FD Calculator
Calculate your Fixed Deposit maturity amount and interest earned. Free FD calculator with quarterly compounding for Indian banks.
Fixed Deposit
Calculate your guaranteed returns with tax estimation
Net Maturity Amount
₹7,24,974
Total Interest
₹2,24,974
TDS Estimated
₹0
Indian FD Insights
Most Indian banks compound interest quarterly. The TDS threshold is ₹40,000 for regular depositors and ₹50,000 for senior citizens per financial year.
Understanding FD Returns
A Fixed Deposit is a low-risk investment where you park a lump sum for a specific period at a fixed interest rate. It offers higher returns than a savings account.
Our calculator follows the Quarterly Compounding method, which is the standard practice for most Indian banks like SBI, HDFC, and ICICI.
The FD Formula
Key FD Features
Senior Citizen Benefit
Usually 0.50% higher interest rate than regular accounts.
TDS Rules
10% TDS if interest income exceeds ₹40k (₹50k for seniors).
Tax Saving FD
5-year lock-in FD offers tax deduction under Section 80C.
Liquidity
You can take a loan up to 90-95% of the FD value if needed.
What is FD Calculator?
An FD (Fixed Deposit) calculator helps you estimate the maturity amount and interest earned on your fixed deposit investment. It accounts for quarterly compounding, which is the standard practice in Indian banks.
How It Works
The calculator applies the compound interest formula with quarterly compounding frequency. Interest is calculated on the principal plus previously accumulated interest every quarter.
Formula & Calculation Method
Where: A = Maturity amount, P = Principal amount, r = Annual interest rate (in percent), t = Time period in years, 4 = Quarterly compounding frequency
Examples
Standard FD
1Quarterly rate: 7/400 = 0.0175
2Total quarters: 12
3A = 100000 × (1.0175)^12
4Maturity: ₹1,23,141
5Interest: ₹23,141
Maturity Amount: ₹1,23,141
Senior Citizen FD
1Quarterly rate: 7.5/400 = 0.01875
2Total quarters: 20
3A = 500000 × (1.01875)^20
4Maturity: ₹7,28,483
5Interest: ₹2,28,483
Maturity Amount: ₹7,28,483
Benefits
- 1Guaranteed returns
- 2Capital protection
- 3Flexible tenures (7 days to 10 years)
- 4Higher rates for senior citizens
- 5Loan against FD facility
Common Use Cases
Expert Tips
- 1Compare rates across banks before investing
- 2Use cumulative FD for better returns
- 3Submit Form 15G/15H to avoid TDS
- 4Consider FD laddering for liquidity
- 5Book FDs in multiple banks within DICGC limit
Common Mistakes to Avoid
- !Breaking FD prematurely
- !Not comparing bank rates
- !Ignoring TDS implications
- !Choosing wrong tenure
- !Not submitting Form 15G/15H
Frequently Asked Questions
Find answers to common questions about this calculator below.
In India, FD interest is typically compounded quarterly. The formula is: A = P × (1 + r/400)^(4×t), where P is principal, r is annual rate, and t is tenure in years.
At 7% per annum compounded quarterly, ₹1 lakh FD matures to approximately ₹1,07,186 in 1 year, earning ₹7,186 in interest.
TDS on FD interest is 10% if interest exceeds ₹40,000 per year (₹50,000 for senior citizens). If you haven't submitted Form 15G/15H, TDS is deducted at 10% (20% if PAN is not provided).
Yes, most banks offer 0.25% to 0.75% higher interest rates to senior citizens. For example, if the standard rate is 7%, senior citizens may get 7.5% on the same FD.
You can submit Form 15G (for individuals under 60) or Form 15H (for senior citizens) to your bank if your total income is below the taxable limit. This allows the bank not to deduct TDS on your FD interest.
Cumulative FD reinvests the interest and pays the total amount at maturity, resulting in higher returns. Non-cumulative FD pays interest periodically (monthly, quarterly, or annually) and the principal is returned at maturity.
As of 2025-26, small finance banks offer the highest FD rates up to 8-9%, while major banks offer 6.5-7.5%. However, deposits up to ₹5 lakh are insured by DICGC even with small finance banks.
FDs offer guaranteed returns and capital protection, making them suitable for short-term goals (1-3 years). Mutual funds offer potentially higher returns but with market risk. A balanced approach using both is often recommended.
Premature withdrawal of FD typically incurs a penalty of 0.5% to 1% on the applicable interest rate. Some banks may also reduce the interest rate to the savings account rate for the period the FD was held.
Yes, NRIs can open FDs through NRE (Non-Resident External) or NRO (Non-Resident Ordinary) accounts. NRE FD interest is tax-free in India, while NRO FD interest is taxable.