FD Calculator
Fixed deposit maturity value. Calculate the maturity amount and interest earned on a fixed deposit at any rate and tenure.
About the FD Calculator
A fixed deposit pays a contracted rate for a fixed term, so unlike a mutual fund the maturity value is known the day you invest. What varies between banks is not only the rate but the compounding frequency - most Indian banks compound quarterly, which produces a slightly higher effective yield than the headline rate suggests.
Fixed deposit maturity formula
A = P x (1 + r/n)^(n x t)
- A
- Maturity amount
- P
- Principal deposited
- r
- Annual interest rate (as a decimal)
- n
- Compounding periods per year
- t
- Tenure in years
More frequent compounding raises the effective yield. At 7% for five years, quarterly compounding returns noticeably more than annual.
Using this calculator
- Enter the amount you want to deposit.
- Set the interest rate your bank is offering.
- Choose the tenure and how often interest compounds.
- Read the maturity value and the interest component.
FD Calculator FAQs
How is FD interest calculated?
Most Indian banks compound fixed deposit interest quarterly. Interest earned each quarter is added to the principal, so the next quarter earns interest on a slightly larger base. Deposits under six months usually pay simple interest instead.
Is FD interest taxable?
Yes. Interest is added to your total income and taxed at your slab rate. Banks deduct TDS once interest crosses the annual threshold for the depositor category. Submitting Form 15G or 15H can prevent TDS if your total income is below the taxable limit.
What happens if I break an FD early?
Banks typically pay the rate applicable to the period actually completed, then apply a premature-withdrawal penalty of around 0.5% to 1%. You receive less than this calculator projects, so match the tenure to when you will genuinely need the money.
Cumulative or non-cumulative - which should I choose?
Cumulative reinvests interest until maturity and produces the compounding shown here. Non-cumulative pays interest out monthly or quarterly, which suits people who need regular income but forfeits compounding on the amounts paid out.
Are fixed deposits safe?
Bank deposits in India are insured by the DICGC up to Rs 5 lakh per depositor per bank, covering principal and interest together. Amounts above that limit depend on the bank's own strength, so large sums are often split across banks.
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Important: this calculator provides general information and arithmetic only. It is not personal financial, tax or investment advice. Projected returns are illustrations based on the rate you enter, not guarantees, and market-linked investments can fall in value. Verify current tax rates and scheme terms before acting, and consult a qualified adviser where the decision matters.