FD Calculator

See what your fixed deposit will be worth at maturity and how much interest it will earn, for any interest rate, tenure and compounding frequency.

FD maturity formula

Most Indian banks compound fixed deposit interest quarterly. The maturity value of a cumulative FD is:

A = P × (1 + r ÷ n)^(n × t) P = deposit, r = annual rate (decimal), n = compounding periods per year, t = years Effective annual yield = (1 + r ÷ n)^n − 1

Example

₹1,00,000 for 3 years at 7% compounded quarterly grows to about ₹1,23,144, earning ₹23,144 in interest. The effective annual yield is 7.19%, slightly more than the headline rate because of quarterly compounding.

Cumulative vs payout FDs

In a cumulative FD, interest is reinvested and paid at maturity, and that is what this calculator shows by default. In a payout FD, interest is paid monthly or quarterly and does not compound. Choose "Simple interest" to see the total interest from a payout FD. Deposits shorter than 6 months are also usually on simple interest.

Tax on FD interest

FD interest is added to your income and taxed at your slab rate under both tax regimes.
Banks deduct TDS when interest crosses the yearly threshold. Senior citizens have a higher threshold, and you can submit Form 15G/15H if your income is below the taxable limit.
A 5-year tax-saver FD qualifies for a deduction under the old regime, but it has a lock-in.

Frequently asked questions

How often do banks compound FD interest?

Most Indian banks compound quarterly. Some small finance banks and NBFCs compound monthly or yearly, so check your deposit receipt.

Is FD interest calculated on the full tenure at once?

Interest accrues every compounding period. Banks credit it to the FD balance (cumulative) or pay it out (payout FD), and report it for tax each year even if you receive it only at maturity.

What happens if I break my FD early?

Banks usually pay the rate applicable for the period the deposit actually ran, minus a penalty (often 0.5–1%). Your maturity amount will be lower than shown here.

Results are estimates for information only and are not financial, tax or investment advice. Rates and rules change, so confirm figures with your bank, employer or a qualified professional before making decisions.