FD Calculator
Compute the maturity, interest earned and effective annual rate of a fixed deposit in India. Free FD calculator with quarterly, monthly and annual compounding.
Start here
- What to enter
- Enter your deposit, the bank's annual rate, tenure and compounding frequency.
- What the result means
- Maturity is your deposit plus compounded interest, before any tax deduction.
See an example & limits
- Simple example
- ₹1 lakh at an illustrative 7% for 1 year with annual compounding becomes ₹1.07 lakh.
- Keep in mind
- Use your bank's actual offer and payout terms. Tax, premature closure penalties and day-count differences can change the payout.
Calculate your result
Enter your numbers. Your estimate and charts update as you make changes.
Fixed Deposit
Cumulative FD estimate before tax. Enter your issuer’s actual rate. Interest is reinvested; day-count and premature-closure rules can change payouts.
- Maturity
- ₹6,90,210
- ₹6.9L
- Interest earned
- ₹1,90,210
- Effective annual rate
- 6.660%
What your numbers mean
After 6% inflation, the real return is about 0.6% a year.
This assumes 6% inflation. Interest is taxed at your slab rate, further reducing purchasing-power growth.
An extra 0.5 percentage points of interest adds ₹17,179 at maturity.
Compare issuer rates and tenures; check eligibility for senior-citizen rates.
Maturity of ₹6.9L exceeds the ₹5 lakh DICGC cover.
Eligible deposits are insured up to ₹5 lakh per depositor per bank, including interest. Check coverage and total balances before spreading deposits.
At this rate, the deposit doubles in about 10.8 years before tax.
Rule of 72 estimate: 72 ÷ 6.5 ≈ 11.1 years.
FD growth
Projected value compared with Amount invested. Amounts in rupees.
View chart data
| Year | Amount invested | Projected value |
|---|---|---|
| 0 | ₹5,00,000 | ₹5,00,000 |
| 1 | ₹5,00,000 | ₹5,33,301 |
| 2 | ₹5,00,000 | ₹5,68,819 |
| 3 | ₹5,00,000 | ₹6,06,704 |
| 4 | ₹5,00,000 | ₹6,47,111 |
| 5 | ₹5,00,000 | ₹6,90,210 |
Understand your calculation
A Fixed Deposit, or FD, is the most familiar safe investment in India. You park a lump sum with a bank or NBFC for a chosen tenure, and the institution pays a contracted interest rate, typically compounded quarterly. The FD calculator on this page tells you the maturity value, the total interest earned and the effective annual rate, given your principal, the rate, the tenure and the compounding frequency.
Why use the FD Calculator
FD maturity depends on the actual issuer's rate, tenure and compounding convention. This calculator estimates a cumulative deposit before tax, not periodic-payout FD income. Defaults are illustrative, not live SBI quotations. Bank day-count conventions, short-tenure simple interest, tax deductions and premature-closure penalties can change the amount actually credited.
Benefits at a glance
Compare the applicable rate
Enter the issuer's regular or senior-citizen rate for your exact tenure. The effective annual rate accounts for compounding, not issuer safety.
How to use the FD Calculator
- 1
Enter the principal
The amount you plan to deposit. FDs in India have minimum amounts as low as 1,000 rupees and no upper cap. Tax saver FDs (5 year lock in, 80C eligible) have a 1.5 lakh annual limit.
- 2
Enter the interest rate
Use the quoted rate for your issuer, deposit size, age and exact tenure. The regular and senior defaults here are planning examples, not current bank offers. Higher rates do not remove issuer credit risk.
- 3
Set the tenure
FD tenures range from 7 days to 10 years. Common planning tenures include 1 year, 2 to 3 years and 5 years. The 5 year tax saver FD has a hard lock in.
- 4
Choose the compounding frequency
Quarterly is the default for most Indian bank FDs. Some company FDs use half yearly or monthly. Read the FD application form to confirm.
- 5
Read the maturity and interest
Maturity and interest are before tax. TDS is an advance credit against final income tax, not an extra tax on top of your slab liability. Do not subtract both full slab tax and TDS from the same gross interest.
