FD Calculator
Estimate the maturity amount and interest earned on your Fixed Deposits.
Fixed Deposit (FD) Maturity
A fixed deposit locks a lump sum with a bank or NBFC for a chosen tenure at a quoted rate. Tenures run from seven days to ten years. Senior citizens often get a small rate premium. DICGC covers bank deposits up to ₹5 lakh per depositor per bank.
How to use this calculator
Enter the amount you will place in a single FD tranche. Minimums vary from ₹1,000 at public sector banks to ₹10,000 at some private banks.
Pick tenure and the card rate for that bucket. Rates differ for 364 days, 1 year, 3 years, and 5 years. Confirm whether the bank compounds quarterly, which is standard for most bank FDs in India.
Use the output to compare with debt mutual funds, RBI floating rate bonds, or post office schemes for the same horizon. Remember TDS at 10% when annual interest crosses ₹40,000 (₹50,000 for seniors) unless you file Form 15G or 15H.
Laddering three or four FDs with staggered maturities gives quarterly liquidity without breaking one large deposit early and losing rate benefit.
Tax-saver FDs lock five years and count toward 80C, but interest remains taxable. Compare post-tax yield with PPF or ELSS if the goal is tax saving plus growth rather than fixed income.
FD interest: simple vs compound
Simple interest FD (some short schemes): M = P + (P × r × t / 100) Compound FD (typical bank FD, quarterly): M = P × (1 + r/4)^(4×t) when r is annual % and t is years Example: ₹5 lakh for 3 years at 7.5% compounded quarterly. Maturity ≈ ₹6.24 lakh, interest ≈ ₹1.24 lakh. Same variables at 7.5% simple interest for 3 years would give only ≈ ₹6.13 lakh. Compounding frequency matters.
Frequently Asked Questions
Is FD interest taxable?
Yes, at your income tax slab. Banks deduct 10% TDS if annual interest exceeds ₹40,000 (₹50,000 for senior citizens) unless you submit Form 15G/15H.
Can I break FD early?
Most banks allow premature closure with a penalty of 0.5% to 1% on the applicable rate for the period actually run.
Cumulative vs non-cumulative FD?
Cumulative FD reinvests interest and pays at maturity. Non-cumulative FD pays interest monthly, quarterly, or annually for income needs.
Are all bank FD rates identical?
No. Small finance banks may quote higher rates. Check credit ratings and stay within DICGC insurance limits.
Loan against FD?
Banks lend roughly 85% to 90% of FD value at about 1% to 2% above your FD rate, useful for short cash needs without breaking the deposit.
Simple or compound FD?
Most retail bank FDs compound quarterly. Very short schemes may use simple interest. Read the product term sheet before comparing.
Nomination on FD?
Add a nominee on every FD so claim settlement is straightforward for your family. Joint FDs follow survivorship rules set by the bank at opening.
FD interest payout frequency?
Cumulative FD pays at maturity. Monthly or quarterly payout FDs suit retirees who need regular income but reduce reinvestment compounding.
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