Fixed Deposit Calculator
Free fixed deposit calculator for Indian banks. Enter deposit, interest rate, tenure and compounding frequency to see FD maturity amount and interest earned.
About the Fixed Deposit Calculator
A fixed deposit calculator tells you the exact maturity amount and total interest of an FD for any deposit, rate, tenure and compounding frequency (monthly, quarterly, half-yearly or yearly).
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.
How to use the Fixed Deposit Calculator
- Enter your basic details in the fields provided.
- Select the appropriate options from the dropdowns.
- View your precise calculation results instantly.
Worked example
₹1,00,000 at 7% for 5 years with quarterly compounding → maturity ₹1,41,477.82, interest ₹41,477.82.
Formula
M = P × (1 + r/m)^(m×t), where P is the deposit, r the annual rate (÷ 100), m the compounding periods per year and t the tenure in years.Frequently asked questions
- How do banks compound FD interest?
- Most Indian banks compound quarterly. Interest earned each quarter is added to the principal, and the next quarter's interest is calculated on the higher amount — which is why the effective yield beats the headline rate.
- Is FD interest taxable?
- Yes, fully, at your income-tax slab rate. Banks deduct 10% TDS when your interest across deposits exceeds ₹40,000 in a year (₹50,000 for senior citizens). You can submit Form 15G/15H if your total income is below the taxable limit.
- What happens if I break an FD early?
- The bank recalculates interest at the rate applicable for the period the deposit actually ran, usually minus a 0.5–1% premature-withdrawal penalty. Laddering several smaller FDs avoids this.
- Is my financial data secure?
- Absolutely. All calculations happen entirely in your browser and none of your inputs are saved or sent to any server.
- Can I use this for official tax filing?
- While highly accurate for planning and estimation, always consult your CA or tax professional for final official filings.
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