The FD Calculator shows how much a fixed deposit will grow. Enter the amount you deposit, the interest rate, and how long you keep it invested, and it instantly calculates the maturity value and the total interest you earn — with a clear breakdown of your principal versus interest.
A fixed deposit is one of the safest ways to grow money in India: you lock in a sum for a fixed period at a guaranteed rate. This calculator uses quarterly compounding, the convention most banks follow, and runs entirely in your browser so none of your figures are uploaded or stored.
How to use the FD calculator
- Enter the amount you want to deposit.
- Set the interest rate offered by your bank (senior citizens usually get a little more).
- Choose the tenure in years.
- Read the maturity value and total interest, updated live as you adjust the sliders.
How FD interest is calculated
Banks compound fixed-deposit interest quarterly. That means every three months the interest earned is added to your principal, and the next quarter’s interest is calculated on the larger balance. This calculator applies that quarterly compounding to give the maturity value: principal × (1 + r/4)^(4 × years), where r is the annual rate.
Because interest compounds, a longer tenure earns disproportionately more. The actual figure your bank quotes can differ by a small amount depending on the exact number of days and their compounding method.
Things to know about fixed deposits
- The rate is locked in for the whole tenure, so your return is guaranteed regardless of market moves.
- Interest is taxable, and banks deduct TDS if it exceeds ₹40,000 a year (₹50,000 for senior citizens).
- Senior citizens usually earn an extra 0.25%–0.50% over the standard rate.
- Breaking an FD early usually attracts a small penalty and a lower interest rate.
Frequently Asked Questions
How is FD maturity calculated?
Most banks compound FD interest quarterly. The maturity amount is principal × (1 + annual rate ÷ 4)^(4 × number of years). This calculator uses that formula.
Is FD interest taxable?
Yes. FD interest is added to your income and taxed at your slab rate. Banks deduct TDS if your interest crosses ₹40,000 in a year (₹50,000 for senior citizens), which you can adjust when filing your return.
Do senior citizens get a higher FD rate?
Usually yes — most banks offer senior citizens an extra 0.25% to 0.50%. Enter that higher rate in the calculator to see the difference.
Will my bank’s figure exactly match this?
It will be very close. Small differences can arise from the exact number of days in the tenure and the bank’s specific day-count and compounding conventions.