FD Calculator
Calculate the maturity value of your fixed deposit, total interest earned, and effective annual yield. Compare compounding frequencies and see post-tax returns at your income tax slab.
Deposit details
Deposit amount & rate
Tenure
Options
Projected maturity
Maturity amount
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Principal vs. interest earned
Balance growth over time
Period-wise growth
| Period | Value | Interest | Return % |
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This calculator provides an indicative projection based on a constant interest rate. Actual fixed deposit returns depend on the bank's terms, compounding convention, tax deducted at source, and any penalties. Please verify with your bank before booking a deposit.
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FD Calculator: Calculate Fixed Deposit Interest and Maturity Amount
An FD calculator helps you estimate the maturity amount and interest earned on a fixed deposit in India. Enter your deposit amount, annual interest rate and investment tenure in the calculator above to understand how much your fixed deposit could be worth at maturity.
A fixed deposit allows you to invest a lump sum for a specified period at an agreed interest rate. Banks and other eligible deposit-taking institutions offer different tenure options, interest payout arrangements and rates. Your actual maturity proceeds depend on the terms of the specific deposit.
It estimates the interest earned and the total amount payable at maturity using the deposit amount, interest rate, tenure and compounding assumptions. The result is an illustration. Always check the bank's deposit receipt and applicable terms for the actual maturity value.
How Does an FD Calculator Work?
An FD calculator uses the principal amount, annual interest rate and investment period to estimate the value of your deposit. The method depends on whether interest is compounded and reinvested or paid out periodically.
Cumulative Fixed Deposit
In a cumulative FD, interest is accumulated and reinvested according to the bank's terms. The principal and accumulated interest are generally paid at maturity.
- Invest a one-time deposit amount.
- Select the applicable interest rate and tenure.
- Interest compounds according to the deposit terms.
- Receive the maturity proceeds at the end of the tenure.
Non-Cumulative Fixed Deposit
In a non-cumulative FD, interest is paid at the selected periodic interval rather than being accumulated until maturity. Available payout frequencies depend on the institution and product.
- Invest a lump sum for the selected tenure.
- Choose an eligible interest payout frequency.
- Receive interest periodically as specified in the terms.
- Generally receive the principal at maturity.
A calculator designed for cumulative deposits may not accurately represent periodic interest payouts. Select the calculation method that matches your FD before using the result for financial planning.
Fixed Deposit Calculator Formula
For a fixed deposit with quarterly compounding, the estimated maturity value can be calculated using the following standard compound-interest formula. This is a simplified model and may not exactly match every bank's calculation method.
A is the estimated maturity amount, P is the initial deposit, r is the annual interest rate expressed as a percentage, and t is the tenure in years. The formula assumes quarterly compounding for a whole number of years.
Subtract the original deposit from the estimated maturity amount to calculate the projected interest earned. This calculation does not automatically account for tax, premature-closure penalties or other charges.
How to Use the FD Calculator
Follow these steps to estimate your fixed deposit maturity value and interest earnings.
Enter the Deposit Amount
Enter the lump sum you intend to invest. This is the principal amount on which the institution calculates interest according to the deposit terms.
Enter the Interest Rate
Use the annual interest rate applicable to your deposit. Confirm the rate for your chosen tenure and depositor category before calculating.
Select the Deposit Tenure
Choose how long you intend to keep the money invested. FD tenures vary by institution, so check the available terms before making a deposit.
Review the Maturity Amount
Review the estimated principal, interest earned and maturity amount. Compare different rates and tenures to understand how the assumptions affect your result.
Types of Fixed Deposits in India
Fixed deposits differ in how interest is paid, who can open them and how funds can be accessed. Understanding the main options helps you select a deposit suited to your savings needs.
Regular Fixed Deposit
A regular FD allows an eligible customer to deposit a lump sum for a specified tenure. The institution determines the available interest rates, minimum deposit and other terms.
Senior Citizen FD
Some institutions offer additional interest rates or specific products for eligible senior citizens. Eligibility, the extra rate and the applicable tenure depend on the institution's terms.
Tax-Saving Fixed Deposit
Eligible bank tax-saving FDs generally have a five-year lock-in period. Potential tax deductions depend on current tax law, the chosen tax regime and the depositor's eligibility. Interest may still be taxable.
Corporate Fixed Deposit
Some companies and non-banking financial institutions accept deposits under applicable regulations. Their rates and terms differ from bank FDs, and bank deposit insurance does not cover deposits raised by NBFCs.
FD vs Savings Account vs Recurring Deposit
These deposit options serve different purposes. A fixed deposit typically locks a lump sum for an agreed tenure, a savings account supports day-to-day access, and a recurring deposit allows regular contributions over time.
| Feature | Fixed Deposit | Savings Account | Recurring Deposit |
|---|---|---|---|
| Contribution | Usually a lump sum | Deposits as needed | Regular instalments |
| Tenure | Specified term | Generally no fixed investment term | Specified term |
| Interest method | Depends on payout and compounding terms | Based on account rules | Calculated on instalments as they accumulate |
| Access to funds | Premature closure may affect interest or attract a penalty | Generally designed for regular access | Premature closure is subject to product terms |
| Typical purpose | Investing an available lump sum | Everyday transactions and cash reserves | Building savings through regular deposits |
The most suitable option depends on your cash-flow needs, required access to money, investment period and the terms available from your institution. Compare the actual product conditions rather than selecting an account based only on its advertised rate.
