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
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Interest earned
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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 gets added to the principal, so the next period earns interest on a bigger amount. The formula is:
A = P × (1 + r/m)m×t
Here P is your deposit amount. r is the annual interest rate (as a decimal). m is how many times a year the interest is compounded. t is the tenure in years. Interest earned is simply A − P.
Worked example
Put ₹1,00,000 into an FD at 7% per year for 5 years, with quarterly compounding (m = 4, the standard at Indian banks):
A = 1,00,000 × (1 + 0.07/4)²⁰ ≈ ₹1,41,478
The interest earned is about ₹41,478. With yearly compounding instead, you would get about ₹1,40,256 — roughly ₹1,200 less. More frequent compounding always pays a little extra, which is why the 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 cut 10% TDS when your annual FD interest crosses ₹50,000 (₹1 lakh for senior citizens). TDS is not your final tax — you still declare the full interest in your ITR.
- Breaking an FD early. You usually pay a 0.5–1% penalty, and interest is paid at the rate for the period the money actually stayed. If you might need the money, look for no-penalty or sweep-in FDs.
- Senior citizen rates. Most banks pay 0.25–0.50% extra to depositors aged 60 and above, along with the higher ₹1 lakh TDS threshold.
- Deposit insurance. DICGC insures your bank deposits up to ₹5 lakh per depositor per bank (principal + interest together). If your deposit is bigger than that, split it across banks.
- Laddering. Instead of one big FD, split the money into several FDs maturing in different years. You get cash coming back at intervals, and you can reinvest at whatever rates are on offer then.
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 the interest starts earning interest sooner.
Is FD interest taxable?
Yes. FD interest is fully taxable at your income tax slab rate, with no special concessional rate. From FY 2025-26, banks cut 10% TDS when annual interest crosses ₹50,000 (₹1 lakh for senior citizens), but you are still taxed on the full interest in your return.
What happens if I break my FD early?
Banks allow premature withdrawal, but they pay interest at the rate for the period your money actually stayed — minus a penalty, typically 0.5% to 1%. Some banks offer sweep-in or no-penalty FDs for extra 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 NBFCs pay higher rates, but you should check them more carefully before depositing.
FD vs PPF — which is better?
PPF gives tax-free EEE returns (currently 7.1%) and suits long-term goals, but your money is locked for 15 years. FDs are flexible — better for short-term goals and emergency funds — but the interest is fully taxable. Many savers use both.
Do senior citizens get higher FD rates?
Yes. Most Indian banks give senior citizens an extra 0.25% to 0.50% over regular FD rates, plus a higher TDS threshold of ₹1 lakh per year from FY 2025-26.