Fixed Deposit Calculator
Calculate the maturity amount and total interest earned on a fixed deposit (FD), given the deposit amount, interest rate, and tenure.
- Free to use
- Accurate results
- No registration required
- Works on all devices
Your result
₹1,14,888.18
Maturity amount
AI explanation
Formula
Maturity = Principal × (1 + Rate/4/100)^(Tenure in months / 3)Worked example
₹1,00,000 FD at 7% for 24 months
| Field | Value |
|---|---|
| Deposit amount | 100000 |
| Interest rate (per annum) | 7 |
| Tenure (months) | 24 |
| Maturity amount | 114888.18 |
| Total interest earned | 14888.18 |
Assumptions
- Assumes quarterly compounding, the most common convention for Indian bank FDs — actual compounding frequency (monthly, quarterly, or at maturity) varies by bank and scheme.
- Does not account for TDS deducted on FD interest above the threshold set by the Income Tax Department, or premature-withdrawal penalties.
Frequently asked questions
How often is FD interest compounded?
Most Indian banks compound FD interest quarterly, though some schemes compound monthly or pay simple interest at maturity for short tenures. Check your specific FD scheme's terms.
Is FD interest taxable?
Yes, FD interest is fully taxable as "Income from Other Sources" at your applicable income tax slab rate. Banks deduct TDS if interest exceeds the threshold set by the Income Tax Department in a financial year.
What happens if I withdraw my FD before maturity?
Most banks allow premature withdrawal but charge a penalty (commonly 0.5-1% lower interest rate than the applicable rate for the actual tenure held) — check your bank's specific premature-withdrawal terms.
Related calculators
Sources
- Reserve Bank of India — Master Direction on Interest Rate on Deposits — Reserve Bank of India. Effective 03-03-2016, reviewed 12-09-2026.
This calculator assumes quarterly compounding and does not include TDS, premature-withdrawal penalties, or bank-specific terms. Actual maturity amount offered by a bank may differ slightly based on its compounding convention.
Report a calculation issue