Calculator
FD Calculator
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.
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
FD interest is fully taxable at your income-tax slab. Banks deduct TDS once interest crosses ₹40,000 a year (₹50,000 for senior citizens); submit Form 15G/15H if your income is below the taxable limit. This figure is pre-tax.
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 ₹40,000 a year (₹50,000 for senior citizens); submit Form 15G/15H 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 ₹12,400 of that goes in tax, leaving a real gain closer to ₹29,000 — 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.