FD Calculator
Calculate fixed deposit maturity and interest with quarterly compounding (Indian bank default), monthly/quarterly payouts and senior citizen rates.
- Free forever
- Instant results
- Private — runs in your browser
= ₹1 lakh
Maturity amount
₹1,41,478
₹1.41 lakh after 5 yr at 7%
FD returns
- Deposit₹1 lakh71%
- Interest₹41,47829%
How to use the FD calculator
Enter the deposit amount, the bank's FD interest rate and the tenure. Choose Cumulative if interest should be reinvested and paid at maturity, or Interest payout to receive interest every month, quarter, half-year or year.
Indian banks compound cumulative FDs quarterly by default; change the compounding if your bank or NBFC uses a different frequency. Tick Senior citizen to add the extra rate most banks offer to depositors aged 60+ (commonly 0.50%, sometimes more).
Formula
Cumulative FD maturity with quarterly compounding (n = 4):
A = P × (1 + r/n)^(n × t)- P = deposit, r = annual rate (7% → 0.07), t = years, n = compounding periods per year
- Leftover months that don't make a full quarter earn simple interest on the compounded amount.
- FDs shorter than 6 months earn simple interest only: A = P × (1 + r × months/12).
Interest payout: quarterly payout = P × r ÷ 4. Monthly payout is the discounted equivalent of the quarterly interest, P × (r/4) × (r/12) ÷ ((1 + r/12)³ − 1), which is slightly less than P × r ÷ 12.
Example: ₹1,00,000 at 7% for 5 years, compounded quarterly → ₹1,41,478.
Frequently asked questions
How is FD interest calculated in Indian banks?
Most banks compound cumulative FD interest quarterly: maturity = P × (1 + r/4)^(4t). For tenures under 6 months, simple interest is paid. Non-cumulative FDs pay simple interest periodically and return the principal at maturity.
How much interest will I get on ₹1 lakh FD for 1 year?
At 7% compounded quarterly, ₹1 lakh grows to about ₹1,07,186 in one year — ₹7,186 of interest, an effective yield of 7.19%. At 6.5% it is about ₹6,660.
Is FD interest taxable?
Yes. FD interest is added to your income and taxed at your slab rate every year, whether it is paid out or accumulated. Banks deduct 10% TDS when a depositor’s interest at that bank crosses ₹50,000 in a financial year (₹1,00,000 for senior citizens from FY 2025-26), or 20% if PAN is not provided. Submit Form 15G/15H if your total income is below the taxable limit.
Do senior citizens get higher FD rates?
Yes. Most banks pay depositors aged 60 and above an extra 0.25% to 0.50% a year, and some special senior schemes add up to 0.75–1%. Check your bank’s current rate card.
Is my fixed deposit safe?
Deposits in banks regulated by RBI, including small finance and cooperative banks, are insured by DICGC up to ₹5 lakh per depositor per bank (principal and interest combined). Corporate/NBFC FDs are not covered by DICGC, so check their credit rating.
What is a tax-saver FD?
A 5-year tax-saver FD qualifies for deduction up to ₹1.5 lakh under Section 80C in the old tax regime. It has a 5-year lock-in with no premature withdrawal, and the interest is still taxable.