Fixed Deposit Calculator
Calculate your FD maturity amount and interest earnings with our easy-to-use calculator
Enter FD Details
FD Maturity Details
About FD Calculator
The FD Calculator is a powerful financial tool designed to help you estimate the maturity amount and interest earnings from your fixed deposit investments. Fixed deposits are one of the most popular investment options in India, offering guaranteed returns and capital protection. Our calculator provides accurate calculations based on your investment amount, interest rate, tenure, and payout frequency.
How the FD Calculator Works
The calculator uses the following formula to compute your FD maturity amount:
For simple interest (interest paid out periodically):
Maturity Amount = Principal Amount + (Principal Amount × Interest Rate × Tenure in years)
For compound interest (interest reinvested):
Maturity Amount = Principal Amount × (1 + Interest Rate/Compounding Frequency)^(Compounding Frequency × Tenure in years)
The calculator automatically determines whether to use simple or compound interest based on your selected interest payout frequency. If you choose any option other than “At Maturity,” it uses simple interest. For “At Maturity” option, it uses compound interest with quarterly compounding (standard for most Indian FDs).
Key Features of Our FD Calculator
- Accurate Calculations: Provides precise maturity amount based on your inputs
- Flexible Tenure Options: Calculate for days, months or years
- Multiple Payout Frequencies: Compare different interest payout options
- Real-time Results: Instant calculations as you adjust parameters
- Shareable Results: Easily share your calculations with others
- Mobile-friendly: Works perfectly on all devices
- No Registration Required: Free to use without any signup
How to Use the FD Calculator
- Enter Investment Amount: Input the principal amount you wish to invest in FD
- Set Interest Rate: Adjust the interest rate offered by your bank
- Choose Tenure: Select the duration of your FD investment
- Select Tenure Type: Specify whether the tenure is in days, months or years
- Pick Interest Payout: Choose how often you want to receive interest payments
- View Results: The calculator instantly shows your maturity amount and interest earned
Frequently Asked Questions
A Fixed Deposit is an investment instrument offered by banks and NBFCs where you deposit a lump sum amount for a fixed tenure at a predetermined interest rate. The principal is returned along with interest at maturity.
FD interest can be calculated using simple interest (for periodic payouts) or compound interest (for cumulative FDs where interest is reinvested). Most banks in India compound interest quarterly for cumulative FDs.
The minimum amount varies by bank but typically starts from ₹1,000 for most public sector banks and ₹5,000-10,000 for private banks.
Yes, interest earned from FDs is taxable as per your income tax slab. Banks deduct TDS at 10% if interest exceeds ₹40,000 (₹50,000 for senior citizens) in a financial year.
Yes, but premature withdrawals usually attract a penalty of 0.5-1% on the interest rate. Some banks may not allow withdrawals before a minimum lock-in period.
Cumulative FDs (interest at maturity) generally yield higher returns as interest is compounded. Monthly interest FDs are suitable for those needing regular income but offer lower overall returns.
Bank FDs up to ₹5 lakh are insured by DICGC (Deposit Insurance and Credit Guarantee Corporation). However, returns may not always beat inflation over long periods.
Generally, longer tenures offer higher interest rates. However, interest rate trends should also be considered as locking in long-term during falling rate cycles may not be optimal.
Tips for Maximizing FD Returns
- Compare rates: Different banks offer varying interest rates – compare before investing
- Consider senior citizen rates: Senior citizens typically get 0.25-0.5% higher rates
- Ladder your FDs: Create multiple FDs with staggered maturity dates for liquidity
- Reinvest interest: Opt for cumulative FDs to benefit from compounding
- Check special schemes: Look for special FD schemes during festivals or for specific tenure
- Tax planning: Consider tax-saving FDs under Section 80C for deductions
FD vs Other Investment Options
While FDs offer safety and guaranteed returns, they may not always be the most tax-efficient or high-return option. Compare FD returns with other instruments like:
- Debt Mutual Funds: Potentially higher post-tax returns for investments beyond 3 years
- PPF: Tax-free returns but with longer lock-in (15 years)
- Corporate FDs: Higher rates but with slightly higher risk
- Equity Investments: Higher risk but potential for better long-term returns
Our FD calculator helps you make informed decisions by showing exactly how much your investment will grow under different scenarios. Use it to plan your short-term and long-term financial goals effectively.