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FD Calculator

FD Calculator is part of Toolspire and is ready as soon as this page loads. See what a fixed deposit will be worth at maturity, how much interest it earns each year, what a monthly payout would be — and how much to deposit to reach a goal.

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What you can do here

Bank-style maths

Quarterly compounding with simple interest for the broken period, so results match bank FD receipts closely.

Payout or reinvest

Compare a cumulative FD with monthly or quarterly interest income.

After-tax return

See the interest you keep and the real yearly return at your tax slab.

Odd tenures

Special schemes like 400, 444 or 555 days work — enter the days directly.

Deposit for a goal

Need ₹10 lakh in five years? Find the deposit that gets you there.

Five currencies

Rupees with lakh and crore, or dollars, euros, pounds and dirhams.

The sequence

How to calculate FD interest

  1. 1

    Enter the deposit

    Type the amount you plan to put in the fixed deposit.

  2. 2

    Enter rate and tenure

    Add the bank’s interest rate and the tenure in years, months and days. Switch on Senior citizen if it applies.

  3. 3

    Choose how interest is paid

    Keep At maturity for a cumulative FD, or pick a monthly or quarterly payout.

  4. 4

    Read the result

    See the maturity amount, total interest, yearly schedule and — if you pick a tax slab — what you keep after tax.

Worth knowing

  • FD Calculator on Toolspire: calculates FD maturity amount and interest with quarterly compounding — the method Indian banks use — or monthly, half-yearly, yearly or simple interest.
  • Handles any tenure in years, months and days (such as 444 days): whole quarters compound and the part period at the end earns simple interest, as banks calculate it.
  • Works out monthly, quarterly, half-yearly or yearly interest payouts, using the discounted rate banks apply to monthly payouts.
  • Adds the senior citizen extra of 0.5%, estimates tax at your slab with 4% cess, and warns when interest crosses the TDS limit (₹50,000 a year; ₹1,00,000 for senior citizens).
  • Goal mode tells you how much to deposit today to reach a target amount.
  • Shows a year-by-year chart and schedule (downloadable as CSV) and the same deposit over 1, 2, 3, 5 and 10 years. Nothing is uploaded.

FD formula

For a cumulative FD compounded quarterly: A = P × (1 + r/4)^(4t), where P is the deposit, r the yearly rate as a decimal and t the tenure in years. ₹1,00,000 at 7% for 5 years grows to 1,00,000 × 1.0175²⁰ = ₹1,41,478.

Because interest is added every quarter, a 7% FD really earns 7.19% a year — the effective annual yield. When the tenure is not a whole number of quarters, the leftover days earn simple interest on the balance.

A payout FD does not compound: a quarterly payout is P × r/4. Monthly payouts are paid at a slightly discounted rate because you receive the money earlier.

Tax on FD interest in India

  • FD interest is added to your income and taxed at your slab rate, every year, even on a cumulative FD.
  • A bank deducts 10% TDS when your total interest with it crosses ₹50,000 in a financial year (₹1,00,000 for senior citizens) — 20% if it has no PAN.
  • If your total income is below the taxable limit, submit Form 15G (or 15H for senior citizens) to avoid TDS.
  • Tax-saving FDs have a 5-year lock-in and no premature withdrawal.
  • Deposits are insured by DICGC up to ₹5 lakh per depositor per bank, including interest.

FAQ

Questions about FD Calculator

Where does FD Calculator run?

FD Calculator runs in this tab on Toolspire. What you type or drop in is not sent to us and is not stored on a server.

How is FD interest calculated?

Indian banks compound FD interest every quarter: A = P × (1 + r/4)^(4t). For FDs under six months most banks pay simple interest — choose Simple interest under Compounding for those.

How much interest will I get on ₹1 lakh for 1 year?

At 7% with quarterly compounding, ₹1,00,000 becomes ₹1,07,186 — ₹7,186 of interest. Enter your bank’s rate to see your own figure.

What is the monthly interest on a ₹10 lakh FD?

Choose Monthly payout. At 7% it is about ₹5,800 a month — slightly less than 7% ÷ 12 because banks discount monthly payouts.

Do senior citizens get a higher FD rate?

Most banks add 0.5% for depositors aged 60 or over, and some add more for those above 80. Switch on Senior citizen to add 0.5%, or simply type the rate your bank offers.

Why is my bank’s maturity amount a little different?

Banks count the exact number of days in each quarter and round at each step, so the result can differ by a few rupees. Premature withdrawal penalties are not included.

Is my data stored?

No. The calculation runs in this tab and nothing you type is sent anywhere.

Keep going

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