FD Calculator
Calculate the maturity amount and interest on a fixed deposit with any compounding option.
About the FD Calculator
Enter the deposit, the bank's interest rate, the term in years and months, and how often interest is compounded. The calculator shows the maturity amount, the interest earned and the effective yearly rate, which is what you actually earn once compounding is included.
Indian banks usually compound fixed deposits quarterly, which is why a 7% FD earns about 7.19% a year. For deposits under 6 months, banks commonly pay simple interest instead.
The formula
- A
- maturity amount
- P
- amount deposited
- r
- yearly interest rate as a decimal (7% = 0.07)
- n
- compounding periods a year (4 for quarterly)
- t
- term in years (months ÷ 12)
Worked example
₹1,00,000 for 1 year at 7%, compounded quarterly
- Rate per quarter: 7% ÷ 4 = 1.75%
- A = 1,00,000 × 1.0175⁴ = ₹1,07,185.90
- Interest ₹7,185.90, an effective 7.19% a year
Things to keep in mind
- Before tax. FD interest is added to your income and taxed at your slab rate.
- Banks round interest at each quarter and may count days, so the bank's figure can differ by a few rupees.
- Rates change often; senior citizens usually get 0.25–0.50% more.
Questions people ask
Is FD interest taxable?
Yes, it is added to your income. Banks deduct TDS of 10% (with PAN) when interest from one bank exceeds ₹50,000 in a financial year, or ₹1,00,000 for senior citizens, the limits from 1 April 2025. Submit Form 15G or 15H if your income is below the taxable limit.
Can I break an FD early?
Usually, with a penalty of about 0.5–1% on the rate for the period it actually ran.
Is a cumulative or a payout FD better?
A cumulative FD reinvests interest and compounds, so it pays more at maturity; a payout FD gives monthly or quarterly income instead.