FD Calculator India - Fixed Deposit Maturity & Returns
Calculate Fixed Deposit maturity amount, interest earned, and effective yield for different compounding frequencies. Compare FD rates across tenures.
About this calculator
A fixed deposit pays a guaranteed rate for a fixed term, which makes it the default safe choice for Indian savers. This calculator shows the maturity amount, the interest you earn, the tax on that interest and the effective yield, for the compounding and tenure your bank offers.
It has two extras that matter in practice. A senior citizen switch adds the extra 0.5% most banks pay older customers, and a tax-slab selector shows what is left after tax. FD interest is added to your income and taxed at your slab rate, so the post-tax return is what you should compare with other options.
How to use it
- Enter the Principal Amount and the Annual Interest Rate.
- Enter the tenure as years and months.
- Choose the Interest Type: quarterly, monthly, half-yearly or annual compounding, or simple interest.
- Set Senior Citizen to Yes to add 0.5% to the rate, and choose your Income Tax Slab.
- Press Calculate FD Returns.
FD maturity formula
Compound: A = P × (1 + r/n)n·t where n is the compounding frequency per year. Simple interest: A = P × (1 + r·t). Effective yield is the true annual rate: (A ÷ P)1/t − 1. Most Indian banks compound FD interest quarterly.
Worked example
₹1,00,000 for 2 years at 7.5%, compounded quarterly, 20% tax slab
| Maturity (pre-tax) | ₹1,16,022 |
| Interest earned | ₹16,022 |
| Tax at 20% | ₹3,204 |
| Net interest | ₹12,818 |
| Maturity after tax | ₹1,12,818 |
| Effective yield | 7.71% a year |
The quoted 7.5% becomes 7.71% after quarterly compounding. At a 20% tax slab the post-tax yield is about 6.2%, which is barely above typical inflation.
Tips and common mistakes
- Compare banks on effective yield, not the headline rate.
- Interest above ₹40,000 a year (₹50,000 for seniors) per bank attracts 10% TDS. Submit Form 15G or 15H if your total income is below the taxable limit.
- Tax-saver FDs with a five-year lock-in qualify for the Section 80C deduction in the old tax regime.
- Ladder deposits across different maturities to balance liquidity and rate.
- Premature withdrawal usually costs 0.5 to 1% in lower interest.
Frequently asked questions
How is FD interest calculated?
Most banks compound quarterly using A = P(1 + r/4)^(4t). Some pay interest out monthly or quarterly instead of compounding.
Is FD interest taxable?
Yes. It is added to your income and taxed at your slab rate. The bank deducts 10% TDS if interest crosses the annual limit.
What is the senior citizen benefit?
Banks typically pay 0.25 to 0.75% extra to customers aged 60 and above. The tool adds 0.5% as a typical figure. Enter your bank's actual rate for precision.
Which is better, cumulative or payout FD?
Cumulative reinvests interest and gives a higher maturity amount. Payout gives regular income.
Are FDs safe?
Deposits up to ₹5 lakh per depositor per bank are insured by DICGC.
Can I break an FD early?
Yes, with a penalty. Check your bank's terms.