FD Calculator Online - Fixed Deposit Maturity & Interest Calculator

Fixed deposit interest is calculated using the compound interest formula: A = P × (1 + r/n)^(n×t), where P is the principal amount, r is the annual interest rate, n is the number of compounding periods per year (monthly = 12, quarterly = 4, half-yearly = 2, yearly = 1), and t is the tenure in years. The interest earned is the maturity value minus the principal. Most Indian banks compound FD interest quarterly, though some products use monthly or half-yearly compounding.

In a cumulative FD, interest is compounded and reinvested along with the principal for the full tenure. You receive the entire maturity value — principal plus all accumulated interest — at the end. This is better for long-term wealth creation. In a non-cumulative FD, interest is paid out at regular intervals (monthly, quarterly, half-yearly, or annually) instead of being reinvested. This suits investors who need a regular income from their deposit, such as retirees. The maturity value calculation shown here applies to cumulative FD.

For the same nominal interest rate and tenure, monthly compounding gives a slightly higher effective return than quarterly, which is slightly higher than half-yearly, and yearly compounding gives the lowest effective return. The difference is small but visible over long tenures or large principal amounts. Most Indian bank FDs use quarterly compounding. Small finance banks and some NBFCs may offer different compounding schedules, so always compare the effective annual yield.

The best FD tenure depends on your goal, liquidity needs, and current interest rate environment. For most banks, FD rates peak around 1 to 3 years. Senior citizens typically get 0.25% to 0.50% higher rates. Tax-saving FDs require a 5-year lock-in and qualify for deduction under Section 80C. Short tenures of 7 to 90 days offer lower rates, while very long tenures of 5 to 10 years may not always give better rates than the 1–3 year range. Check current rates at your bank before booking.

Yes. FD interest is fully taxable as income from other sources under the Income Tax Act. It is added to your total income and taxed at your applicable slab rate. Banks deduct TDS at 10% if total FD interest in a financial year exceeds ₹40,000 (₹50,000 for senior citizens). If your income is below the taxable threshold, you can submit Form 15G or Form 15H to avoid TDS. This FD calculator does not account for TDS or income tax; the maturity value shown is the gross amount before tax. Use the Budget Planner to factor post-tax FD income into your monthly cash flow.

The effective annual yield (EAY) or effective annual rate (EAR) accounts for the impact of compounding within the year. For a 7% nominal rate compounded quarterly, EAY = (1 + 0.07/4)^4 − 1 ≈ 7.19%. For monthly compounding at 7%, EAY ≈ 7.23%. The FD calculator shows you effective yield so you can compare FDs with different nominal rates and compounding frequencies on an equal basis.

Yes. This FD calculator runs entirely in your browser. Your principal amount, interest rate, tenure, and compounding preference are not uploaded to any server. All calculations happen locally using JavaScript. The tool may save your latest inputs in browser local storage for convenience when you revisit. No account or login is required.

Yes. Simply enter the senior citizen FD rate offered by your bank (typically 0.25% to 0.75% higher than regular rates) in the annual rate field. The calculator will compute the maturity value and interest based on that rate. This works for FDs from SBI, HDFC Bank, ICICI Bank, Axis Bank, Kotak, and any other bank or NBFC as long as you enter the correct rate.