FD Calculator: Fixed Deposit Maturity Amount and Interest

How to use this calculator

1. Enter the amount you will deposit.
2. Enter the interest rate your bank offers.
3. Enter the tenure as years and months.
4. Choose the compounding frequency from your bank's FD terms.
5. Read the maturity amount and the interest earned.

The formula

Worked example

Understanding your result

The effective annual yield is a little higher than the stated rate because interest is added to the balance during the year. Cumulative FDs pay everything at maturity, which is what this calculator shows. Non-cumulative FDs pay interest out regularly instead, so their maturity value is just the deposit.

When to use it

• Compare FD offers from different banks for the same tenure.
• Plan a goal date by checking what a deposit will be worth then.
• Compare an FD against other fixed-income options.

In-depth guide

How much a fixed deposit grows over time

A fixed deposit pays a fixed rate for a fixed period. When the interest is compounded, it is added to the deposit and earns interest too. The table uses ₹1,00,000 at 7% a year, compounded quarterly.

Cumulative or payout: which one to choose

In a cumulative deposit the interest is reinvested and paid at maturity, so you earn interest on interest. In a payout deposit the interest is paid out monthly, quarterly or yearly, which gives regular income but no compounding on the paid-out part. Choose cumulative to grow savings, and payout if you need steady income.

Effect of compounding frequency

For the same stated rate, more frequent compounding gives a slightly higher maturity amount. The table uses ₹1,00,000 at 7% for 5 years.

Things to check before you open a deposit

• The rate for your tenure. Banks often pay different rates for different periods, and many pay a higher rate to senior citizens.
• The premature withdrawal rule. Breaking a deposit early usually lowers the rate or adds a penalty.
• Tax. Interest is taxable as income, and the bank may deduct tax at source above a yearly limit. The limit can change, so confirm the current rule with your bank.
• Deposit insurance cover on the bank, which has a limit per depositor per bank.
• Whether the deposit renews automatically at maturity and at what rate.

Limits of this calculator

The result assumes a fixed rate and the compounding you choose. Tax, penalties and the bank's own day-count method are not included, so the actual maturity value on your receipt can differ slightly.

Assumptions and limits

Assumes a fixed rate and interest compounded at the frequency you pick. Tax deducted at source (TDS), income tax on interest, premature withdrawal penalties and bank-specific day counts are not included.

Frequently asked questions