About the FD Calculator
A fixed deposit (FD) is one of the most popular ways to save in India. You deposit a lump sum with a bank or post office for a fixed period and earn a fixed rate of interest. In a cumulative FD the interest is added back to the deposit, so it keeps earning interest until maturity.
This FD calculator shows the maturity amount and total interest for a cumulative FD. Most Indian banks compound FD interest quarterly, which is the default here, but you can change it. The chart shows how your deposit grows year by year.
How to use it
- Enter the amount you want to deposit.
- Enter the interest rate offered by your bank.
- Enter the tenure in years (decimals are allowed, so 1.5 means 18 months).
- Choose how often interest is compounded.
- Read the maturity amount and interest earned, and look at the growth chart.
Formula
Maturity amount = P × (1 + r ÷ n)^(n × t), where P is the deposit, r is the yearly rate as a decimal, n is the number of compounding periods per year and t is the tenure in years.
Example
An FD of ₹1,00,000 at 7% for 5 years, compounded quarterly, matures at about ₹1,41,478. The interest earned is about ₹41,478.
Cumulative vs non-cumulative FDs
In a cumulative FD, interest is reinvested and paid at maturity, which gives the highest final amount. In a non-cumulative FD, interest is paid out monthly or quarterly, which suits people who need regular income but earns less in total because the interest does not compound. This calculator is for cumulative FDs.
Tax on FD interest
FD interest is added to your income and taxed at your slab rate. Banks may deduct TDS if your interest crosses the yearly threshold, unless you submit Form 15G or 15H where eligible. Your real return after tax can therefore be noticeably lower than the rate on the deposit receipt.
Senior citizen rates
Many banks offer senior citizens an extra 0.25–0.50% a year. Enter the higher rate to see the difference it makes over the tenure.
Frequently asked questions
Is FD money safe?
Deposits in banks are insured by DICGC up to ₹5 lakh per depositor per bank, covering principal and interest together.
Can I break an FD early?
Usually yes, but banks may pay a lower rate and charge a penalty for premature withdrawal.
Why does my bank show a slightly different amount?
Banks may count days exactly and round differently. The result is a close estimate.
Does this include TDS?
No. It shows the amount before any tax is deducted.