FD Calculator

A fixed deposit calculator works out what an FD will be worth when it matures. You lock a sum with a bank or NBFC for a set period at a fixed rate, and with a cumulative FD the interest is reinvested, compounding until maturity.

Enter the deposit, the rate and the tenure in years and months, and pick how often interest is compounded. The calculator shows the maturity value, the interest earned, the effective yearly yield and the value at the end of each year. It's the quickest way to compare banks' FD rates, or an FD with other safe options such as RD, PPF or a debt fund.

Cumulative FDs reinvest interest, so the maturity value is P × (1 + r ÷ n)^(n × t): the deposit P, the yearly rate r, compounded n times a year for t years. Banks in India usually compound quarterly, which turns a 7% rate into an effective yield of 7.19%.

FD interest is added to your income and taxed at your slab rate. Banks deduct TDS once a year's interest crosses ₹50,000 (₹1 lakh for senior citizens) unless you submit Form 15G or 15H. Deposits are insured by the DICGC up to ₹5 lakh per depositor per bank.