FD Calculator
Plan your investment returns instantly.
Total Maturity Value
₹1,42,000
Invested
₹1,00,000
Returns
₹42,000
Fixed Deposit (FD) Calculator: Calculate Maturity & Interest Instantly
Fixed Deposits (FDs) are one of India's most trusted investment options, offering guaranteed returns and capital safety. However, calculating the exact maturity amount manually can be complex due to quarterly compounding. Our Free FD Calculator eliminates the guesswork, helping you plan your financial goals with precision.
How to Use This FD Calculator?
Our tool is designed for simplicity. You don't need to be a financial expert to use it. Just follow these three steps:
- 1. Enter Investment Amount: Input the total principal amount you wish to invest (e.g., ₹1,00,000).
- 2. Select Interest Rate: Enter the annual interest rate offered by your bank. (Note: Senior citizens typically get 0.50% extra).
- 3. Choose Tenure: Select how many years you want to keep your money invested.
Once you adjust the sliders, the calculator instantly updates your Total Maturity Value and shows a visual breakdown of your principal vs. profit.
How is FD Interest Calculated?
Unlike simple interest, most Bank FDs in India use the Compound Interest formula. This means you earn "interest on interest." The standard compounding frequency is Quarterly (every 3 months).
The formula used by this calculator is:
- A: Maturity Amount
- P: Principal Amount
- r: Rate of Interest (in decimals)
- n: Compounding frequency (4 for Quarterly)
- t: Time in years
Why Should You Use an FD Calculator?
While you can use Excel or a pen and paper, an online calculator offers several advantages:
- Accuracy: Eliminates human error in complex exponential calculations.
- Comparison: Quickly compare returns from different banks (e.g., SBI vs. HDFC vs. ICICI) by simply changing the rate slider.
- Financial Planning: Helps you determine exactly how much you need to invest today to reach a specific goal (like buying a car or funding a wedding) in 5 years.
Factors Affecting Your FD Returns
To maximize your returns, keep these factors in mind:
- Deposit Tenure: Generally, longer tenures (1-5 years) offer higher interest rates than short-term deposits (7-14 days).
- Age Factor: Senior Citizens (above 60 years) usually receive a higher interest rate (usually 0.50% to 0.75% higher).
- Compounding Frequency: While quarterly is standard, some corporate FDs may offer yearly compounding, which yields slightly lower returns.
Frequently Asked Questions (FAQ)
Is FD interest taxable?
Yes, interest earned on Fixed Deposits is fully taxable. It is added to your annual income and taxed according to your income tax slab. If interest income exceeds ₹40,000 (₹50,000 for senior citizens) in a financial year, the bank deducts TDS (Tax Deducted at Source).
What is the difference between Cumulative and Non-Cumulative FD?
In a Cumulative FD, the interest is reinvested and paid out at maturity (giving you the benefit of compounding). In a Non-Cumulative FD, the interest is paid out regularly (monthly, quarterly, or yearly), which is ideal for pensioners looking for regular income.
Is this calculator accurate for all banks?
Yes, this calculator uses the standardized formula used by all major Indian banks (SBI, HDFC, ICICI, Axis, Punjab National Bank, etc.) for quarterly compounded FDs.