FD Calculator: Fixed Deposit Maturity & Interest

FD Calculator (Fixed Deposit)

Work out your fixed deposit maturity value and interest in seconds, with quarterly compounding like most bank FDs, or the income from a monthly or quarterly payout FD, plus the interest you keep after tax.

Updated October 2026 Runs in your browser. Nothing is stored Results update as you type Amounts in ₹ (INR)

Year	Interest earned	Balance
1	₹7,186	₹1,07,186
2	₹7,702	₹1,14,888
3	₹8,256	₹1,23,144

Year

Interest earned

Balance

₹7,186

₹1,07,186

₹7,702

₹1,14,888

₹8,256

₹1,23,144

How to use this FD calculator

Enter the deposit amount and the interest rate your bank quotes for the tenure you want.
Set the tenure in years, plus any extra months.
Choose what happens to the interest: reinvested (a cumulative FD), or paid out monthly or quarterly.
Open "More options" to pick your tax slab and see the interest you keep, and to tell the calculator if you are a senior citizen.

The result shows the maturity value or payout, the total interest, the effective yearly yield and a year-by-year table. It also flags when TDS is likely and when your balance at one bank goes above the deposit insurance limit.

The FD formula

A = P × (1 + r/n)^{n × t}

A is the maturity value, P the deposit, r the yearly rate as a decimal, n the number of compounding periods a year (4 for quarterly) and t the tenure in years.

Worked example

You deposit ₹1 lakh for 3 years at 7%, compounded quarterly. Each quarter the deposit grows by 7 ÷ 4 = 1.75%, twelve times over: ₹1,00,000 × 1.0175¹² = ₹1,23,144. That is ₹23,144 of interest, an effective 7.19% a year, and ₹2,144 more than simple interest would pay.

FD returns by tenure and compounding

₹1 lakh at 7%, compounded quarterly:

Tenure	Maturity value	Interest
1 year	₹1,07,186	₹7,186
2 years	₹1,14,888	₹14,888
3 years	₹1,23,144	₹23,144
5 years	₹1,41,478	₹41,478

How often interest compounds makes a small difference. Over 3 years at 7%, ₹1 lakh grows to ₹1,23,293 with monthly compounding, ₹1,23,144 with quarterly, ₹1,22,926 with half-yearly and ₹1,22,504 with yearly compounding. The rate and the tenure matter far more.

Payout FDs for regular income

A non-cumulative FD pays the interest out instead of reinvesting it. ₹5 lakh at 7% pays ₹8,750 every quarter, and ₹10 lakh at 7.5% pays about ₹6,250 a month. You get the deposit back at maturity. Because paid-out interest doesn't compound, a payout FD earns less in total than a cumulative one, and some banks pay slightly less each month than the yearly rate ÷ 12.

Tax and TDS on FD interest

FD interest is part of your taxable income, at your slab rate plus 4% cess. Pick your slab under "More options" to see what you keep: in the 30% slab, ₹23,144 of interest becomes about ₹15,923, an effective 4.94% a year. Compare regimes with the income tax calculator.

Banks deduct TDS at 10% (with PAN) when your interest from that bank exceeds ₹50,000 in a financial year, or ₹1 lakh for senior citizens, counting all your deposits there. TDS is an advance against your tax, not an extra tax.

How safe is your FD?

DICGC, a subsidiary of the RBI, insures bank deposits up to ₹5 lakh per depositor per bank, including interest. A ₹5 lakh FD at 7% for 5 years grows to ₹7,07,389, more than the cover at one bank, so for large sums consider spreading deposits across banks. For tax-free, government-backed saving, see the PPF calculator; to save a fixed amount each month, use the RD calculator.

Frequently asked questions

How is FD interest calculated?

For a cumulative FD, maturity value = P × (1 + r/n)^(n × t), where P is the deposit, r the yearly rate as a decimal, n the number of times interest compounds a year (4 for quarterly) and t the tenure in years. ₹1 lakh at 7% for 3 years, compounded quarterly, grows to ₹1,23,144.

What is the interest on ₹1 lakh FD for 1 year at 7%?

About ₹7,186 with quarterly compounding, an effective 7.19% a year. With a monthly or quarterly payout instead, you would receive ₹7,000 over the year, because paid-out interest doesn't compound.

Is FD interest taxable?

Yes. FD interest is added to your income and taxed at your slab rate, plus 4% cess. In the 30% slab, the ₹23,144 earned on ₹1 lakh over 3 years at 7% leaves you about ₹15,923 after tax, an effective 4.94% a year.

When does the bank deduct TDS on FD interest?

When your interest from one bank is more than ₹50,000 in a financial year, or ₹1 lakh for senior citizens, the bank deducts TDS at 10% if it has your PAN. TDS is only an advance: you still pay tax at your slab rate when you file, and if your income is below the taxable limit you can give the bank a declaration so it doesn't deduct TDS.

Is my fixed deposit safe?

Bank deposits are insured by DICGC, part of the RBI, up to ₹5 lakh per depositor per bank, with principal and interest counted together. Deposits above that at a single bank are not covered, so many people spread large sums across banks.

Cumulative or non-cumulative FD: which is better?

A cumulative FD earns more, because interest is added to the deposit and earns interest itself. A non-cumulative FD pays interest out monthly or quarterly, which suits people who need regular income, such as retirees.

Sources and further reading

Independent, official guidance on this topic. Rules differ by country, so check the regulator where you live.

Reserve Bank of India: regulations, notifications and consumer awareness · Reserve Bank of India
Deposit insurance on bank deposits · Deposit Insurance and Credit Guarantee Corporation (RBI)

This calculator gives estimates for education and planning. It is not financial advice, and your lender's figures may differ. See how we calculate.