FD Calculator
Calculate fixed deposit maturity amount and interest earned with quarterly compounding — works for SBI, HDFC, ICICI, Post Office and all bank FDs.
About the FD Calculator
This FD calculator shows the maturity amount and total interest for any fixed deposit. Enter the deposit amount, the interest rate quoted by your bank and the tenure in years, months or days — the result updates instantly with Indian rupee formatting. Quarterly compounding is preselected because that is the convention used by SBI, HDFC, ICICI, Axis and most Indian banks, but you can switch to monthly, half-yearly or yearly.
The maths follows the standard compound-interest formula A = P × (1 + r/m)^(m×t). A ₹1,00,000 FD at 7.25% for 5 years with quarterly compounding matures to about ₹1,43,254 — over ₹2,000 more than simple interest would give, because every quarter's interest starts earning interest itself.
Bank FD rates in India typically range from about 6% to 7.75% depending on tenure and bank, with senior citizens usually getting 0.25–0.50% extra. Post Office Time Deposits offer comparable government-backed rates. Compare tenures here before booking, and try our compound interest calculator for a year-by-year view.
How to Use the FD Calculator
- 1Enter your deposit amount in rupees.
- 2Enter the annual interest rate offered by the bank.
- 3Set the tenure and pick years, months or days.
- 4Keep quarterly compounding for Indian bank FDs, or change it to match your scheme.
- 5Read the maturity amount and total interest earned.
Frequently Asked Questions
How is FD interest calculated by banks in India?
Most Indian banks compound FD interest quarterly using A = P × (1 + r/4)^(4t), where P is the deposit, r the annual rate as a decimal and t the tenure in years. Interest is credited every quarter and reinvested, so it earns further interest. This calculator uses the same method, so its result closely matches bank maturity certificates.
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% when interest across the bank exceeds the annual threshold (higher limits apply to senior citizens); it is 20% if you have not provided a PAN. You can submit Form 15G/15H to avoid TDS if your total income is below the taxable limit.
Which is better — cumulative or non-cumulative FD?
A cumulative FD reinvests interest until maturity, so compounding works fully and the effective yield is highest — the option this calculator models. A non-cumulative FD pays interest out monthly or quarterly, which suits retirees who need regular income but slightly reduces total earnings because paid-out interest stops compounding.
What happens if I break my FD before maturity?
Premature withdrawal is allowed on most FDs, but the bank recalculates interest at the rate applicable to the period the money actually stayed, usually minus a penalty of 0.5–1%. Tax-saver FDs (5-year, Section 80C) cannot be broken early. If you may need funds, consider laddering several smaller FDs instead of one large deposit.
Are Post Office FD rates different from bank FD rates?
Post Office Time Deposits are a small-savings scheme whose rates are set by the government every quarter, and they are often slightly higher than large-bank FD rates for comparable tenures. Note one difference: Post Office Time Deposits compound interest quarterly but pay it annually. Enter the current quarter's notified rate in this calculator to compare.
Is a fixed deposit safe?
Bank FDs are among the safest investments in India. Deposits in scheduled banks are insured by DICGC up to ₹5 lakh per depositor per bank, covering principal and interest. Post Office deposits carry a sovereign guarantee. For amounts above ₹5 lakh, spreading deposits across banks keeps the full sum within insurance cover.