FD Calculator
Calculate the maturity value of a fixed deposit.
Your inputs
Cumulative fixed deposit compounded quarterly, the standard for most banks.
Estimates only. Figures are indicative and do not constitute financial advice.
About the FD Calculator
"FD calculator" and "fixed deposit interest calculator" are searched constantly in India, especially when interest rates move or a deposit is about to mature — because a fixed deposit's return depends on more than just the headline interest rate; compounding frequency matters too. This FD calculator shows you the maturity value of a cumulative fixed deposit compounded quarterly, which is the standard convention most Indian banks use.
Enter your deposit amount, the interest rate your bank is offering, and the tenure, and the calculator shows your maturity value, total interest earned, and the effective annual yield — which is actually slightly higher than the nominal rate you were quoted, because of quarterly compounding. For example, a nominal 7% FD compounded quarterly yields closer to 7.19% effectively over a year, and that gap widens the longer your tenure runs. This tool is useful for comparing FD offers across banks with different quoted rates and tenures, deciding between a shorter FD (more flexibility, lower rate typically) versus locking in for longer at a potentially better rate, or simply checking what a lumpsum sitting in a savings account could earn instead if moved into an FD. Keep in mind that FD interest is fully taxable as per your income tax slab (TDS is deducted by the bank if interest crosses the threshold in a financial year), unlike PPF, so factor your tax bracket in when comparing FD returns against other post-tax alternatives.
How to use this calculator
- Enter your FD deposit amount.
- Enter the interest rate your bank is offering.
- Enter the tenure in years.
- See your maturity value, interest earned, and effective annual yield.
Frequently asked questions
›How is FD interest calculated in India?
Most Indian bank fixed deposits use quarterly compounding by default for cumulative FDs, meaning interest is calculated and added to principal every three months, so your effective annual return is slightly higher than the nominal rate quoted.
›Is FD interest taxable?
Yes, interest earned on a fixed deposit is fully taxable as per your income tax slab, and banks deduct TDS if your total interest income from that bank crosses the prescribed threshold in a financial year.
›What is the difference between cumulative and non-cumulative FD?
A cumulative FD reinvests interest and pays out the full amount at maturity (what this calculator models), while a non-cumulative FD pays out interest periodically (monthly, quarterly, etc.) instead of compounding it.
›What is a good FD interest rate currently?
FD rates vary by bank, tenure, and whether you're a senior citizen (who typically get a higher rate) — it's worth comparing current rates across banks rather than assuming a fixed benchmark, since rates move with RBI policy.
›Can I break my FD before maturity?
Most banks allow premature FD withdrawal, but usually with a penalty (a reduction in the interest rate applied), so check your bank's specific premature withdrawal terms before committing to a long tenure.