FD Calculator

What Is an FD Calculator?

A fixed deposit (FD) locks money with a bank for a set period at a fixed interest rate. This calculator shows the maturity value and the interest earned, with the compounding most Indian banks use (quarterly), or monthly, half-yearly, yearly or simple interest for payout FDs.

How to Use It

1. Enter the deposit amount and the bank's interest rate.
2. Enter the tenure in years, months or days.
3. Choose how often interest is compounded - quarterly unless your bank says otherwise.

Example

A deposit of ₹2,00,000 at 7.25% for 3 years, compounded quarterly, matures at about ₹2,48,109, earning ₹48,109 in interest. Because interest is added every quarter, the effective yearly yield is 7.45% - higher than the 7.25% headline rate.

The Formula

Maturity = P × (1 + r ÷ n)^{n × t}, where P is the deposit, r the yearly rate, n the number of compounding periods per year (4 for quarterly) and t the tenure in years. For deposits shorter than six months, many banks pay simple interest, which the calculator applies automatically for tenures entered in days.

Tax and TDS on FD Interest

FD interest is added to your income and taxed at your slab rate. Banks deduct TDS when interest from one bank crosses the yearly threshold set by the Income Tax Act; you can submit Form 15G or 15H if your total income is below the taxable limit. The maturity shown here is before tax.

Limitations

Banks sometimes round interest differently or use a 365-day year for the last part of a tenure, so the bank's figure can differ by a few rupees. Senior citizen rates, penalties for breaking an FD early and tax are not included. For monthly deposits, use the RD Calculator; to compare with simple interest, use the Simple Interest Calculator.