What Affects FD Interest and Maturity Value?
Your FD maturity amount depends on several factors. Even when the principal is unchanged, a different rate, tenure or interest payment method can alter the final proceeds.
Principal Amount
The principal is the original amount deposited. Under the same rate, tenure and compounding assumptions, a larger principal generally produces a larger interest amount.
Annual Interest Rate
The contracted rate determines how interest is calculated. Rates can vary by institution, tenure, deposit size, customer category and the date on which the deposit is booked. Verify the applicable rate before investing.
Investment Tenure
A longer tenure can increase the total interest earned when the applicable rate and calculation assumptions support that result. However, the highest rate may not be offered for the longest available term. Compare the rates and conditions across relevant tenures.
Compounding Frequency
For a cumulative FD, interest that is reinvested can itself earn interest. More frequent compounding can change the calculated value when the nominal rate and other assumptions are identical. Banks follow their contractual calculation and payout rules.
Interest Payout Choice
A cumulative FD accumulates interest toward maturity, while a non-cumulative FD pays interest at agreed intervals. Periodic payments should not be confused with compounded maturity value because paid-out interest is not necessarily reinvested.
Is FD Interest Taxable in India?
Interest earned from a fixed deposit is generally taxable under the applicable income-tax rules. The amount of tax you ultimately pay depends on your total taxable income, applicable tax regime, eligible reliefs and other circumstances.
Tax Deducted at Source (TDS)
A bank or other eligible institution may deduct TDS from interest when the applicable legal conditions and thresholds are met. TDS is a tax credit against your final tax liability; it does not necessarily represent the full tax due on the interest.
Tax-Saving FD Does Not Mean Tax-Free Interest
An eligible tax-saving bank FD may qualify for a deduction under the applicable provisions and conditions. That does not automatically exempt the interest earned from tax. Eligibility for a deduction also depends on the tax regime and current law.
Calculate Your Net Returns
A standard FD calculator usually estimates interest before tax unless it specifically includes tax-related inputs. To estimate what you will retain, account for any applicable tax on interest and other relevant deductions or charges separately.
What to Check Before Opening an FD
- Compare contracted rates: Confirm the annual rate available for your selected tenure, deposit size and customer category.
- Check premature-closure conditions: Early withdrawal may result in a lower applicable interest rate or a penalty under the product terms.
- Choose the payout method: Decide whether you need periodic interest income or prefer a cumulative deposit that pays at maturity.
- Understand renewal instructions: Confirm whether the deposit automatically renews, which rate may apply on renewal and how to change the maturity instructions.
- Consider deposit protection: Eligible deposits at insured banks are covered by DICGC up to ₹5 lakh per depositor per insured bank, including principal and interest, subject to the applicable aggregation and ownership rules. Deposits across different branches of the same bank are aggregated.
- Account for inflation and tax: Compare the amount you expect to retain after relevant taxes with the future purchasing power of that money.
Frequently Asked Questions
1. What is an FD calculator?
An FD calculator estimates the interest earned and maturity amount of a fixed deposit using the deposit principal, interest rate, tenure and selected calculation assumptions.
2. How is FD maturity calculated?
Maturity is calculated using the principal and interest accumulated over the tenure. The result depends on the interest rate, compounding method, payout option and the institution's deposit terms.
3. Is fixed deposit interest compounded monthly or quarterly?
It depends on the institution and product. Some cumulative bank deposits compound interest quarterly, while other payout arrangements may use different calculation and payment schedules.
4. Is FD interest taxable?
FD interest is generally taxable under applicable income-tax rules. The tax payable and any TDS depend on your circumstances and the current legal requirements.
5. Can I withdraw my FD before maturity?
Premature withdrawal is often possible subject to the product terms. The institution may apply a lower rate or a penalty, so check the conditions before closing the deposit.
6. Is a senior citizen FD always better?
Not necessarily. Some institutions offer eligible senior citizens additional interest, but compare the actual rate, tenure, withdrawal conditions and other terms before choosing.
7. What is the difference between cumulative and non-cumulative FD?
A cumulative FD accumulates interest toward maturity, while a non-cumulative FD pays interest periodically. The appropriate choice depends on whether you need regular income or a maturity payout.
8. Is the FD calculator's maturity amount guaranteed?
The calculator provides an estimate based on your inputs. Confirm the actual contracted rate, maturity date, compounding terms and payout conditions with the institution holding your deposit.
Disclaimer: This FD calculator guide is for informational purposes only. Calculated maturity amounts are estimates and may differ from the amounts paid by a bank or other deposit-taking institution. Actual interest depends on the contracted rate, tenure, compounding rules, payout method, premature withdrawal terms and applicable taxes. Verify all deposit terms before investing.