FD Calculator
Calculate maturity amount and interest earned on your Fixed Deposit
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What is Fixed Deposit (FD)?
A Fixed Deposit (FD) is a financial instrument offered by banks and financial institutions where you deposit a lump sum amount for a fixed tenure at a predetermined interest rate. FDs are one of the safest and most popular investment options in India, offering guaranteed returns and capital protection.
Key Features of FD:
- Fixed interest rate for the entire tenure
- Guaranteed returns with capital protection
- Flexible tenure options (7 days to 10 years)
- Higher interest rates for longer tenures
- Option for quarterly, monthly, or yearly interest payouts
- Loan facility available against FD (up to 90% of value)
How Fixed Deposit (FD) is Calculated?
Fixed Deposit (FD) interest is calculated using compound interest, where interest is added to the principal at regular intervals (compounding frequency). The more frequently interest is compounded, the higher your returns.
Fixed Deposit Formula/Equation
Where:
- A = Maturity amount
- P = Principal amount
- r = Annual interest rate (as decimal)
- n = Compounding frequency per year (1 for yearly, 4 for quarterly, 12 for monthly)
- t = Time in years
Example:
Let's say you invest ₹5,00,000 in an FD at 7.5% annual interest rate, compounded quarterly for 5 years.
Given: P = ₹5,00,000, r = 7.5% = 0.075, n = 4 (quarterly), t = 5 years
Step 1: Apply the Compound Interest Formula
A = P(1 + r/n)^(nt)
A = ₹5,00,000 × (1 + 0.075/4)^(4 × 5)
A = ₹5,00,000 × (1.01875)^20
A = ₹5,00,000 × 1.4499
A = ₹7,24,950
Step 2: Calculate Interest Earned
Interest = A - P
Interest = ₹7,24,950 - ₹5,00,000 = ₹2,24,950
Result: Your FD of ₹5,00,000 grows to ₹7,24,950, earning ₹2,24,950 in interest over 5 years.
Why Use Our FD Calculator?
Accurate Calculations
Get precise maturity amount and interest calculations using the same compound interest formula used by banks.
Compare Compounding Options
See how different compounding frequencies (quarterly, monthly, yearly) affect your returns.
Visual Growth Charts
Track your FD growth over time with interactive charts showing principal and maturity amount.
Instant Results
Get instant calculations as you adjust principal, interest rate, or tenure.
Flexible Tenure
Calculate for any tenure - days, months, or years - just like real bank FDs.
Mobile Friendly
Plan your FD investments on the go with our mobile-optimized calculator.
Benefits of Using Our FD Calculator
💼 Plan Your Investments
Calculate exactly how much you'll earn before investing. Compare different FD options and choose the best tenure and interest rate for your financial goals.
📊 Understand Compounding
See how compound interest works in real-time. Understand the difference between quarterly, monthly, and yearly compounding and maximize your returns.
🎯 Set Financial Goals
Use the calculator to determine how much you need to invest to reach your target amount. Perfect for planning major expenses, education, or retirement.
💰 Compare Bank Rates
Test different interest rates to compare offers from various banks. Make informed decisions about where to invest your money.
📈 Track Growth
Visualize how your FD grows year by year with our interactive charts. See the power of compound interest in action.
Fixed Deposit Calculator FAQs
❓How is FD interest calculated?
FD interest is calculated using compound interest formula: A = P(1 + r/n)^(nt), where P is principal, r is annual interest rate, n is compounding frequency, and t is time in years. More frequent compounding (monthly vs quarterly) results in higher returns.
❓What is the difference between quarterly, monthly, and yearly compounding?
Compounding frequency determines how often interest is calculated and added to the principal. Monthly compounding calculates interest 12 times a year, quarterly 4 times, and yearly once. More frequent compounding yields higher returns due to interest earning interest sooner.
❓Are FD returns taxable in India?
Yes, FD interest is taxable as per your income tax slab. TDS (Tax Deducted at Source) of 10% is applicable if interest exceeds ₹40,000 (₹50,000 for senior citizens) in a financial year. You can claim TDS credit while filing income tax returns.
❓Can I break my FD before maturity?
Yes, you can break your FD before maturity, but banks typically charge a penalty (usually 0.5-1% reduction in interest rate). The premature withdrawal interest rate is usually lower than the contracted rate.
❓Is this FD calculator accurate?
Yes, this calculator uses the standard compound interest formula used by banks. However, actual rates may vary by bank and tenure. Always verify with your bank for exact interest rates and terms.