FD calculator

Enter the deposit, the rate your bank offers and the tenure. Most banks compound cumulative FDs every quarter, which this calculator uses by default.

Maturity value
₹1,23,144 (1.23 lakh)
Interest earned₹23,144
Effective yearly yield7.19%

Worked example

₹1,00,000 at 7% for 3 years, compounded quarterly, matures at about ₹1,23,144. The effective yearly yield is about 7.19%.

Questions people ask

How is FD interest calculated?

For a cumulative FD: maturity = P × (1 + r ÷ 4)^(4 × years) with quarterly compounding. For a payout FD, interest is paid out monthly or quarterly instead, so it does not compound.

Is FD interest taxable?

Yes, at your slab rate. Banks deduct TDS when your FD interest with that bank crosses the yearly limit in the Income-tax Act. Submit Form 15G, or 15H if you are 60 or above, if your total income is below the taxable limit.

Is my FD safe?

DICGC insures deposits of up to ₹5 lakh per depositor per bank, including interest, if a bank fails.

Do senior citizens get more?

Most banks pay people aged 60 and above an extra 0.25% to 0.75% a year.

Need help with tax, GST or your accounts?

A tax professional can call you back. Asking is free.

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Results are estimates for information only, not financial or tax advice. Rates, rules and limits change, so check with your bank, employer or a qualified adviser before you decide.