Fixed Deposit Calculator

Calculate maturity amount and interest for fixed deposits

FD Details

Enter FD details and click Calculate

Maturity Amount

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Principal Amount

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Total Interest

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How to Use

  1. Principal Amount — enter the amount you want to deposit (e.g., ₹1,00,000).
  2. Interest Rate — enter the annual FD rate offered by your bank (e.g., 7.25%).
  3. Tenure — enter duration in years, months, or days.
  4. Compounding Frequency — choose quarterly (most common in India), half-yearly, or annually.
  5. FD Type — select Cumulative (interest reinvested) or Non-Cumulative (regular payouts).

What is a Fixed Deposit Calculator?

A Fixed Deposit (FD) Calculator computes the maturity amount and total interest earned on a bank fixed deposit. FDs are the most popular savings instrument in India — guaranteed, predictable, and available at every bank and post office.

How FD Interest is Calculated

Most Indian banks compound FD interest quarterly. The formula is:

A = P × (1 + r/n)^(n×t)

  • P = Principal
  • r = Annual interest rate (as decimal)
  • n = Number of compounding periods per year (4 for quarterly)
  • t = Time in years

Example: ₹1,00,000 at 7.5% p.a. compounded quarterly for 3 years = ₹1,25,127 (interest earned: ₹25,127).

Cumulative vs Non-Cumulative FD

Cumulative FD: Interest is not paid out — it is added to the principal and compounds. The full maturity amount (principal + compounded interest) is paid at the end. Best for wealth creation.

Non-Cumulative FD: Interest is paid out at regular intervals — monthly, quarterly, half-yearly, or annually. Best for generating regular income (popular with retirees).

FD vs. PPF vs. Mutual Funds — When to Choose FD

FD interest is taxable as "Income from Other Sources" at your applicable slab rate. This makes FDs less tax-efficient than PPF for high earners. However, FDs win on liquidity (premature withdrawal is allowed with a penalty), flexibility (any tenure from 7 days to 10 years), and simplicity. For short-to-medium term goals (1–5 years), FDs are often the right choice.

Frequently Asked Questions

Yes. FD interest is added to your income and taxed at your applicable slab rate. Banks deduct TDS at 10% if interest exceeds ₹40,000 per year (₹50,000 for senior citizens). If your income is below the taxable limit, submit Form 15G (individuals) or Form 15H (seniors) to avoid TDS.

₹5 lakh per depositor per bank — covering both principal and interest across all accounts in that bank. If you have ₹8 lakh in one bank and it fails, only ₹5 lakh is protected. Spread large deposits across multiple banks or go with India Post (government-guaranteed, no cap).

Yes — premature withdrawal is allowed at most banks but attracts a penalty of 0.5–1% lower interest rate. Some tax-saving FDs (5-year) cannot be broken prematurely. Check your bank's terms before opening.

Small finance banks (SFBs) typically offer 8–9.5% for regular depositors and up to 9.5–10% for senior citizens. However, DICGC cover still applies only up to ₹5 lakh. Public sector banks (SBI, Bank of Baroda) offer 6.5–7.5%. India Post FDs offer 6.9–7.5% with full government backing.

Cumulative FD: interest compounds and is paid at maturity — you get more because interest earns interest. Non-cumulative FD: interest is paid at regular intervals (monthly, quarterly, half-yearly, annually) — preferred by retirees needing regular income.

Bank FDs use compound interest, typically compounded quarterly. Post Office FDs also compound quarterly. The formula is A = P × (1 + r/n)^(n×t). This calculator lets you choose the compounding frequency so you can compare exactly.

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