Find the maturity amount and interest on your fixed deposit, with a year-by-year growth table.
How does an FD calculator work?
A fixed deposit (FD) lets you lock a lump sum with a bank for a set period at a fixed interest rate. Interest is added to your balance at regular intervals, such as every quarter, and then earns interest too. This is called compounding.
This calculator shows your maturity amount, the interest you earn, and how your balance grows each year. Change the compounding option to see how it affects your return.
FD maturity formula
A = P × (1 + r ÷ n)^(n × t)
A = maturity amount · P = deposit · r = annual rate (as a decimal) · n = compounding times per year · t = tenure in years
Example
If you deposit ₹1,00,000 at 7% per year for 5 years with quarterly compounding, your FD grows to about ₹1,41,478. You earn about ₹41,478 in interest.
Tips to get more from your FD
- Compare rates across banks before you deposit. Even 0.5% extra adds up over the years.
- Choose cumulative (reinvested) interest to benefit from compounding.
- Split a large amount into several FDs so you can break one without losing the rest.
- Check the penalty for early withdrawal before you commit.
Frequently asked questions
What is a fixed deposit (FD)?
A fixed deposit is a savings option where you deposit a lump sum with a bank for a fixed period at a fixed interest rate. You get your money back with interest at maturity.
How is FD maturity amount calculated?
Maturity amount = P × (1 + r ÷ n)^(n × t), where P is the deposit, r is the annual interest rate as a decimal, n is the number of times interest is compounded per year and t is the tenure in years.
Which compounding gives the highest return?
The more often interest is compounded, the higher the maturity amount. Monthly compounding gives slightly more than quarterly, half-yearly or yearly compounding at the same rate.
Is FD interest taxable?
In most countries, interest earned on a fixed deposit is taxable as income. Tax rules and any tax deducted at source vary by country, so check with your bank or a tax advisor.
Is it better to choose a longer FD tenure?
Longer tenures often carry higher interest rates and give more compounding, but your money is locked in for longer. Choose a tenure that matches when you will need the money.
Is this FD calculator accurate?
It uses the standard compound interest formula. Your bank’s final figure may differ slightly because of rounding, payout options or special rates.
This calculator gives estimates for information only and is not financial advice. Confirm exact figures with your bank.
