Calculator
FD Calculator
The lump sum you deposit.
The rate your bank quotes. Senior citizens usually get 0.25–0.75% extra.
How long the deposit stays locked.
Most Indian banks compound FD interest quarterly.
Growth over time
- Principal
- Interest
View yearly breakdown
| Year | Principal | Interest | Total |
|---|---|---|---|
| Y1 | ₹1,00,000 | ₹7,186 | ₹1,07,186 |
| Y2 | ₹1,00,000 | ₹14,888 | ₹1,14,888 |
| Y3 | ₹1,00,000 | ₹23,144 | ₹1,23,144 |
| Y4 | ₹1,00,000 | ₹31,993 | ₹1,31,993 |
| Y5 | ₹1,00,000 | ₹41,478 | ₹1,41,478 |
FD interest is fully taxable at your income-tax slab. Banks deduct TDS once interest crosses ₹50,000 a year (₹1,00,000 for senior citizens); submit Form 121 (which replaced Forms 15G and 15H from 1 April 2026) if your income is below the taxable limit. This figure is pre-tax.
A fixed deposit (FD) locks a lump sum with a bank or NBFC for a set tenure at a fixed rate, with interest usually compounded quarterly. It is one of the safest places to park money in India, but the return is fully taxable at your slab. This calculator shows what your FD will be worth at maturity and how much of that is interest, for any rate, tenure, and compounding frequency. Use it to compare bank offers, plan a goal you cannot risk in the market, or decide between reinvesting and taking a payout.
What your result means
- FD interest is fully taxable at your income-tax slab, so the post-tax return is lower than the headline rate — compare it to your slab before assuming it beats inflation.
- Banks deduct TDS once interest crosses ₹50,000 a year (₹1,00,000 for senior citizens); submit Form 121 (which replaced Forms 15G and 15H from 1 April 2026) if your total income is below the taxable limit.
- A high return here still rarely beats equity over long horizons — FDs are for safety and short-term goals, not wealth-building.
How to use this calculator
- Enter the lump sum you plan to deposit.
- Enter the interest rate your bank quotes — add the senior-citizen bonus if it applies to you.
- Set the tenure in years (use 0.25 for three months, 0.5 for six).
- Pick the compounding frequency — quarterly for most Indian banks.
- Read the maturity value, then check the interest against your tax slab to see the real return.
The formula
Maturity = P × (1 + r/k)^(k × t), where P = principal, r = annual rate (as a decimal), k = compounding periods per year (4 for quarterly), and t = tenure in years. Interest = Maturity − P.
Worked example
A ₹1,00,000 deposit at 7% per year, compounded quarterly (k = 4) for 5 years: Maturity = 1,00,000 × (1 + 0.07/4)^(20) ≈ ₹1,41,478. So about ₹41,478 is interest. If you are in the 30% slab, roughly ₹12,900 of that goes in tax once the 4% cess is added, leaving a real gain closer to ₹28,500 — which is why FDs often trail inflation for high earners.
When to use it
- Comparing FD offers from different banks and NBFCs at a glance.
- Parking a goal amount you cannot afford to risk in equity, like a near-term down payment.
- Deciding whether to reinvest at maturity or take a regular interest payout.
- Estimating post-tax returns before locking money for a long tenure.
Frequently Asked Questions
References & sources
- ICICI Bank — FD calculator: maturity formula and quarterly compounding
- Axis Bank — Term deposit terms: quarterly compounding, simple interest under 6 months
- DICGC — Deposit insurance FAQs (₹5 lakh per depositor, per bank)
- Income Tax Department — Form 121, the declaration for receiving interest without TDS
- Income Tax Department — Income Tax Forms FAQs: Form No. 121 replaces Forms 15G and 15H from tax year 2026-27
How this calculator was checked: The FD maturity formula (Maturity = P × (1 + r/k)^(k × t)) was re-run on 2026-09-15 against hand calculations, ICICI Bank’s published example (₹1,00,000 at 6.60% for 3 years, compounded quarterly: about ₹1,21,699) and the compounding rules in Axis Bank’s term-deposit terms — it matches for tenures in whole quarters, but a bank’s figure can differ by a few rupees for deposits under six months or broken periods on annual or half-yearly compounding. TDS thresholds follow the site’s rates file, and the Form 121 declaration and ₹5 lakh DICGC cover were checked at source; results are pre-tax illustrations, not reviewed by a registered banking or tax adviser.