Calculate your FD maturity amount and interest earnings with our easy-to-use fixed deposit calculator.
A Fixed Deposit (FD) calculator is a free online tool that helps you calculate the maturity amount and interest earnings on your fixed deposit investments. By entering your deposit amount, interest rate, tenure, and compounding frequency, you can instantly see how much your FD will be worth at maturity and how much interest you'll earn.
A Fixed Deposit is a safe investment instrument offered by banks and financial institutions where you deposit a lump sum amount for a predetermined tenure at a fixed interest rate. The interest rate remains locked throughout the tenure, providing guaranteed returns. At maturity, you receive your principal amount plus the accumulated interest. FDs are ideal for risk-averse investors seeking stable, predictable returns.
An FD calculator empowers you to:
FD returns are calculated using different formulas based on the compounding frequency:
For Compound Interest (Quarterly/Monthly):
A = P × (1 + r/n)n×t
For Simple Interest (At Maturity):
A = P × (1 + r×t)
Where:
Important Note: The calculator provides estimated returns. Actual FD interest may vary based on the bank, deposit amount, tenure, and senior citizen benefits. TDS (Tax Deducted at Source) of 10% applies if annual interest exceeds ₹40,000 (₹50,000 for senior citizens).
A Fixed Deposit is a financial instrument where you deposit a lump sum at a fixed interest rate for a chosen tenure. The rate stays constant throughout, offering guaranteed, predictable returns. Bank FDs are insured by DICGC up to ₹5 lakh per depositor, making them one of the safest investments in India.
Bank FDs are insured by DICGC up to ₹5 lakh per depositor per bank, so your money is protected even if the bank fails. FDs with NBFCs may carry slightly higher risk but often offer better rates. For amounts above ₹5 lakh, spread deposits across multiple banks to maximise insurance cover.
Yes, most banks allow premature withdrawal but charge a penalty of 0.5–1% below the contracted rate. Some banks offer partial withdrawal on request. Tax-saving FDs (5-year lock-in under Section 80C) cannot be broken before maturity under any circumstances.
Most banks allow you to open an FD with as little as ₹1,000, while some accept ₹500 or even ₹100. There is generally no upper limit, though very large deposits (above ₹2 crore) may attract lower rates or require prior approval at certain banks.
FD interest is added to your income and taxed at your applicable slab rate. Banks deduct TDS at 10% when annual interest exceeds ₹40,000 (₹50,000 for senior citizens). If your total income is below the taxable limit, submit Form 15G (or 15H for seniors) to your bank to avoid TDS deduction.
In a cumulative FD, interest is compounded and paid with the principal at maturity, giving higher overall returns. In a non-cumulative FD, interest is paid at regular intervals (monthly, quarterly, or yearly), providing steady income. Cumulative FDs suit wealth creation goals; non-cumulative FDs suit retirees needing regular cash flow.
Yes, most banks offer an extra 0.25%–0.75% interest to senior citizens (age 60+), and some extend even higher rates to super senior citizens (80+). This additional return makes FDs especially attractive for retirees seeking safe, guaranteed income.
Yes, most banks offer an overdraft or loan against FD up to 90–95% of the deposit value, at an interest rate just 1–2% above your FD rate. You keep earning FD interest on the full amount, and the loan is automatically settled at maturity — making it a smart alternative to breaking the deposit.
A tax-saving FD (80C FD) is a 5-year fixed deposit that qualifies for up to ₹1.5 lakh deduction under Section 80C. It carries a mandatory 5-year lock-in with no premature withdrawal allowed. The principal investment is tax-exempt, but the interest earned remains fully taxable as per your income slab.
Monthly compounding yields marginally more than quarterly compounding because interest is reinvested more frequently. For example, on ₹1 lakh at 7% for 3 years, monthly compounding earns roughly ₹150–200 more than quarterly. For maximum wealth accumulation, choose cumulative FDs with the highest available compounding frequency.
If you give no instructions, most banks auto-renew the FD for the same tenure at the prevailing rate, which may differ from your original rate. Some banks credit the maturity amount to your linked savings account instead. Always provide renewal or withdrawal instructions before maturity to avoid unwanted rollovers.
