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Investing · Free & private

FD Calculator for fixed deposits

Find out exactly how much your fixed deposit will be worth at maturity, or how much interest it pays every quarter. Includes senior citizen rates and TDS.

Senior citizen (60+)?
Interest payout

Maturity amount

₹7,07,389

At 7.00% for 5 yrs · effective yield 7.19% a year

Interest

₹2.07 L

  • Deposit₹5,00,000
  • Total interest₹2,07,389

Total interest

₹2.07 L

Interest per year

₹41.48 K

Maturity amount ₹7,07,389, of which interest is ₹2,07,389.

How your deposit grows

Interest is added every quarter, so it starts earning interest too.

  • Deposit
  • Value

Results are estimates based on the figures you enter and standard formulas. They are for information only and are not financial, investment, tax or legal advice. Rates and rules change, so confirm with your bank, fund house, employer or tax adviser before you decide. Read the full disclaimer.

How to use the FD calculator

  1. Enter the amount you want to deposit and your bank’s interest rate.
  2. Choose Yes for senior citizen if you are 60 or older to add the usual 0.5% extra.
  3. Set the tenure in years and months.
  4. Choose whether interest is paid at maturity (cumulative) or every quarter.

FD formula

A = P × (1 + r/4)4t

  • A is the maturity amount and P the deposit
  • r is the annual rate as a decimal (7% = 0.07)
  • t is the tenure in years; interest compounds 4 times a year

FD maturity at 7%

FD maturity amounts at 7% with quarterly compounding
Deposit1 year3 years5 years
₹1,00,000₹1,07,186₹1,23,144₹1,41,478
₹5,00,000₹5,35,930₹6,15,720₹7,07,389
₹10,00,000₹10,71,859₹12,31,439₹14,14,778

Cumulative or payout?

  • Cumulative (at maturity): interest is added back every quarter and earns interest itself. Best for growing savings.
  • Quarterly payout: interest is paid to your account every quarter and the principal returns at maturity. Useful for regular income, such as after retirement.

Tax-saving FD

A 5-year tax-saving FD qualifies for a deduction of up to ₹1.5 lakh under Section 80C in the old tax regime. It cannot be broken early, and its interest is still taxable. Compare the regimes with our income tax calculator.

FD vs other options

FDs give a fixed, predictable return. For tax-free long-term savings, see the PPF calculator; for market-linked growth, see the SIP calculator.

Last reviewed:

Frequently asked questions

How is FD interest calculated?
Most Indian banks compound FD interest every quarter using A = P × (1 + r/4)4t. For example, ₹1 lakh at 7% for 5 years grows to ₹1,41,478. Deposits shorter than 6 months usually earn simple interest.
Is FD interest taxable?
Yes. FD interest is added to your income and taxed at your slab rate. Banks also deduct 10% TDS once your interest from that bank crosses ₹50,000 in a year (₹1 lakh for senior citizens), which you can adjust when filing your return.
How can I avoid TDS on my FD?
If your total income is below the taxable limit, submit Form 15G (or Form 15H if you are 60 or older) to your bank at the start of each financial year.
Do senior citizens get a higher FD rate?
Most banks pay senior citizens an extra 0.25–0.75%, commonly 0.5%. Some banks offer more on special schemes. Check your bank’s current rate card.
Is my FD safe?
Deposits in banks are insured by DICGC up to ₹5 lakh per depositor per bank, covering principal and interest together. Spreading large amounts across banks keeps more of your money insured.