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    FD Calculator

    Find what your fixed deposit will be worth at maturity, and how much interest it earns.

    ₹
    % a year
    Term
    years
    months
    Interest is
    ResultUpdates as you type—Maturity amount—Interest earned—Effective yearly yieldDepositInterest

    How your FD maturity is worked out

    Maturity = deposit × (1 + rate per period) raised to the number of periods.

    1. 1

      Rate per quarter

      7% ÷ 4
      = 1.75%

    2. 2

      Number of quarters

      5 years × 4
      = 20 quarters

    3. 3

      Grow the deposit

      ₹1,00,000
      × 1.0175²⁰
      = ₹1,41,478

    4. 4

      Interest earned

      ₹1,41,478
      − ₹1,00,000
      = ₹41,478

    Read more: the formula, a worked example, payout FDs and tax

    Most Indian banks compound fixed deposit interest every quarter, so each quarter's interest earns interest itself for the rest of the term.

    maturity = P × (1 + r ÷ n)^(n × t)

    Here P is the deposit, r is the annual rate as a decimal, n is the number of compounding periods a year (4 for quarterly) and t is the term in years.

    Worked example

    ₹1,00,000 at 7% for 5 years, compounded quarterly, grows to ₹1,41,478, so you earn ₹41,478 in interest. That's an effective yield of 7.19% a year.

    Payout FDs

    If you choose monthly or quarterly interest payouts, the interest is paid to your account instead of being added to the deposit. It doesn't compound, so you earn simple interest: ₹7,000 a year on ₹1,00,000 at 7%.

    Tax

    FD interest is added to your income and taxed at your slab rate. Banks deduct TDS when interest crosses the yearly threshold, unless you submit Form 15G or 15H. Senior citizens usually get an extra 0.25–0.75% on their rate.

    Before tax. Banks may round differently or calculate short terms in days. Check your bank's FD receipt for exact figures.