FD Calculator: Fixed Deposit Interest and Maturity Amount
Find out how much your fixed deposit will be worth at maturity, or how much interest it will pay every month or quarter. The calculator follows the method Indian banks use: interest is compounded every quarter, and deposits shorter than six months earn simple interest. It also shows the year-by-year growth, the tax on the interest and when TDS may be deducted.
Use the rate your bank shows for this tenure.
Maturity amount
–
Year-by-year growth
| After | Date | Interest so far | Value |
|---|
Compare tenures at this rate
| Tenure | Interest | Maturity (cumulative) |
|---|
Banks usually pay a different rate for each tenure, so change the rate above to compare real offers.
How to use the FD calculator
- Enter the amount you want to deposit and the interest rate your bank offers for that tenure.
- Set the tenure in years, months and days. Tick Senior citizen if your bank gives you an extra rate (often 0.50%).
- Choose how you want the interest: all at maturity, or paid out every month or quarter.
- Read the maturity amount, total interest and maturity date. Pick your tax slab to see what you keep after tax.
How FD interest is calculated in India
Most Indian banks use two rules for regular fixed deposits:
- Less than 6 months: simple interest for the exact number of days. Interest = Deposit × Rate × Days ÷ 365.
- 6 months or more: interest is compounded every quarter. Maturity = Deposit × (1 + Rate/4)quarters. If the tenure does not end on a quarter, the extra days earn simple interest on the grown balance.
Example: ₹1,00,000 at 7% for 1 year grows to 1,00,000 × (1.0175)4 = ₹1,07,186. That is ₹186 more than simple interest, so the effective yearly yield is about 7.19%.
| Deposit ₹1,00,000 at 7% | Interest | Maturity |
|---|---|---|
| 90 days (simple interest) | ₹1,726 | ₹1,01,726 |
| 1 year | ₹7,186 | ₹1,07,186 |
| 3 years | ₹23,144 | ₹1,23,144 |
| 5 years | ₹41,478 | ₹1,41,478 |
Monthly and quarterly interest payout
If you choose a quarterly payout, the bank pays Deposit × Rate ÷ 4 every quarter and your deposit does not grow. On ₹1,00,000 at 7% that is ₹1,750 a quarter.
A monthly payout is slightly less than Rate ÷ 12, because the bank pays you earlier than the quarter end. Banks call this the “discounted value”. On ₹1,00,000 at 7% the monthly interest is about ₹580, not ₹583. Your bank's figure can differ by a rupee or two.
Tax and TDS on FD interest
- FD interest is added to your income and taxed at your slab rate every year, even if you receive it only at maturity.
- Banks deduct TDS at 10% when your total interest from all deposits in that bank crosses ₹50,000 in a financial year (₹1,00,000 for senior citizens). Without PAN, TDS is 20%.
- If your total income is below the taxable limit, you can submit the self-declaration form to your bank so that no TDS is deducted. From April 2026 this is Form 121, which replaced Forms 15G and 15H.
- TDS is not the final tax. Show the full interest in your income tax return and claim credit for the TDS.
Is my FD safe?
Deposits in banks are insured by DICGC up to ₹5 lakh per depositor per bank, including interest. This covers all your accounts in the same bank together, not each account separately. If you plan to keep more than this, you can spread it across banks.
Tips before you open an FD
- Compare the rate for your exact tenure. Banks often pay more for odd tenures such as 444 days.
- Breaking an FD early usually costs 0.5% to 1% of the rate. If you may need part of the money, split it into two or three FDs.
- For long-term goals, compare the post-tax return with the PPF, which is tax-free.
Frequently asked questions
How do I calculate FD maturity amount?
For a deposit of 6 months or more, use Maturity = Deposit × (1 + Rate/4)number of quarters. For example, ₹50,000 at 7.5% for 2 years is 50,000 × (1.01875)8 = ₹58,011. The calculator above also handles extra days, short deposits and payout options.
Can I use this as an SBI, HDFC or post office FD calculator?
Yes for banks: enter your bank's current rate for the tenure, and add the senior citizen extra if it applies. Most banks compound quarterly, so the result will match closely. For the post office, use the Post Office FD Calculator, because post office time deposits pay interest every year.
Why is my monthly interest less than rate ÷ 12?
Banks work out interest quarterly. When they pay it every month, they discount it a little for paying early. On ₹1 lakh at 7% you get about ₹580 a month instead of ₹583.
Is it better to take interest monthly or at maturity?
At maturity (cumulative) earns more, because the interest itself earns interest. Choose a payout only if you need regular income, for example after retirement.
When will the bank deduct TDS on my FD?
When interest from all your deposits in one bank crosses ₹50,000 in a financial year, or ₹1,00,000 if you are a senior citizen. TDS is 10% with PAN. If your income is below the taxable limit, submit Form 121 to the bank at the start of the year.
Is the calculator result exactly what my bank will pay?
It is very close for normal quarterly-compounding FDs. Small differences can come from rounding, leap years and how a bank counts the last few days. Your FD receipt is the final word.
Is my data saved?
No. The calculation runs in your browser. Nothing you enter is sent to ToolsRiver.
Related calculators
RD Calculator · Post Office FD Calculator · PPF Calculator · Compound Interest Calculator · SIP Calculator · Income Tax Calculator
About this tool. FD Calculator uses the rules Indian banks publish for regular fixed deposits: simple interest below six months and quarterly compounding from six months, with simple interest for leftover days. Monthly payouts use the discounted monthly value. TDS limits (₹50,000, or ₹1,00,000 for senior citizens) and DICGC cover (₹5 lakh) were checked in November 2026. We tested it against hand-worked examples, short and long tenures, odd days, month-end start dates and all payout options.
Last reviewed: November 2026.