Finance & Investment · Bank Deposits
FD Calculator — Fixed Deposit Interest & Maturity
Calculate the maturity amount and interest on a fixed deposit (or certificate of deposit) the way banks do: quarterly compounding for complete quarters, simple interest for the remaining days, simple interest on deposits under six months — plus monthly or quarterly payout options, the senior-citizen rate, TDS and your post-tax return.
Your inputs
Quick start — try a typical case
₹ 5 lakh
Your result Live
Maturity Amount
₹6,15,720
₹5,00,000 + ₹1,15,720 interest at 7.00% for 3 years
- Interest Earned
- ₹1,15,720
- Effective Annual Yield
- 7.19%
- TDS Deducted (estimate)
- None — yearly interest is below ₹50,000
- Deposit · 81%₹5,00,000
- Interest · 19%₹1,15,720
Year by year
3 rowsInterest on FDs is fully taxable at your slab rate each year (as it accrues), even in a cumulative FD. A 5-year tax-saver FD qualifies for 80C in the old regime.
How this is calculated
A = P × (1 + r/n)^k × (1 + r × (t − k/n)), k = complete compounding periods · under 6 months: A = P × (1 + r × t)
- P, r, t
- Deposit, yearly rate and tenure in years (days ÷ 365)
- n
- Compounding periods a year (4 = quarterly, the norm for Indian banks)
- Monthly payout
- P × ((1 + r/4)^(1/3) − 1) — the monthly rate equivalent to quarterly compounding
Banks compound FD interest every quarter: each quarter's interest is added to the deposit and earns interest itself. For a tenure that isn't a whole number of quarters, the last part earns simple interest. If you choose a monthly or quarterly payout instead, the interest is paid to your account and doesn't compound.
Assumptions & sources
- Fixed rate for the whole tenure; no premature withdrawal penalty.
- TDS estimate: 10 % of a year's interest when it exceeds ₹50,000 (₹1,00,000 for seniors) at one bank, 20 % without PAN; checked 2026-10-12.
- 1TDS on interest other than interest on securities (section 194A / section 393 of the Income-tax Act, 2025) — thresholds from 1 April 2025 — Income Tax Department
- 2Interest rates on deposits — Master Direction — Reserve Bank of India
- 3CFA Program Curriculum — Quantitative Methods: The Time Value of Money — CFA Institute
Calculator ID BANK-FD-001 · version 1.0.0
Common questions
How is FD interest calculated?
Most banks compound quarterly: A = P(1 + r/4)^(4t). ₹5 lakh at 7 % for 3 years grows to about ₹6.16 lakh.
Is FD interest taxable?
Yes — it's added to your income and taxed at your slab rate every year, even if you only receive it at maturity. Banks deduct 10 % TDS when a year's interest from them crosses ₹50,000 (₹1 lakh for senior citizens).
Monthly payout or cumulative?
Cumulative grows more because interest compounds. Choose a payout if you need regular income — for example, retirees covering monthly expenses.