FD Calculator
Calculate the maturity amount and interest earned on your Fixed Deposit — for all compounding frequencies and Indian bank rates.
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How to use this calculator
- 1
Enter the principal you plan to deposit.
- 2
Enter the annual interest rate quoted on your deposit receipt or the bank’s rate card.
- 3
Set the tenure as years plus extra months; the tool converts the total to a fraction of a year.
- 4
Choose the compounding frequency stated in your FD terms, or simple interest for a payout-style comparison.
Frequently asked questions
Which formula does this tool use?
For compounding options it uses maturity = principal × (1 + rate ÷ n)^(n × t), where n is 12 for monthly, 4 for quarterly, 2 for half-yearly and 1 for annual compounding and t is years plus months ÷ 12. For simple interest it uses principal × (1 + rate × t). Interest earned is maturity minus principal, and everything is shown before tax.
What is the “Effective annual yield” line?
It is the single yearly compound rate that turns the principal into the maturity amount over the tenure, calculated as (maturity ÷ principal)^(1 ÷ t) − 1. For ₹1,00,000 at 7% compounded quarterly it is 7.19%, slightly above the quoted 7%. For annual compounding it equals the quoted rate, and for simple interest over 3 years it is lower than the quoted rate (6.56% for 7%).
Does the tool know which compounding my bank uses?
No. The option labelled quarterly is simply the default; the tool has no bank data. Take the frequency and rate from your own FD terms, because the same quoted rate gives a different maturity under each option.
How are tenures that are not whole quarters handled?
The tool uses the exponent n × t even when it is not a whole number. An 18-month deposit of ₹1,00,000 at 7% compounded quarterly is exactly six quarters and shows ₹1,10,970, but a tenure such as 2 months would be treated as two-thirds of a quarter, whereas some banks pay simple interest for the broken period. Compare with your bank’s own schedule for odd tenures.
Is tax or TDS included?
No. Interest earned and maturity are pre-tax, and the tool does not subtract TDS, advance tax or slab tax. Treatment of FD interest, TDS thresholds and exemption forms depend on current rules and your own income, so check the Income Tax Department or a chartered accountant.
Does it model cumulative and non-cumulative FDs?
It models a cumulative deposit, where interest is reinvested and paid at maturity. A payout FD that sends interest to your account every month or quarter does not compound in this way, so the simple-interest option is the closer comparison for the total interest, though not for the timing.
What happens with zero or blank inputs?
A cleared box counts as 0. A principal of zero or a total tenure of zero returns a maturity of ₹0. A rate of zero returns the principal with zero interest. Premature withdrawal penalties, senior-citizen rate premiums, tax-saver lock-ins and rounding by banks are not modelled.
Fixed deposit maturity: how compounding frequency changes the amount
How the maturity amount is calculated
A cumulative fixed deposit adds interest to the principal at regular intervals, and each addition then earns interest of its own. The tool applies that idea with the standard compound-interest formula: the quoted annual rate is divided by the number of periods per year, and the result is raised to the number of periods in the tenure. Tenure is years plus months divided by 12, so 5 years and 6 months is treated as 5.5 years. Choosing simple interest removes the compounding and multiplies principal by rate and time instead. Interest figures are before any tax, and the tool does not know your bank, so the rate and frequency must come from your own deposit terms.
Same deposit, five compounding choices
The table fixes the deposit at ₹1,00,000 for 3 years at 7% and changes only the compounding option. Monthly compounding yields ₹23,293 of interest, quarterly yields ₹23,144, half-yearly ₹22,926 and annual ₹22,504, while simple interest yields exactly ₹21,000. The gap between the most and least frequent compounding is only ₹789 on this deposit, but the gap to simple interest is larger and grows with tenure.
| Compounding option | Maturity amount | Interest earned | Effective annual yield |
|---|---|---|---|
| Monthly | ₹1,23,293 | ₹23,293 | 7.23% p.a. |
| Quarterly | ₹1,23,144 | ₹23,144 | 7.19% p.a. |
| Half-yearly | ₹1,22,926 | ₹22,926 | 7.12% p.a. |
| Annually | ₹1,22,504 | ₹22,504 | 7.00% p.a. |
| Simple interest | ₹1,21,000 | ₹21,000 | 6.56% p.a. |
Two more worked examples
A deposit of ₹5,00,000 at 6.5% for 5 years and 6 months with monthly compounding grows to ₹7,14,186, so the interest earned is ₹2,14,186 and the effective annual yield is 6.70%. A ₹2,50,000 deposit at 7.5% for 2 years on simple interest returns ₹2,87,500, which is ₹37,500 of interest. For a shorter case, ₹1,00,000 at 7% for 18 months compounded quarterly reaches ₹1,10,970. In every case the figures come directly from the tool with the inputs stated, and none of them include tax.
Reading the effective yield line
The effective annual yield answers a narrow question: what single yearly rate would produce the same maturity? It rises with compounding frequency and, for simple interest, falls below the quoted rate as the tenure lengthens, because later years earn no interest on earlier interest. It is useful for comparing two quotes that compound differently, such as a monthly-compounded deposit against an annual one. It is not an after-tax or after-inflation return.
What the tool does not cover
Premature withdrawal penalties, interest payouts instead of reinvestment, senior-citizen rate premiums, TDS and slab tax, bank-specific rounding and day-count conventions are outside the calculation. Tenures that do not match a whole number of compounding periods are handled with a fractional exponent. Tax rules and limits for deposit interest change from time to time and the tool does not update them, so confirm with your bank, the Income Tax Department or a chartered accountant.
Learn more from an authoritative source:
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Results are estimates for informational purposes only and do not constitute professional financial, medical, legal, or technical advice. Read full disclaimer →