Calculators
FD Calculator
Enter the deposit, the bank’s interest rate and the tenure in years, months and days. See the maturity amount for a cumulative FD, or the interest you would receive on a payout FD.
Maturity amount after 3 years
₹1,21,699
about 1.22 lakh
- Deposit
- ₹1,00,000
- Interest earned
- ₹21,699
- Rate used
- 6.6%effective 6.77% a year
Year-by-year growth
| Year | Opening | Interest | Closing |
|---|---|---|---|
| 1 | ₹1,00,000 | ₹6,765 | ₹1,06,765 |
| 2 | ₹1,06,765 | ₹7,223 | ₹1,13,988 |
| 3 | ₹1,13,988 | ₹7,711 | ₹1,21,699 |
Number format
Formula: maturity = P × (1 + r/f)f × t, with f = compounding periods a year (4 for quarterly) and t = years. Whole periods compound; a leftover part earns simple interest on the grown balance, with days counted as 1/365 of a year.
Interest is before tax. FD interest is taxable, and banks deduct TDS once your interest crosses the yearly threshold unless you have submitted the no-deduction declaration. Banks count actual calendar days and round differently, so your deposit receipt may differ by a few rupees.
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Frequently asked questions
How is FD maturity calculated?
For a cumulative FD, maturity = P × (1 + r/4)^(4 × t) with quarterly compounding, where P is the deposit, r the yearly rate and t the tenure in years. For example, ₹1,00,000 at 6.60% for 3 years grows to about ₹1,21,699, which matches ICICI Bank’s published example. For a tenure that is not a whole number of quarters, whole quarters compound and the remaining days earn simple interest on the grown balance.
Do Indian banks compound FD interest quarterly?
For most bank FDs, yes. Banks such as ICICI Bank and Axis Bank state that deposits of 6 months or more compound quarterly, and shorter deposits earn simple interest. That is the default here. Some deposits, including certain corporate FDs, compound monthly or yearly, so you can change the compounding if your deposit terms say so.
How much interest does a monthly or quarterly payout FD pay?
A quarterly payout FD pays simple interest on the deposit every quarter: deposit × rate ÷ 4. ₹1,00,000 at 7.2% pays ₹1,800 a quarter. For monthly payouts, banks apply a slightly discounted rate, so you receive a little less than deposit × rate ÷ 12 (₹600 in this example). The exact discount varies by bank, so the calculator shows the plain figure as an upper estimate.
Do senior citizens get a higher FD rate?
Most banks pay depositors aged 60 and above an extra rate on top of the regular card rate. The premium differs by bank and tenure, so check your bank’s current rate card and enter the extra percentage points in the calculator.
Is FD interest taxable, and is TDS deducted?
Yes. FD interest is added to your income and taxed at your slab rate. Banks deduct TDS once the interest they pay you in a financial year crosses a threshold, unless you have submitted the declaration for no deduction. TDS is only an advance payment: your actual tax depends on your total income. The amounts shown here are before tax.
Why might my bank’s maturity amount differ slightly?
Banks count the actual calendar days of your deposit, including leap years, and round interest in their own way. The calculator counts a day as 1/365 of a year, so results usually agree to within a rupee or two. With ₹5,00,000 at 6.50% for 3 years and 1 day it gives ₹6,06,812, the same as ICICI Bank’s calculator.
About this tool
This FD calculator shows what a bank fixed deposit pays. For a cumulative FD, where interest is reinvested until maturity, it gives the maturity amount, the interest earned and the effective yearly yield. For a payout FD, it gives the interest paid each quarter or each month and the total over the tenure, with the deposit returned at maturity. Tenure can be entered as any combination of years, months and days, and amounts are shown in lakh and crore or in international format.
Interest is compounded quarterly by default because that is how most Indian banks calculate cumulative FDs: ICICI Bank and Axis Bank both state that deposits of 6 months or more compound quarterly and shorter ones earn simple interest (checked 24 September 2026). The formula is maturity = P × (1 + r/f)^(f × t), with f = 4 for quarterly. Monthly, half-yearly, yearly and simple interest are available for deposits with other terms. The calculator reproduces ICICI Bank’s published example of ₹1,00,000 at 6.60% for 3 years giving about ₹1,21,699.
Payout FDs do not compound: the quarterly payout is simple interest, deposit × rate ÷ 4. SBI, ICICI Bank and Axis Bank all note that the monthly payout option uses a discounted rate, so the monthly figure here, deposit × rate ÷ 12, is the most you would receive; the bank’s actual monthly credit is slightly lower.
Senior citizens usually get extra percentage points on the card rate; tick the option and enter your bank’s premium. Results are before tax. FD interest is taxable at your slab rate, and banks deduct TDS once your yearly interest crosses the threshold set by the Income-tax law, unless you file the no-deduction declaration. The calculator does not advise on which deposit or bank to choose. Everything runs in your browser.