FD calculator
See what your fixed deposit will be worth at maturity.
₹1,00,000 (1 lakh)
Maturity value
₹1,41,477.82
after 60 months
- Amount deposited
- ₹1,00,000
- Interest earned
- ₹41,477.82
- Maturity value
- ₹1,41,477.82
- Deposit: 70.7%
- Interest: 29.3%
Maturity = P × (1 + r ÷ n)^(n × years), where n is the number of compounding periods a year. Interest is taxable at your slab rate; banks may deduct TDS. Banks counting exact days can differ slightly.
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How to calculate FD maturity
- 1
Enter the deposit amount.
- 2
Enter the bank’s yearly interest rate.
- 3
Enter the tenure and choose how often interest compounds (most banks: quarterly).
- 4
See the maturity value and total interest.
How fixed deposit interest is calculated
Most Indian banks compound FD interest quarterly, adding interest to your deposit every three months so that it earns interest too. The maturity value is:
A fixed deposit calculator: FD interest calculator and FD maturity calculator in one.
Maturity = P × (1 + r ÷ n)^(n × years)
Here r is the yearly rate and n is the number of compounding periods a year (4 for quarterly). ₹1 lakh at 7% for 5 years grows to ₹1,41,477.82.
Choosing the compounding option
- Quarterly: the usual option for cumulative (reinvestment) FDs at banks.
- Monthly, half-yearly or yearly: used by some banks, NBFCs and corporate FDs; check the terms.
- Simple interest: used for very short deposits (usually under six months) and for payout FDs where interest is paid out rather than reinvested.
You can enter the tenure in years or months, such as 15 months or 444 days ÷ 30.
Senior citizens and special schemes
Senior citizens usually get 0.25–0.75% more. Enter the higher rate shown on your bank’s rate card. Tax-saver FDs (5 years) have the same maths, with up to ₹1.5 lakh deductible under 80C in the old regime.
Tax and TDS
FD interest is fully taxable at your slab rate. Banks deduct 10% TDS once your interest from that bank exceeds ₹50,000 in a year (₹1 lakh for senior citizens) unless you submit Form 15G or 15H. The maturity value here is before tax.
For monthly deposits, use the RD calculator.
Frequently asked questions
How do banks calculate FD interest?
Most Indian banks compound FD interest quarterly: maturity = P × (1 + r/400)^(4 × years). For deposits under six months, or payout options, simple interest is used.
Is FD interest taxable?
Yes, it’s added to your income and taxed at your slab rate. Banks deduct TDS above a yearly limit (₹50,000; ₹1 lakh for senior citizens from 2025-26) unless you submit Form 15G or 15H.
Why is my bank’s figure slightly different?
Banks may count exact days for part-periods. For whole years and quarters the result should match.
What about recurring deposits?
Use the RD calculator, which handles monthly instalments with quarterly compounding.