FD Calculator
A fixed deposit pays a fixed interest rate for a fixed period. Most Indian banks compound FD interest quarterly, which is what this calculator uses. Enter your deposit, the rate the bank is offering and the tenure to see the maturity amount and the interest earned.
FD Calculator
How this calculator works
Maturity = P × (1 + r/4)^(4 × t), where P = deposit, r = annual rate as a decimal and t = tenure in years (quarterly compounding).
- Senior citizens usually get an extra 0.25%–0.75% interest — enter that higher rate.
- FD interest is fully taxable as income; TDS applies above the bank threshold.
- Breaking an FD early usually costs a penalty of about 0.5%–1% on the applicable rate.
- Cumulative FDs compound; non-cumulative FDs pay interest out monthly or quarterly instead.
Frequently asked questions
Do banks compound FD interest quarterly?
Most Indian banks compound cumulative FD interest quarterly. Some products compound monthly or pay simple interest for very short tenures, so confirm the compounding on your bank's FD page.
Is FD interest taxable?
Yes. FD interest is added to your income and taxed at your slab rate. Banks deduct TDS once the interest crosses the prescribed limit in a financial year; submit Form 15G/15H if your income is below the taxable limit.
Is a tax-saving FD different?
Yes. A 5-year tax-saving FD has a lock-in and cannot be broken or used as loan collateral, but qualifies for deduction under the old tax regime.
Disclaimer: results are estimates for planning only. Interest rates, tax slabs and government charges change — confirm the final figure with your bank, employer or the official government portal before you act on it.