FD Calculator
A fixed deposit (FD) pays a fixed interest rate on a lump sum for a fixed period. Many banks compound the interest every quarter, which means interest is added to the balance four times a year and then earns interest itself.
FD Calculator
Example values are shown to start with. Change them to your own numbers. Everything is calculated in your browser.
This calculator shows the maturity amount and the interest earned for a cumulative fixed deposit. You can change the compounding frequency to match your bank's terms, and compare tenures or rates before you commit.
Worked example
With the starting values below, the calculator gives the results in the second table.
| Deposit | ₹1,00,000 |
|---|---|
| Interest rate | 7% |
| Years | 5 |
| Compounding per year | 4 |
| Maturity amount | ₹1,41,477.82 |
|---|---|
| Interest earned | ₹41,477.82 |
How to use this calculator
- Enter the amount you will deposit.
- Enter the annual interest rate offered by the bank.
- Enter the tenure in years.
- Enter how many times a year the interest is compounded: 4 for quarterly, 12 for monthly, 1 for yearly.
- Read the maturity amount and the interest earned.
Formula
- P is the deposit.
- r is the annual interest rate as a decimal.
- n is the number of times interest is compounded each year.
- t is the tenure in years.
Assumptions
- The deposit is cumulative: interest is reinvested and paid at maturity.
- The rate is fixed for the whole tenure.
Limitations
- Interest on a fixed deposit is taxable under the rules that apply to you, and tax deducted at source is not modelled.
- Premature withdrawal penalties, senior-citizen rates and non-cumulative payout options are not included.
Frequently asked questions
How is FD maturity amount calculated?
Maturity amount = P × (1 + r ÷ n)ⁿᵗ. P is the deposit, r the annual rate as a decimal, n the compounding periods per year and t the years.
Does quarterly compounding give more than yearly?
Yes, slightly. More frequent compounding adds interest to the balance sooner, so the maturity amount is a little higher at the same stated rate.
Is FD interest taxable?
Interest from a fixed deposit is generally taxable as income. Check the current rules or ask a tax professional.
Does the result include TDS?
No. The result is before any tax deducted at source.
Related calculators
- PPF CalculatorEstimate the maturity value of a Public Provident Fund account.
- RD CalculatorMaturity amount of a recurring deposit with monthly instalments.
- Simple Interest CalculatorInterest and total amount when interest is not compounded.
Sources and method
This is the standard compound interest formula. See how our calculators work.
Results are estimates for planning only and are not financial, tax or legal advice. Rates, rules and your own circumstances can change the outcome. Read our disclaimer.