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FD Calculator

Calculate fixed deposit maturity amount and interest earned

Deposit Details

₹1.00 lakh

Whatever your bank is quoting for this tenure. Senior citizens usually get 0.25–0.75% more.

Most Indian banks compound cumulative FDs quarterly.

Lending and deposit conventions — set by Reserve Bank of India. Last verified .

The reducing-balance EMI convention and quarterly compounding on recurring deposits. Interest rates are your input — they are set by individual lenders and banks.

Deposits with a scheduled commercial bank are insured by DICGC up to ₹5 lakh per depositor per bank, principal and interest combined.

Check the source

Maturity Amount

₹1,44,995

Principal
₹1,00,000
Interest Earned
₹44,995

Before tax. FD interest is taxable at your slab rate as it accrues.

Breakdown

Deposit amount
₹1,00,000
Interest rate
7.50% p.a.
Tenure
5 years
Compounded
4× a year
Effective annual yield
7.714%
Interest earned
₹44,995
Maturity amount
₹1,44,995

Composition

Principal₹1,00,000 · 69.0%
Interest₹44,995 · 31.0%

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How this is calculated

Formula

A = P × (1 + r/n)^(n×t)

A
= maturity amount
P
= deposit
r
= annual rate as a decimal
n
= compounding periods per year
t
= tenure in years

With your numbers

  1. 1Rate per periodr ÷ n0.0750 ÷ 4 = 0.018750
  2. 2Number of periodsn × t4 × 5 = 20
  3. 3Compound itA = P × (1 + r/n)^(n×t)₹1,00,000 × (1 + 0.018750)^20 = ₹1,44,995
  4. 4Interest earnedinterest = A − P₹1,44,995 − ₹1,00,000 = ₹44,995
Maturity amount₹1,44,995
  • Compounding 4 times a year turns a 7.50% nominal rate into an effective yield of 7.714% — which is the number to use when comparing against any other instrument.
  • This is the cumulative (reinvestment) option. A non-cumulative FD pays the interest out each period instead, so nothing compounds and the total is lower.
  • Tax is not deducted here. Interest is added to your income and taxed at your slab in the year it accrues, whether or not the bank has paid it out yet.

What is a fixed deposit?

A deposit placed with a bank for a fixed term at a rate agreed up front. The rate does not move for the life of the deposit, which is the entire point of it.

It is the most predictable instrument available to a retail saver in India, and the one most likely to lose to inflation after tax.

Key features

  • • Rate is locked at the time of booking
  • • DICGC insurance covers ₹5 lakh per depositor per bank
  • • Premature withdrawal is allowed, at a 0.5–1% rate penalty
  • • A 5-year tax-saving FD qualifies under 80C but cannot be broken early
  • • Senior citizens are typically offered 0.25–0.75% more

Frequently Asked Questions

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