FD Calculator
Calculate Fixed Deposit Interest and Maturity Online
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Total Interest Earned
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Maturity Amount
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Maturity Date
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Rate of Interest (%) p.a
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Formula Used
A = P(1 + r/n)^(nt)
Where A is the maturity amount, P is the principal, r is the yearly interest rate in decimal form, n is the number of compounding periods per year and t is the term in years.
What is a Fixed Deposit?
One of the reliable ways for Indian investors to save money is with a fixed deposit. When you open an FD, you put a set amount of money into a bank or other financial institution for a set duration at a fixed interest rate.
A fixed deposit locks in your interest rate at the time of investment, unlike a savings account, where interest rates change. FDs are a great way to plan your finances because you will know exactly how much money you will have at the end of the term. Fixed deposits held with DICGC-insured banks are protected up to Rs 5 lakh per depositor per bank, including principal and accrued interest, subject to DICGC rules.
What is an FD Calculator?
An FD Calculator is a free online tool that allows you to estimate the maturity amount and total interest earned on a fixed deposit before you invest. It automatically calculates your returns based on your deposit amount, interest rate, tenure and compounding frequency, eliminating the need for manual computation.
The Fixed Deposit Calculator on this website is created to provide you with a comprehensive understanding of your financial outcome. Instead of trying to go through difficult compound interest computations on your own, simply enter four basic parameters and receive a detailed breakdown of your earnings.
The FD interest calculator allows you to analyze multiple scenarios side by side. You can change the tenure to see how a longer lock-in impacts your returns, turn the senior citizen rate to see the added benefit, or switch between compounding frequencies to see how reinvestment gaps influence your final maturity value. All of this takes seconds and requires no financial knowledge.
Its good to know: The calculator does not use the interest rate of any one specific bank by default unless stated otherwise. It works based on the rate entered or selected by the user. This makes it useful for comparing different FD scenarios across banks, tenures, senior citizen rates, and compounding frequencies in one place.
How to Use the FD Calculator
Using the FD Calculator is simple. Follow these six steps to get your results:
- Choose your customer type: Select between Regular and Senior Citizen. Most banks provide senior citizens an additional 0.25% to 0.50% interest rate.
- Enter the deposit amount: Fill in the lump sum amount you intend to invest. You can use the slider or enter the amount directly in the input field.
- Select your tenure: Select the period of your fixed deposit in months or years. Most banks provide terms ranging from seven days to ten years.
- Select your interest rate: Enter the applicable yearly interest rate. For current actual rates, see the bank-wise rate comparison chart below this page.
- Select your compounding frequency: Choose how often interest is compounded, such as monthly, quarterly, semi-annually, or annually. Most Indian banks compound regular FDs quarterly.
- View the results: The calculator provides your maturity amount, total interest earned, and a graphical breakdown of principal and interest. You can change any input, and the results will update in real time.
FD Interest Calculation Formula
The interest on a fixed deposit and the total value of your investment are calculated in one of two ways, depending on the deposit tenure and the bank's policy.
Simple Interest Formula for FD
For short-term FDs of up to six months, simple interest is usually used. Throughout the tenure, interest is calculated only on the original principal amount.
Simple interest formula is: A = P + (P x R x T / 100). Where A is the maturity amount, P is the principal amount, R is the yearly interest rate and T is the number of years.
Compound Interest Formula for FD
Compound interest is generally applicable to FDs with a tenure of more than six months. Most Indian banks use quarterly compounding for standard fixed deposits.
Compound Interest Formula: A = P (1 + r/n)^(n x t). Where A is the maturity amount, P is the principal, r is the yearly interest rate in decimal form, n is the number of compounding periods per year and t is the term in years.
Simple Interest vs Compound Interest on FD
The table below uses an illustrative example to compare simple interest and compound interest for the same principal amount, interest rate, and tenure. Compound interest typically generates higher returns because interest is earned on both the principal and the accumulated interest.
| Factors | Simple Interest | Compound Interest (Quarterly) | Difference |
|---|---|---|---|
| Principal | Rs. 1 lakh | Rs. 1 lakh | Same |
| Rate | 7% pa | 7% pa | Same |
| Tenure | 3 years | 3 years | Same |
| Interest Earned | Rs. 21,000 | Rs. 23,144 | Rs. 2,144 more with CI |
| Maturity Amount | Rs. 1,21,000 | Rs. 1,23,144 | CI gives higher returns |
Key Takeaway
Even when the headline rate stays the same, compound interest always surpasses simple interest over a longer period of time. The longer you stay, the more you benefit from compounding. This is why putting money into a long-term FD with a high interest rate can significantly increase your overall returns.
Its good to know: The calculator does not use the interest rate of any one specific bank by default unless stated otherwise. It works based on the rate entered or selected by the user. This makes it useful for comparing different FD scenarios across banks, tenures, senior citizen rates, and compounding frequencies in one place.
