FD calculator
Calculate what a fixed deposit matures to, with the compounding frequency your bank actually uses — and see the effective yield, which is higher than the advertised rate.
- Nothing stored
- No sign-in
- Works offline
Calculate your FD maturity
Why quarterly compounding matters
Most Indian banks credit interest to a fixed deposit every quarter, and from that point it earns interest itself. The effect is that the yield you actually receive is slightly above the advertised rate — a deposit at 7% compounded quarterly returns about 7.19% a year in practice. The result above shows both figures, so you can see the gap on your own numbers.
For tenures under six months, banks generally pay simple interest with no compounding at all. Choose that option if your deposit is short.
Cumulative and non-cumulative deposits
This calculator assumes a cumulative deposit, where interest stays in the account and compounds until maturity. A non-cumulative deposit pays the interest out monthly or quarterly instead, which means nothing compounds and the total you receive is lower. The trade is income now against a larger sum later.
Tax, and why the payout is smaller than this
FD interest is fully taxable at your slab rate, and it is taxed in the year it accrues rather than the year you receive it. Banks deduct TDS once interest crosses the annual threshold, which reduces what lands in your account without reducing what you owe. For anyone in a higher slab, the post-tax return on a fixed deposit is often close to or below inflation — worth checking before locking money away.
Breaking a deposit early
Premature withdrawal usually means the bank recalculates the whole period at the rate applicable to the shorter tenure actually served, then subtracts a penalty of around half to one per cent. The figure here assumes you hold to maturity.
Frequently asked questions
Is the calculated maturity amount before or after tax?
Before tax. FD interest is taxable at your income slab rate, and banks deduct TDS once the interest crosses the annual threshold. Your actual receipt will be lower.
Which compounding frequency should I choose?
Quarterly, unless your bank says otherwise — it is the default for most Indian fixed deposits. Use simple interest for tenures below six months, which is how banks treat them.
Why is the effective yield higher than the interest rate?
Because interest credited during the term starts earning interest itself. The advertised rate is the nominal annual rate; the effective yield is what compounding turns it into.
Does this work for a tax-saving FD?
The maturity arithmetic is the same. Remember that a five-year tax-saving FD is locked for the full term with no premature withdrawal, and the interest remains taxable even though the deposit qualifies for a deduction.
What about senior citizen rates?
Just enter the higher rate your bank offers. Senior citizen deposits typically carry an extra 0.25 to 0.5 per cent.