FD Calculator — Estimate Your Fixed Deposit Maturity Value
See how much your fixed deposit will be worth at maturity. Enter the deposit amount, interest rate and tenure — with the compounding frequency your bank uses — to estimate the maturity value and interest earned.
Maturity value
–
Interest earned
–
Year-wise growth
Deposit vs interest earned, year by year.
How FD maturity is calculated
A fixed deposit grows through compound interest: each period's interest is added to the principal, so the next period earns interest on a larger amount. The formula is:
A = P × (1 + r/m)m×t
Here P is the deposit amount, r is the annual interest rate (as a decimal), m is the number of compounding periods per year, and t is the tenure in years. Interest earned is simply A − P.
Worked example
Deposit ₹1,00,000 at 7% per annum for 5 years with quarterly compounding (m = 4, the Indian bank standard):
A = 1,00,000 × (1 + 0.07/4)²⁰ ≈ ₹1,41,478
Interest earned ≈ ₹41,478. With yearly compounding instead, the maturity would be about ₹1,40,256 — roughly ₹1,200 less. More frequent compounding always pays a little extra, which is why banks' quarterly compounding works in your favour.
India-specific notes
- Tax on interest. FD interest is fully taxable at your income tax slab rate. From FY 2025-26, banks deduct 10% TDS when your annual FD interest crosses ₹50,000 (₹1 lakh for senior citizens). TDS is not the final tax — you still declare the full interest in your ITR.
- Premature withdrawal. Breaking an FD early usually costs 0.5–1% penalty, and interest is paid at the rate for the period the money actually stayed. Check for no-penalty or sweep-in FDs if you may need the money.
- Senior citizen rates. Most banks pay 0.25–0.50% extra to depositors aged 60+, along with the higher ₹1 lakh TDS threshold.
- Deposit insurance. DICGC insures bank deposits up to ₹5 lakh per depositor per bank (principal + interest together). Split very large deposits across banks if needed.
- Laddering. Instead of one big FD, split it into multiple FDs maturing in different years. You get periodic liquidity and can reinvest at prevailing rates.
FD Calculator FAQs
How is FD interest compounded in India?
Most Indian banks compound FD interest quarterly by default, though some offer monthly, half-yearly or annual options. More frequent compounding gives a slightly higher maturity value because interest starts earning interest sooner.
Is FD interest taxable?
Yes. FD interest is fully taxable at your income tax slab rate — there is no special concessional rate. From FY 2025-26, banks deduct 10% TDS when annual interest crosses ₹50,000 (₹1 lakh for senior citizens), but the full interest is still taxable in your return.
What happens if I break my FD early?
Banks allow premature withdrawal but pay interest at the rate applicable for the period the deposit actually ran, minus a penalty — typically 0.5% to 1%. Some banks offer sweep-in or no-penalty FDs for flexibility.
Are bank FDs safe?
Deposits with scheduled banks are insured by DICGC up to ₹5 lakh per depositor per bank (principal + interest). Small finance banks and NBFC deposits carry higher rates but need more careful evaluation.
FD vs PPF — which is better?
PPF offers tax-free EEE returns (currently 7.1%) and suits long-term goals, but locks money for 15 years. FDs are flexible and better for short-term goals and emergency funds, but interest is fully taxable. Many savers use both.
Do senior citizens get higher FD rates?
Yes. Most Indian banks offer senior citizens an extra 0.25% to 0.50% over regular FD rates, along with a higher TDS threshold of ₹1 lakh per year from FY 2025-26.