currently up to a limit per depositor, per bank) and spread large amounts sensibly.
  • Senior citizens often get an extra rate on FDs — ask your bank.
  • Ladder your deposits. Splitting money into FDs that mature at different times keeps some cash available without breaking a deposit early.
  • Premature withdrawal usually reduces the interest you get. Read the penalty terms before you invest.
  • Account for tax. FD interest is taxable, so your real return after tax is lower than the rate shown.

Who uses an FD calculator

  • Savers comparing FD rates between banks.
  • Retired people planning regular income from deposits.
  • Families setting aside money for a known future expense, such as fees due next year.
  • Investors comparing a safe FD with market-linked options like a SIP.

Results are estimates before tax. Please read our disclaimer.

Frequently asked questions

How is FD maturity amount calculated?

For a cumulative FD, interest is added to the deposit at every compounding period and earns interest itself. Maturity = P × (1 + r ÷ n)^(n × t), where P is the deposit, r the yearly rate as a decimal, n the number of compounding periods per year and t the time in years.

How often do banks compound FD interest?

Most banks in India compound fixed deposit interest quarterly (every three months). Some products compound monthly, half-yearly or yearly — check your bank’s terms and pick the same option in the calculator.

Why does my bank show a slightly different amount?

Banks count exact days, may use a 365-day year, and often pay simple interest on deposits shorter than six months. Rounding and the exact start date can also make a small difference. Your FD receipt shows the final maturity amount.

What is the effective yield?

It is the yearly return after compounding. 7% compounded quarterly works out to about 7.19% a year, because interest added each quarter also earns interest. It helps compare FDs with different compounding.

Is FD interest taxable?

Yes. FD interest is added to your income and taxed at your slab rate. Banks may deduct TDS when interest crosses a yearly limit. The calculator shows interest before tax — check the current TDS limits and tax rules for your situation.

What about non-cumulative FDs that pay interest monthly or quarterly?

A non-cumulative FD pays out the interest instead of adding it to the deposit, so it does not compound and the maturity amount is just your original deposit. This calculator is for cumulative (reinvestment) FDs.

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