FD Calculator

FD calculator with quarterly compounding and payouts

A fixed deposit (FD) locks a sum of money with a bank or NBFC for a fixed tenure at a fixed rate. This FD calculator shows the maturity amount, the total interest and the effective annual yield for any deposit, using the quarterly compounding that Indian banks apply to cumulative deposits.

If you prefer regular income, switch to a monthly or quarterly payout (non-cumulative) FD to see the interest you will receive each period. Tenures can be entered in years, months and days, a senior citizen FD option adds the extra rate your bank pays (0.50% by default, editable) and shows what it earns, and a year-by-year table shows how the interest builds up.

The tool works in rupees by default with lakh/crore formatting, and in other currencies for term deposits elsewhere; for US certificates of deposit quoted in APY, use the CD calculator. Banks round and compute broken periods in slightly different ways, so treat the results as close estimates, not financial advice — your FD receipt shows the exact figure.

How to use the FD Calculator

1. Choose your currency and enter the Deposit amount.
2. Type the bank’s Interest rate (p.a.); tick Senior citizen and enter the bank’s extra rate if you are 60 or older.
3. Set the Tenure in years, months and days.
4. Under Interest payout, choose Cumulative (interest reinvested and paid at maturity) or a Monthly / Quarterly payout. For cumulative deposits, keep the bank-standard compounding or pick monthly, half-yearly, yearly or simple interest.
5. Read the maturity amount or payout, the total interest and the effective annual yield, plus the tax note.
6. Check the year-by-year table and download it as CSV if you want to keep a record.

FD Calculator features

FD formula and worked example

For a cumulative FD the maturity amount is A = P × (1 + r/n)n·t, where P is the deposit, r the annual rate as a decimal, n the compounding periods per year (4 for quarterly) and t the tenure in years. When the tenure is not a whole number of quarters, the calculator compounds the complete quarters and adds simple interest for the remaining days: A = P × (1 + r/4)^q × (1 + r/4 × f).

Example: ₹1,00,000 at 7% for 5 years compounded quarterly gives A = 1,00,000 × (1.0175)²⁰ ≈ ₹1,41,478, so the interest is ₹41,478 and the effective annual yield is 7.186%. As a senior citizen at 7.5%, the same deposit would mature at about ₹1,44,995. For 1 year 6 months 15 days at 7%, six full quarters plus 15 days of simple interest give about ₹1,11,289.

Non-cumulative deposits pay interest out instead: a quarterly payout is P × r ÷ 4 (₹1,750 a quarter in the example), and a monthly payout is the quarterly interest discounted to a monthly figure, P × (r/4) × (r/12) ÷ ((1 + r/12)³ − 1), or ₹579.94 a month.

Effect of compounding frequency (₹1 lakh at 7% for 5 years)

Senior citizen rates, TDS and other things to know

• Senior citizen rates: most Indian banks pay depositors aged 60+ about 0.25%–0.75% extra, commonly 0.50%; some add more for super seniors (80+) or special tenures. Rates are bank-specific, so take the figure from your bank’s current senior-citizen rate card.
• TDS: banks deduct tax at source (usually 10% with PAN) once your FD interest with that bank crosses the yearly threshold — ₹50,000 for most depositors and ₹1,00,000 for senior citizens (Finance Act, 2025; now section 393 of the Income-tax Act, 2025, ex-194A). Eligible depositors can submit Form 121, which replaced Forms 15G and 15H. Interest is taxable at your slab rate either way, but under the old regime a senior citizen can deduct up to ₹50,000 of bank, co-operative and post-office deposit interest a year (section 153, ex-80TTB).
• Premature withdrawal usually costs a penalty of around 0.5%–1% on the rate applicable for the period the money stayed.
• Tax-saver FDs have a 5-year lock-in and qualify for a deduction only under the old tax regime.
• Deposits in Indian banks are insured by DICGC up to ₹5 lakh per depositor per bank, including interest.
• The Senior Citizens Savings Scheme is a separate government scheme, not a bank FD — compare it in the post office savings calculator. Saving monthly instead? Try the RD calculator; for a tax-free long-term option, the PPF calculator; and to compare with market investments, the lumpsum calculator.