Fixed Deposit Calculator

A fixed deposit locks a lump sum with a bank for a fixed tenure at a fixed interest rate — the safest mainstream investment in India, with returns known on day one. This calculator tells you exactly what you'll receive at maturity: enter the deposit, the advertised rate, the tenure, and how often the bank compounds interest.

Compounding frequency matters more than most depositors realise. The formula is M = P × (1 + r/m)^(m×t), where m is the number of compounding periods per year. Most Indian banks compound quarterly, which makes the effective annual yield slightly higher than the headline rate — a 7% FD compounded quarterly actually yields about 7.19% a year. The calculator lets you switch frequency so you can compare bank offers like-for-like.

Use it to plan ladders too: instead of one large FD, split the amount across tenures of 1–5 years so a deposit matures regularly, giving liquidity without breaking an FD early (which usually costs a 0.5–1% penalty on the rate). Remember that FD interest is fully taxable at your slab rate, and banks deduct TDS at 10% once interest crosses ₹40,000 a year (₹50,000 for senior citizens) — factor that into post-tax comparisons with debt funds.