Types of Fixed Deposits
| FD Type | How It Works | Best For |
|---|---|---|
| Standard FD | Fixed tenure and rate, lump sum deposit, compound interest paid upon maturity. | General and goal-based savings. |
| Tax-Saving FD | 5-year lock-in, eligible for deduction up to Rs 1.5 lakh under Section 80C and no premature withdrawal. | Tax planning for investors who fall under higher tax brackets. |
| Senior Citizen FD | Higher interest rate, same structure as normal FD and Section 80TTB benefit. | For 60 years and above. |
| Cumulative FD | Interest is reinvested and compounded during the duration, with full payment at maturity. | Investors who do not require regular income from the FD. |
| Non-Cumulative FD | Interest is paid out on a regular basis that is, monthly, quarterly, half-yearly or annually. | Retirees or investors who require a consistent and periodic income stream. |
| Flexi FD | Linked to a savings account, allows regular transfer of surplus funds into an FD for better returns. | Investors aiming for higher returns without compromising on liquidity. |
| Corporate FD | NBFCs and firms offer better rates than bank FDs, but at a higher risk. | Investors who are willing to take moderate risks and want to earn higher returns. |
Cumulative vs Non-Cumulative FD
This is one of the most common decisions that FD investors need to decide between. Both alternatives have the same headline interest rate, but their payout structures differ which has a direct impact on your overall returns.
In a cumulative FD, the interest earned during each period is added back to the principal and compounded throughout the whole duration. When the investment matures, you will receive the total amount invested. This reinvestment influences higher total returns, particularly over a longer time span. Cumulative FDs are appropriate for investors who do not require monthly income from their deposits and prefer to optimize their corpus instead.
A non-cumulative FD pays out interest at the frequency you specify, which is usually monthly, quarterly, semi-annually or annually. Since the interest is not reinvested, the overall payout is less than the cumulative FD over the same period. It is usually considered by retirees or those who rely on FD interest to cover monthly expenses.
| Factor | Cumulative FD | Non-Cumulative FD |
|---|---|---|
| Interest Payout | At maturity (reinvested continuously) | Monthly, quarterly, semi-annual or annual. |
| Total Returns | Higher owing to the compounding impact. | Lower since interest is not reinvested. |
| Liquidity | Lower during tenure. | Consistent income throughout term. |
| Best for | Wealth creation, goal-based savings | Regular income, retirees and monthly expenses |
| Example: With 5 Lakh and 7% and 3-year tenure | Maturity amount - Rs. 6,16,000 approx. | Qtr. payout - Rs. 8,750 approx. |
Benefits of Using an FD Calculatorrrrr
Using an FD calculator before investing is an easy step that can have a huge impact on your financial planning. Here's why you should use it every time:
- Instant and precise results: The calculator performs compound interest computations in real time, providing accurate maturity and interest figures without manual computation or the possibility of calculation errors.
- Compare different banks and scenarios: You can compare the same deposit amount across different interest rates to see what different banks have to offer and choose the best option for your needs.
- Analyze different tenures: Changing the tenure shows you exactly how the maturity amount differs, allowing you to select between short-term flexibility and long-term growth.
- Prepare for specific goals: Whether you are saving for a home, a child's school or a retirement fund, the calculator can help you work backwards from a target amount to calculate the necessary payment.
- Senior citizen rate comparison: Select the senior citizen option to immediately see the advantage of the higher rate available to investors aged 60 and up.
- Consider compounding frequency: The calculator displays the difference between monthly, quarterly, semi-annual and annual compounding for the same rate and duration.
- No registration or login is required: The tool is fully free and open to anybody. You may use it as many times as necessary without revealing any personal information.
- Supports tax planning: Knowing your actual interest income ahead of time allows you to prepare for TDS deductions and determine whether Form 15G or 15H is best for your tax situation.
