FD Calculator
Fixed deposit maturity and interest with quarterly (bank default), monthly, half-yearly or yearly compounding and senior citizen rates.
About FD Calculator
This free FD calculator shows the maturity value and interest on a fixed deposit using the method Indian banks follow. Enter the deposit amount, the bank's interest rate and the tenure in years, months and days, and choose the compounding frequency: quarterly, which is the bank default, or monthly, half-yearly or yearly.
Tick senior citizen to add 0.5% to the rate, and choose cumulative interest or a monthly or quarterly payout. It works for any bank or post office time deposit — just enter the current rate. Use it to compare tenures before you book. The calculation runs in your browser.
How to use FD Calculator
- Enter the deposit amount and the bank’s interest rate.
- Set the tenure and compounding frequency (banks use quarterly).
- Tick senior citizen to add 0.5%, and choose cumulative or payout.
Frequently asked questions
How do banks calculate FD interest?
Most Indian banks compound interest quarterly: A = P × (1 + r/4)4t. For deposits under six months, banks usually pay simple interest. A leftover part-quarter earns simple interest for those days.
When is TDS deducted on FD interest?
From 1 April 2025, banks deduct 10% TDS when interest from one bank exceeds ₹50,000 in a financial year (₹1,00,000 for senior citizens); 20% if PAN is not provided. Submit Form 15G (or 15H if 60+) if your total income is below the taxable limit.
How are monthly payouts calculated?
For monthly-income FDs, banks pay the quarterly interest at a discounted monthly equivalent, so each monthly payout is slightly less than one-third of the quarterly payout.
Is FD interest taxable?
Yes, it is added to your income and taxed at your slab rate. Only the 5-year tax-saving FD qualifies for Section 80C (old regime), and it has a lock-in.
How is FD interest calculated?
For cumulative deposits, maturity = P × (1 + r/4)^(4t) with quarterly compounding. Interest is maturity minus the deposit.
How much interest will I get on ₹1 lakh FD for 1 year?
At 7% compounded quarterly, about ₹7,186, giving ₹1,07,186 at maturity.
What is the difference between cumulative and payout FD?
A cumulative FD reinvests interest and pays it at maturity; a payout FD pays interest monthly or quarterly, so it earns less compounding.
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