What is a FD Calculator?
A fixed deposit locks in a lump sum with a bank or NBFC for a chosen tenure at a fixed interest rate, agreed upfront regardless of where market rates move afterward. Most Indian banks compound FD interest quarterly, though some offer monthly or annual compounding — the frequency alone can shift the effective return by a noticeable amount over longer tenures.
Enter your deposit amount, the rate your bank is offering, the tenure, and the compounding frequency to see the maturity value.
How the maturity value is calculated
k is the number of times interest compounds per year — 4 for quarterly (the most common convention for Indian bank FDs), 12 for monthly, or 1 for annual. More frequent compounding gives a slightly higher maturity value for the same stated rate.
Frequently asked questions
Is FD interest taxable?
Yes — fully taxable at your income slab rate, added to your total income each year it accrues (not just at maturity), and banks deduct TDS if the interest crosses the applicable threshold in a year.
What’s the difference between cumulative and non-cumulative FDs?
This calculator assumes a cumulative FD, where interest is reinvested and paid out at maturity. A non-cumulative FD instead pays interest out periodically (monthly/quarterly), so the balance itself doesn’t compound.
Do senior citizens get a better rate?
Most banks offer roughly 0.25–0.75 percentage points extra for senior citizens — use that higher rate directly in the calculator if it applies to you.