Factors Affecting FD Interest Rates
| Factors | How It Affects Rates | What to Watch For |
|---|---|---|
| RBI Repo Rate | When the RBI increases the repo rate, banks usually increase FD rates to draw more deposits. | Consider locking in a longer-term FD during rate hike cycles. |
| Deposit Tenure | Rates vary substantially with tenure. Some banks provide peak rates for particular tenures, such as 400 or 555 days. | Before making your decision, compare rates across all tenures. |
| Deposit Amount | Bulk deposits in excess of a threshold may attract different rates from retail deposits. | Check if your amount is eligible for a special rate slab. |
| Bank Type | Public sector banks often give slightly lower rates than private banks and NBFCs. | Always verify DICGC coverage and credit rating for NBFCs. |
| Customer Age | Senior adults above the age of 60 receive 0.25% to 0.50% extra interest at most banks. | Super senior citizen rates above the age of 80 may be much higher at some banks. |
| Economic Conditions | Deposit rates are influenced by inflation and the banking system's overall liquidity. | FD rates tend to climb in high inflation conditions. |
FD Interest Rates Comparison (2026)
| Bank or NBFC | 1 Year (Reg) | 1 Year (Senior Citizen) | 2 Year (Reg) | 3 Year (Reg) | 5 Year (Reg) | 5 Year (SC) |
|---|---|---|---|---|---|---|
| SBI | 6.80% | 7.30% | 7.00% | 6.75% | 6.50% | 7.00% |
| HDFC Bank | 6.60% | 7.10% | 7.00% | 7.00% | 7.00% | 7.50% |
| ICICI Bank | 6.70% | 7.20% | 7.00% | 7.00% | 7.00% | 7.50% |
| Axis Bank | 6.70% | 7.20% | 7.10% | 7.10% | 7.00% | 7.75% |
| PNB | 6.80% | 7.30% | 6.80% | 6.80% | 6.50% | 7.00% |
| Kotak Mahindra | 7.10% | 7.60% | 7.10% | 7.10% | 6.20% | 6.70% |
| Bajaj Finance | 7.40% | 7.65% | 7.45% | 7.50% | 7.40% | 7.65% |
| Shriram Finance | 8.00% | 8.50% | 8.10% | 8.15% | 8.28% | 8.78% |
Official FD/deposit rate pages of SBI, HDFC Bank, ICICI Bank, Axis Bank, Punjab National Bank, Kotak Mahindra Bank, Bajaj Finance, and Shriram Finance as on March, 2026.
Tax on Fixed Deposit Interest
FD interest income is taxed in India. It is added to your overall income for the year and taxed at the appropriate income tax slab rate. Understanding how FD taxation works allows you to better manage your investments as well as avoid unexpected deductions.
Banks deduct Tax Deducted at Source (TDS) on FD interest when the total interest income exceeds the yearly threshold. The current rules are as follows.
| Parameter | Regular Depositor | Senior Citizen |
|---|---|---|
| TDS Threshold per annum | Rs 50,000 | Rs 1 lakh (from FY 2025-26) |
| TDS Rate with PAN | 10% | 10% |
| TDS Rate without PAN | 20% | 20% |
| Form to Avoid TDS | Form 15G | Form 15H |
| Eligibility for Form | Below 60 years, total income below the taxable limit | 60 years and above, total income below the taxable limit |
It is important to note that TDS is deducted by the bank instead of the government. Even if TDS is not deducted (because your interest is less than the threshold), you must record FD interest income on your income tax return and pay tax at the applicable slab rate.
Tax-Saving Fixed Deposit
A tax-saving FD is a form of fixed deposit that allows for a deduction of up to Rs 1.5 lakh every financial year under Section 80C of the Income Tax Act (now moved to Section 123 in new Act). Here's what you should know before investing:
- The minimum lock-in time is five years. Premature withdrawal is not permitted in any circumstances.
- The deduction is exclusively available to individual investors and Hindu Undivided Families.
- Joint accounts are eligible only if the primary account holder claims the deduction.
- The interest on a tax-saving FD is fully taxable and subject to TDS when applicable.
- Even though the interest is taxable, the applicable deduction on the principal can result in overall tax savings for investors in higher tax brackets.
- Available at all scheduled commercial banks. Rates are similar to conventional FD rates for the same duration.
Section 80TTB for Senior Citizens
Senior citizens can claim deduction up to Rs 50,000 per year in interest income under Section 80TTB. This is in addition to the higher TDS threshold of Rs 1 lakh that will be effective in fiscal year 2025-26, making FDs particularly tax-efficient for senior investors.
FD Laddering Strategy
FD laddering is an investing technique that involves splitting a lump sum amount across many fixed deposits with staggered maturity dates rather than placing it all into a single long-term FD. It is a simple yet effective strategy for balancing increased returns with consistent liquidity.
The main principle is straightforward. Instead of investing Rs 5 lakh in a single 5-year FD and losing access to your money for the entire time, you divide the amount into five individual FDs of Rs 1 lakh each, maturing in one year, two years, three years, four years, and five years, respectively.
| FD | Amount | Tenure | Rate (Indicative) | Maturity Year |
|---|---|---|---|---|
| FD 1 | Rs 1 lakh | 1 Year | 6.80% | 2027 |
| FD 2 | Rs 1 lakh | 2 Years | 7.00% | 2028 |
| FD 3 | Rs 1 lakh | 3 Years | 7.10% | 2029 |
| FD 4 | Rs 1 lakh | 4 Years | 7.10% | 2030 |
| FD 5 | Rs 1 lakh | 5 Years | 7.00% | 2031 |
Benefits of FD laddering
- Regular liquidity: Each year, one FD matures, allowing you to withdraw assets without paying penalties.
- Reinvestment flexibility: When an FD matures, you can reinvest at the current rate and potentially profit from rate increases
- Reduces reinvestment risk: If interest rates fall, just a portion of your savings are reinvested at lower rates, rather than the entire amount.
- Psychological comfort: Knowing that a portion of your money is available each year reduces the discomfort of long lock-in periods.
