What is a FD calculator?
FD maturity = P × (1 + r/n)^(n × t), where P is the deposit, r the yearly rate as a decimal, n the number of compounding periods a year (4 for quarterly) and t the years. ₹1,00,000 at 7% for 3 years compounded quarterly matures at about ₹1,23,144.
Features
- Quarterly, monthly, half-yearly or yearly compounding
- Tenure in years or months
- Interest earned and effective yearly yield
- Principal vs interest split
How to use the FD calculator
- Enter the deposit amount.
- Enter the rate your bank offers for that tenure.
- Enter the tenure and keep quarterly compounding unless your bank says otherwise.
Effective yield vs quoted rate
Because interest is added every quarter and then earns interest itself, a 7% FD compounded quarterly actually grows about 7.19% a year. Banks often show this as the "annualised yield". Comparing yields, not quoted rates, is the fair way to compare banks.
Tax on FD interest
FD interest is added to your income and taxed at your slab rate. Banks deduct TDS once yearly interest crosses the threshold set by the Income Tax Act, unless you submit Form 15G (or 15H for senior citizens) where you are eligible. Check the current threshold with your bank.
Frequently asked questions
Is FD interest compounded monthly or quarterly?
Most Indian banks compound cumulative FDs quarterly. Monthly-payout FDs pay interest out instead of compounding it.
Is the result exact?
It follows the standard formula. Banks may differ by a few rupees because of day-count rules and rounding.
Last updated 15 November 2026. Made by Criza Labs. Spotted a mistake? Tell us.
