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Free FD Calculator

Enter your deposit, the bank's interest rate and the tenure to see the maturity amount and the interest you'll earn. Choose a cumulative FD, where interest is reinvested, or a monthly or quarterly payout, and see how the deposit grows year by year.

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  • No sign-up
  • Instant results
  • Nothing leaves your device

Your deposit

The amount, the bank's rate and how long you'll keep it.

% a year

The rate your bank offers for this tenure.

years
months

Optional, on top of the years.

How interest is paid

Interest payout
Compounding

Most Indian banks compound FD interest every quarter.

Results

Maturity amount

₹0

Enter the deposit, rate and tenure

At maturity
ItemAmount
Deposit₹0
Interest earned₹0
Maturity amount₹0
Deposit vs interest
  • Deposit₹0
  • Interest₹0

Good to know

  • FD interest is taxable at your slab rate, and banks deduct TDS once your interest crosses the yearly threshold. If your total income is below the taxable limit, you can ask the bank not to deduct it by giving a self-declaration.
  • Senior citizens usually get around 0.25% to 0.5% more. Rates here are examples: check the current rate with your bank.

Saving monthly? Try the RD calculator.

Try the RD calculator

Year by year

How the deposit grows at 0%, compounded every quarter.

Enter the deposit, rate and tenure to see how it grows.

How it works

  1. 1

    Enter the deposit

    The amount, the yearly rate your bank offers and the tenure in years and months.

  2. 2

    Choose the payout

    Cumulative (interest reinvested and paid at maturity), or interest paid out every month or quarter.

  3. 3

    See what you'll get

    The maturity amount or the regular payout, total interest and a year-by-year table.

Features

How FD interest is calculated

In a cumulative fixed deposit, interest is added to the deposit at regular intervals and then earns interest itself. Most Indian banks compound FD interest every quarter. The maturity amount is A = P × (1 + r/n)^(n × t), where P is the deposit, r the yearly rate ÷ 100, n the number of times interest is compounded a year (4 for quarterly) and t the tenure in years.

For example, ₹1 lakh at 7% for 5 years, compounded quarterly, matures at about ₹1,41,478, so you earn about ₹41,478 in interest. Compounded yearly, it would be about ₹1,40,255: the more often interest is added, the more you earn, though the difference is small.

With a monthly or quarterly payout FD, interest is paid into your account instead of being reinvested, so the deposit doesn't grow. A ₹5 lakh FD at 7% pays about ₹2,917 a month or ₹8,750 a quarter. Some banks pay slightly less for monthly payouts, because they discount the quarterly interest for paying it early. Payout FDs suit people who want a regular income, such as retirees.

Tax, TDS and senior citizen rates

FD interest is fully taxable and is added to your income at your slab rate, whether you take it as a payout or at maturity. Banks deduct TDS once the interest you earn from them in a year crosses a threshold (the threshold is higher for senior citizens). If your total income is below the taxable limit, you can give the bank a self-declaration so it doesn't deduct TDS. Any TDS deducted counts towards your tax when you file your return.

Senior citizens usually get around 0.25% to 0.5% more than the standard rate. Tax-saver FDs, with a 5-year lock-in, can qualify for a deduction under the old tax regime. Rates vary by bank and tenure and change often, so check the current rate with your bank before you invest.

FD or RD?

An FD suits a lump sum you already have. If you'd rather save a fixed amount every month, a recurring deposit (RD) works the same way but with monthly instalments, and our RD calculator shows what it adds up to. For long-term goals where you can accept market ups and downs, some people also compare FDs with a PPF account or a mutual fund SIP.

Bank deposits are insured by DICGC up to ₹5 lakh per depositor in each bank, including interest. Breaking an FD early usually means a lower rate than you were promised, so pick a tenure you're comfortable with.

Frequently asked questions

How is FD maturity calculated?

Maturity = deposit × (1 + rate ÷ n)^(n × years), where n is how often interest is compounded each year: 4 for quarterly. ₹1 lakh at 7% for 5 years with quarterly compounding gives about ₹1,41,478.

Do banks compound FD interest quarterly?

Most Indian banks do, for cumulative deposits. Some deposits, such as short FDs of under six months, pay simple interest at maturity. Check your bank's terms for the exact method.

What's the difference between cumulative and payout FDs?

In a cumulative FD, interest is reinvested and paid with the deposit at maturity, so it compounds. In a payout FD, interest is paid to you every month or quarter and the deposit stays the same, so you earn a little less overall but get a regular income.

Is TDS deducted on FD interest?

Yes, once your interest from a bank in a year crosses the TDS threshold, which is higher for senior citizens. If your income is below the taxable limit, you can submit a self-declaration to the bank to avoid TDS.

Do senior citizens get a higher FD rate?

Usually yes, around 0.25% to 0.5% more than the regular rate, depending on the bank and tenure. Enter the senior citizen rate in the interest rate field to see the difference.

Will my bank's figure match exactly?

It should be very close. Banks may round interest at each credit, count days differently or pay simple interest for part periods, so the final rupee or two can differ.

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