Worked example
₹5,00,000 for 5 years at 6.5%, compounded quarterly
Quarterly compounding means 4 periods a year at 6.5% ÷ 4 = 1.625% each, for 20 periods. Maturity = ₹5,00,000 × 1.01625^20 = ₹6,90,210. The effective annual rate is 1.01625^4 − 1 = 6.660%. With annual compounding the same deposit would mature at ₹6,85,043, about ₹5,000 less.
- Principal
- ₹5,00,000
- Interest earned
- ₹1,90,210
- Maturity value
- ₹6,90,210
- Effective annual rate
- 6.660%
The figure is before tax. If your slab is 30%, roughly ₹57,000 of the interest goes in tax across the five years, so compare FDs on post-tax return.
How it's calculated
The calculator uses the standard compound-interest formula A = P × (1 + r/n)^(n × t), where P is the principal, r the annual rate as a decimal, n the compounding periods per year (1, 2, 4 or 12; quarterly is the default) and t the tenure in years. Interest earned is A − P.
The effective annual rate shown is (1 + r/n)^n − 1. It's the single yearly rate that would give the same maturity, which makes it the fair way to compare a quarterly FD with one that compounds monthly or annually.
Fractional tenures are compounded as fractional periods too, so 2.5 years quarterly is treated as exactly 10 quarters. Banks may instead use day counts or simple interest for short or broken periods, so the final credit can differ by a small amount. TDS, tax and premature-withdrawal penalties aren't deducted.
Frequently asked questions
What is the difference between cumulative and non cumulative FD?
A cumulative FD pays the interest at maturity along with the principal, with the interest reinvested at the same rate during the tenure. A non cumulative FD pays the interest periodically (monthly, quarterly or annually) to your bank account, leaving the principal intact. Cumulative gives a higher final maturity due to compounding. Non cumulative provides regular income.
How is FD interest taxed in India?
Interest is taxable at your slab rate. From 1 April 2025, the usual bank/co-operative bank/notified post-office annual TDS threshold is ₹50,000, or ₹1,00,000 for senior citizens. With valid PAN the usual TDS rate is ten percent; eligibility for Form 15G/15H and exceptions must be checked. TDS is credit against final tax, not the final rate.
What is a tax saver FD?
A tax saver FD is a 5 year FD that qualifies for Section 80C deduction up to 1.5 lakh combined with other 80C investments. The lock in is hard, no premature withdrawal allowed. The interest is fully taxable at slab rate. Useful for old regime taxpayers who want a guaranteed return option within their 80C limit.
Should I break my FD early?
Most Indian bank FDs allow premature withdrawal with a penalty of 0.5 to 1 percent reduction on the applicable rate (the lower of the contracted rate or the rate that would have applied for the actual tenure held). Tax saver FDs cannot be broken before 5 years. If the alternative use of the funds earns significantly more than the FD rate, breaking may be worthwhile.
Are FDs covered by deposit insurance?
Yes. Bank FDs in India are covered by DICGC up to 5 lakh per depositor per bank. This includes both principal and interest. Spread large deposits across multiple banks if total exposure exceeds the cap. NBFCs and corporate FDs are not covered by DICGC and carry credit risk of the issuer.
Are NBFC and corporate FDs safer than bank FDs?
Generally no. NBFC and corporate FDs usually offer higher rates precisely because they carry higher credit risk. Check the issuer's current credit rating before investing and stick to highly rated issuers. DICGC insurance does not apply.
Should I split my FD across multiple banks?
Yes if your total deposit exceeds the 5 lakh DICGC insurance cap at a single bank. Spreading deposits keeps the entire amount insured. Many depositors split between two or three large public and private sector banks for the additional safety margin.
Official sources
Related guides
- SIP vs FD: what actually differs after tax and inflation
- How big your emergency fund should be
- RD calculator
- Compound interest calculator
- PPF calculator for tax-free long-term savings
- SIP vs FD comparison
- SCSS for senior citizens
- POMIS for monthly income
- NSC for 80C with locked rate
- Real return after inflation
- Tax on FD interest