Fixed Deposit Calculator Online

FD Calculator Online: Calculate Fixed Deposit Returns & Interest

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Fixed Deposit (FD) Calculator

Use this Fixed Deposit (FD) Calculator to calculate the maturity amount, total interest earned, and estimated returns on your bank FD. Simply enter your deposit amount, interest rate, tenure, and compounding frequency to instantly see how much your investment could grow by maturity.

Please enter an amount between Rs 1,000 and Rs 1,00,00,000.
Please enter a rate between 3% and 10%. Check your bank’s FD rate card for the exact figure.
FD rates are set by each bank individually, not by the government. Enter the rate shown on your bank’s FD rate card for your chosen tenure.
Please enter a tenure between 3 and 120 months.
Total Invested
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Total Interest
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Maturity Value
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Period Opening Balance Interest Earned Closing Balance

This calculator assumes a cumulative FD where interest compounds and is paid out only at maturity, with no premature withdrawal. Actual maturity value may differ slightly if your bank uses a different day-count method. TDS shown below is an estimate only and does not account for Form 15G/15H submissions or your actual tax slab.

What Is a Fixed Deposit?

Fixed Deposit (FD) is one of the most popular low-risk investment options in India. It allows investors to deposit a lump sum amount for a fixed tenure and earn a predetermined rate of interest. Since the interest rate is locked at the time of booking, FD returns are not affected by stock market fluctuations, making it a preferred choice for conservative investors seeking predictable returns.

Why FD Rates Are Not the Same Everywhere

Unlike government schemes such as PPF or Sukanya Samriddhi Yojana, where the interest rate is fixed by the Ministry of Finance and applies everywhere, every bank sets its own FD rate. Public sector banks like SBI and Bank of Baroda usually offer more moderate rates. Private banks like HDFC, ICICI, and Axis often offer slightly higher rates. Small finance banks tend to offer the highest rates of all, since they need to attract more deposits, though they carry a different risk profile. The rate also depends heavily on your chosen tenure — rates in the 1 to 3 year range are usually the highest, while very short and very long tenures often pay less.

How FD Interest Is Calculated

Most Fixed Deposits use compound interest, where interest earned during one period becomes part of the principal for the next period. This allows investors to earn interest on both the original deposit and previously earned interest.

The maturity value of an FD is generally calculated using the compound interest formula:

A = P (1 + r/n)nt

  • A = Maturity Amount
  • P = Principal Deposit
  • r = Annual Interest Rate
  • n = Number of Compounding Periods Per Year
  • t = Investment Tenure in Years

This calculator automatically performs these calculations based on the values entered and displays the estimated maturity amount and interest earned.

Sample FD Rates for Reference

These are indicative ranges only, since rates change frequently. Always check your specific bank’s current rate card before investing.

Bank CategoryTypical Rate Range
Public Sector Banks (SBI, PNB, Bank of Baroda)5.00% — 7.25%
Private Banks (HDFC, ICICI, Axis, Kotak)6.00% — 7.45%
Small Finance Banks (Suryoday, Unity, Equitas)7.50% — 9.35%
Post Office Time Deposit6.90% — 7.50% (no senior bonus)

FD Rules You Should Know

FD interest is fully taxable at your income tax slab rate, in both the old and new tax regime — there is no exemption. Banks deduct TDS (Tax Deducted at Source) under Section 194A if your annual interest from a single bank crosses Rs 40,000 for regular customers or Rs 50,000 for senior citizens. If your total income is below the taxable limit, you can submit Form 15G (or Form 15H if you are a senior citizen) to the bank to avoid this deduction.

Breaking an FD before maturity usually means the bank recalculates your interest at the rate applicable for the period you actually held the deposit, and then applies a further penalty of 0.5% to 1%. A 5-year tax-saver FD, which qualifies for a Section 80C deduction, cannot be broken before maturity under any circumstance. All bank deposits, including FDs, are insured up to Rs 5 lakh per depositor per bank under DICGC, covering both principal and interest combined.

FD vs RD: What Is the Difference?

Feature Fixed Deposit (FD) Recurring Deposit (RD)
Investment Type One-time lump sum deposit Monthly fixed deposits
Suitable For Investors with available funds Investors saving gradually
Flexibility Lower Higher
Returns Generally similar Generally similar

Both Fixed Deposits and Recurring Deposits offer stable returns. FD is usually preferred when you already have a lump sum available, while RD is suitable for individuals who want to build savings through monthly contributions.

FD vs Savings Account

Feature Fixed Deposit Savings Account
Interest Rate Usually Higher Usually Lower
Liquidity Limited High
Returns Fixed for Tenure Variable
Risk Very Low Very Low

Fixed Deposits generally offer higher returns than savings accounts because the funds remain locked for a specific period. Savings accounts provide greater liquidity but typically offer lower interest rates.

