🏦 FD Calculator

Work out the maturity value of an Indian fixed deposit, interest included.

How it works

A fixed deposit grows on the standard compound interest formula: Maturity = P × (1 + r/n)^n×t, where P is the deposit, r the yearly rate, t the tenure in years, and n how often interest is compounded each year. Indian banks normally compound quarterly, so n = 4 — every three months the interest earned so far is added to the principal and starts earning too.

That quarterly habit is worth real money compared with yearly compounding, and it is why two FDs quoting the same rate can still pay out slightly different amounts.

An example

Deposit ₹100,000 for 3 years at 6.5% per year, compounded quarterly. The deposit matures at ₹121,340.76, meaning you earn ₹21,340.76 in interest on top of your original ₹100,000. Had the same rate been compounded only once a year, the payout would have been noticeably lower — a good reason to check the compounding frequency, not just the headline rate, when comparing banks.

Common questions

Is FD interest taxed in India?

Yes. The interest is added to your income and taxed at your slab rate, and the bank deducts TDS when the interest crosses the yearly threshold. The maturity figure here is before tax.

Do senior citizens get a better FD rate?

Usually, yes — most banks pay around 0.50% extra per year on FDs for senior citizens. Just raise the rate in the calculator to see how much difference that half percent makes.

What if I break the FD before maturity?

Banks allow premature withdrawal but pay the rate for the period the money actually stayed, typically minus a penalty of 0.5–1%. Long tenures only pay off if you can leave the money untouched.

Related calculators

This calculator gives estimates for learning. Rates, taxes and rules change, and your lender or the IRS has the final numbers — check big decisions against the real documents.