FD Calculator
Work out what your fixed deposit will be worth at maturity, or how much interest it will pay you each month or quarter. Enter the amount, the rate your bank offers and the tenure.
More options: tax on interest
₹5,00,000 at 7% for 5 years grows to ₹7,07,389, earning ₹2,07,389 in interest. Interest in the first year is about ₹35,930, within the ₹50,000 TDS limit for one bank.
Cumulative FDs assume quarterly compounding. Banks may pay simple interest on deposits shorter than six months, and rates differ by bank and tenure. FD interest is taxed every year at your slab rate, even if you receive it only at maturity.
Year-by-year growth
| Year | Interest earned | Balance |
|---|---|---|
| 1 | ₹35,930 | ₹5,35,930 |
| 2 | ₹38,511 | ₹5,74,441 |
| 3 | ₹41,279 | ₹6,15,720 |
| 4 | ₹44,245 | ₹6,59,965 |
| 5 | ₹47,424 | ₹7,07,389 |
What is an FD calculator?
A fixed deposit (FD) locks a sum of money with a bank for a fixed period at a fixed interest rate. An FD calculator shows what the deposit will be worth at the end and how much interest you will earn. Choose interest at maturity(a cumulative FD, where interest is added to the deposit and earns interest itself) or a monthly or quarterly payout(a non-cumulative FD, where interest is paid into your account and the deposit stays the same).
How FD interest is calculated
Indian banks compound cumulative FDs every quarter:
Maturity value = P × (1 + r ÷ 400)4 × t
- P = amount deposited
- r = annual interest rate in %
- t = tenure in years
Worked example
₹5,00,000 at 7% a year for 5 years, interest at maturity:
- Quarterly rate = 7 ÷ 400 = 0.0175, and the number of quarters = 4 × 5 = 20
- Maturity value = 5,00,000 × (1.0175)20 = ₹7,07,389
- Interest earned = ₹2,07,389
Simple interest at 7% would give only ₹1,75,000, so quarterly compounding adds ₹32,389. It also means the effective yield is 7.19% a year, slightly higher than the 7% headline rate.
Tax and TDS on FD interest
- Interest is taxed every year at your income-tax slab rate, even if a cumulative FD pays it only at maturity. In the example above, at the 30% slab plus cess, about ₹64,705 of the ₹2,07,389 interest would go in tax, leaving about ₹1,42,684.
- TDS: the bank deducts 10% (20% without PAN) when your interest from that bank crosses ₹50,000 in a financial year, or ₹1 lakh for senior citizens. TDS is not extra tax: it is adjusted against your final tax when you file your return.
- Form 15G / 15H: if your total income is below the taxable limit, submit Form 15G (below 60) or Form 15H (60 and above) to the bank to avoid TDS.
- Tax-saving FDs (5-year lock-in) qualify for the Section 80C deduction of up to ₹1.5 lakh, in the old tax regime only.
FD rates
FD rates differ between banks and tenures and change often, especially after the RBI moves the repo rate (raised to 5.50% on 7 October 2026). Small finance banks often pay more than large banks. Check your bank’s current rate for your tenure and enter it in the calculator; senior citizens usually get 0.25% to 0.50% extra.
When to use a different calculator
- Saving a fixed amount every month instead? Use the RD Calculator.
- Comparing with tax-free PPF? Use the PPF Calculator.
- Comparing FD with mutual funds? Read FD vs SIP returns.
- Working out tax deducted at source? Use the TDS Calculator.