Advantages of Fixed Deposits

  • Guaranteed returns throughout the tenure.
  • Protection from stock market volatility.
  • Wide range of tenure options.
  • Additional interest benefits for senior citizens.
  • Loan and overdraft facilities against FD at many banks.
  • Easy online opening and renewal.

Disadvantages of Fixed Deposits

  • Interest income is taxable.
  • Returns may not always beat inflation.
  • Premature withdrawal can attract penalties.
  • Long-term growth is generally lower than equity-based investments.

Frequently Asked Questions

Q. Are FD interest rates the same at every bank? Ans. No. Unlike PPF or Sukanya Samriddhi Yojana, where the government sets one rate for everyone, each bank decides its own FD rate. Public sector banks, private banks, and small finance banks all offer different rates, and the same bank may offer different rates for different tenures. Always check your bank’s current rate card before booking an FD, and enter that exact rate into this calculator.
Q. How is FD interest compounded? Ans. Most Indian banks compound FD interest quarterly for cumulative deposits, meaning the bank calculates and adds interest to your balance every three months, and each new quarter earns interest on the higher balance. Some banks or products may use monthly, half-yearly, or annual compounding instead. Check your bank’s terms and select the matching option in this calculator.
Q. Is FD interest taxable? Ans. Yes, fully. FD interest is added to your total income and taxed at your income tax slab rate, whether you choose the old or the new tax regime. There is no exemption based on tenure or bank type, except for the Section 80C deduction available on the deposit amount itself for 5-year tax-saver FDs — the interest earned on those is still fully taxable.
Q. What is TDS on FD and when does it apply? Ans. Banks deduct TDS (Tax Deducted at Source) under Section 194A if your total annual interest from all FDs in a single bank exceeds Rs 40,000 for regular customers, or Rs 50,000 for senior citizens. The standard TDS rate is 10% if you have submitted your PAN, and 20% if you have not. If your total income is below the taxable limit, submit Form 15G (or Form 15H for senior citizens) to your bank to prevent this deduction.
Q. What happens if I withdraw my FD before maturity? Ans. Most banks recalculate your interest at the rate that was applicable for the period you actually held the deposit, which is usually lower than your original booked rate, and then apply an additional penalty of 0.5% to 1%. This means breaking an FD early can meaningfully reduce your final payout. A 5-year tax-saver FD cannot be withdrawn early under any circumstance.
Q. Do senior citizens get a higher FD rate? Ans. Yes. Most banks offer an additional 0.25% to 0.80% over the standard rate for senior citizens aged 60 and above, with some banks offering an even higher premium for super senior citizens aged 80 and above. The exact bonus varies by bank, so check your bank’s rate card. Post Office Time Deposits are an exception — they do not offer any separate senior citizen rate.
Q. Is my FD safe if the bank fails? Ans. Bank deposits, including FDs, are insured by DICGC (Deposit Insurance and Credit Guarantee Corporation) up to Rs 5 lakh per depositor per bank. This limit covers your principal and interest combined, across all your deposit accounts in that one bank. If you have a larger amount, consider spreading it across multiple banks to stay within the insured limit at each one.
Q. What is a tax-saver FD? Ans. A tax-saver FD has a mandatory 5-year lock-in and lets you claim a deduction of up to Rs 1.5 lakh under Section 80C on the amount deposited. Unlike a regular FD, it cannot be withdrawn before the 5 years are up, even with a penalty. The interest earned on a tax-saver FD is still fully taxable at your slab rate.
Q. Which compounding frequency gives the best return? Ans. For the same nominal interest rate, more frequent compounding gives a slightly higher final payout, since interest earns interest more often. Monthly compounding gives marginally more than quarterly, and quarterly gives marginally more than annual. In practice, most Indian banks use quarterly compounding as their default for FDs, so the difference is usually small.
Q. Can I open a Fixed Deposit online? Ans. Most banks allow customers to open, renew, and close Fixed Deposits through internet banking and mobile banking applications without visiting a branch.
Q. What is a cumulative FD? Ans. A cumulative Fixed Deposit reinvests the interest earned during the tenure. The interest is added to the principal and paid along with the maturity amount at the end of the tenure.
Q. What is a non-cumulative FD? Ans. A non-cumulative Fixed Deposit pays interest periodically, such as monthly, quarterly, half-yearly, or annually. It is commonly preferred by retirees and individuals seeking regular income.
Q. Can NRIs invest in Fixed Deposits in India? Ans. Yes. Non-Resident Indians can open NRE, NRO, and FCNR Fixed Deposit accounts subject to the rules prescribed by the Reserve Bank of India and the respective bank.
Q. Is FD better than mutual funds? Ans. Fixed Deposits provide predictable returns and capital protection, while mutual funds offer market-linked returns that can be higher or lower depending on market performance. The appropriate choice depends on an investor’s financial goals, risk tolerance, and investment horizon.

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