FD Calculator

Fixed deposit maturity. Principal, rate and tenure. Annual compounding.

Gratuity PPF EPF / PF EMI SIP FD NPS Income Tax HRA

Principal (₹)

₹

Interest rate (p.a.) %

Tenure

yrs

FD maturity

Interest earned₹ 40,255

Maturity amount₹ 1,40,255

Maturity = Principal × (1 + rate/100)^years. Assumes annual compounding. Bank rates may vary.

A Fixed Deposit (FD) is one of the safest investment options in India. You deposit a lump sum with a bank or NBFC for a fixed period at a pre-decided interest rate. At maturity, you receive the principal plus accumulated interest.

What is this calculator?

An FD Calculator estimates the maturity amount of your fixed deposit. Enter the deposit amount, interest rate offered by your bank, and the tenure. The calculator shows you the interest earned and the total maturity value.

Formula

For annual compounding:

Maturity = P × (1 + r)^t

For quarterly compounding (most banks use this):

Maturity = P × (1 + r/4)^(4×t)

Where P = principal, r = annual rate (decimal), t = tenure in years.

This calculator uses annual compounding for simplicity. Quarterly compounding yields slightly higher returns.

Example

Principal: ₹5,00,000, Rate: 7% p.a., Tenure: 5 years. With annual compounding: Maturity = 5,00,000 × (1.07)^5 = ₹7,01,276. Interest earned = ₹2,01,276. With quarterly compounding: Maturity = 5,00,000 × (1.0175)^20 = ₹7,09,140. Interest earned = ₹2,09,140 (₹7,864 more due to quarterly compounding).

Benefits

✓Guaranteed returns: interest rate is fixed at the time of deposit.
✓DICGC insures bank FDs up to ₹5 lakh per depositor per bank.
✓Flexible tenures: 7 days to 10 years.
✓Senior citizens get 0.25–0.5% extra interest at most banks.

Frequently Asked Questions

Is FD interest taxable?: Yes. FD interest is fully taxable as 'Income from Other Sources' at your income tax slab rate. Banks deduct TDS at 10% if annual interest exceeds ₹40,000 (₹50,000 for senior citizens). Submit Form 15G/15H if your total income is below the taxable limit.
Can I break an FD before maturity?: Yes, premature withdrawal is usually allowed with a penalty of 0.5–1% on the interest rate. Some banks offer no-penalty FDs at slightly lower rates.
What is a tax-saver FD?: A 5-year tax-saver FD qualifies for Section 80C deduction up to ₹1.5 lakh per year. However, it has a 5-year lock-in and cannot be broken prematurely.
FD vs PPF vs Debt mutual funds?: FD: guaranteed returns, taxable interest, flexible tenure. PPF: tax-free, 15-year lock-in, ~7.1%. Debt funds: market-linked, tax-efficient (indexation benefit was available earlier), more flexible. Choose based on lock-in tolerance and tax situation.
Should I choose cumulative or non-cumulative FD?: Cumulative FD pays all interest at maturity (compounding benefit). Non-cumulative pays interest monthly/quarterly, useful if you need regular income. For wealth building, cumulative is better.

This calculator uses annual compounding. Most banks compound quarterly, so actual maturity may be slightly higher. Check with your bank for exact rates.