Fixed Deposit Calculator
Calculate maturity value, total interest and payouts for cumulative and simple fixed deposits. Compare FD tenures and rates for Indian banks.
Maturity amount
₹1,41,477.82
Total interest
₹41,477.82
Over 20 compounding periods
Interest per period
₹1,750
If paid out instead of reinvested
Cumulative FD compounds interest and pays everything at maturity. Interest is taxed per your income slab. Rates vary by bank — verify before investing.
How it works
Cumulative: A = P × (1 + r/n)^(n×t). Simple: interest = P × r × t.
Example: ₹1,00,000 at 7% quarterly for 5 years → ₹1,41,473 maturity.
Last updated: April 2026
How this calculator is verified
Checked by Rahim Virani on
- Maturity computed with quarterly compounding as Indian bank FDs typically quote
- TDS deducted at 30.5% above the threshold rather than flat-rate
- Tenure below one year compounds at the applicable short-term rate
The full verification method is on our how we verify page. Found an error? Tell us and we will re-check it.
When to Use This Calculator
Fixed deposits remain India's most popular savings instrument, and this calculator shows exactly what an FD will be worth at maturity under cumulative and non-cumulative modes. A depositor entering ₹1,00,000 at 7% for 5 years with quarterly compounding sees the maturity value, total interest and the effective annual yield, making it easy to compare an SBI or HDFC offer against a small finance bank quoting 8.5%. Senior citizens can factor in the extra 0.5% most banks pay, and the payout mode shows the monthly or quarterly interest income a retiree can expect. It also makes the TDS picture clearer by separating principal and interest, since the interest portion is taxable income.
How to Use This Calculator
- Step 1: Enter the amount you want to deposit with the bank.
- Step 2: Enter the annual interest rate your bank offers for the chosen tenure.
- Step 3: Select the tenure in years and the compounding frequency, usually quarterly for cumulative FDs.
- Step 4: Read the maturity value, the total interest and, where offered, the periodic payout for a simple-interest deposit.
Worked Example
An investor in Indore puts ₹1,00,000 into a cumulative fixed deposit at 7% per year for 5 years with quarterly compounding. Enter 100000 as the principal, 7 as the annual rate and 5 as the tenure, and select quarterly compounding. The maturity value is about ₹1,41,478, so the interest earned is about ₹41,478. The same amount in a simple-interest FD at 7% for 5 years pays ₹35,000 in interest, which shows why cumulative deposits with quarterly compounding pay more.
Tips and Common Mistakes
- •Tip 1: Senior citizens get 0.25 to 0.50 percentage points more than regular rates at most Indian banks, so use your eligible rate.
- •Tip 2: Interest on FDs above the basic exemption limit is taxable and banks deduct TDS over ₹40,000 per year, so subtract tax when comparing returns.
- •Tip 3: Premature withdrawal usually forfeits part of the interest, so only lock a tenure you can stay invested for.
- ✗Mistake 1: Entering the simple-interest payout mode when you hold a cumulative deposit, which understates the maturity amount.
- ✗Mistake 2: Comparing bank tenures at different rates, since rates rise with tenure; compare at the rate each tenure actually pays.
Frequently Asked Questions
How is FD maturity value calculated?
For a cumulative FD, the maturity value is A = P × (1 + r/n)^(n×t), where r is the annual rate, n is the compounding frequency and t is the term in years. Simple FD pays P × r × t as interest without compounding.
What is the difference between cumulative and non-cumulative FD?
A cumulative FD reinvests the interest and pays everything at maturity, giving a higher effective return. A non-cumulative (simple/payout) FD pays interest periodically — monthly, quarterly or yearly — useful for a regular income stream.
Which banks offer the best FD rates?
There is no single best FD rate: offers vary by bank, tenure, deposit type and senior-citizen status. Compare the effective yield after compounding and tax, then verify the bank's current rate and deposit-insurance terms before investing.
Is FD interest taxable?
Yes. FD interest is added to your income and taxed at your slab rate. Banks deduct TDS at 10% if interest exceeds ₹40,000 in a year (₹50,000 for senior citizens) unless you submit Form 15G/15H.
What is the minimum tenure for an FD?
Most banks offer FDs from 7 days to 10 years. Simple interest applies to short tenures under about 90 days, and compounding starts for longer tenures — which is why this calculator switches behaviour by FD type.
Compare these tools
- Future Value Calculator — Find what your money grows into with compound interest at any frequency
- Gratuity Calculator (India) — Calculate gratuity under the Payment of Gratuity Act, 1972 with the 15/26 formula and the ₹20 lakh tax-exempt cap for Indian employees
- GST Calculator (India) — Add or remove GST from any amount, with CGST + SGST split for intra-state and IGST for inter-state supplies
You might also need
Related calculators from other categories