FD Calculator.
Enter the deposit amount, interest rate and tenure, choose how the bank compounds and whether you want the interest paid out or accumulated. We show the maturity amount, total interest and whether TDS is likely to apply. Runs entirely in your browser.
Payout FDs show simple interest for each period; banks pay monthly interest at a slightly discounted rate, so the real figure may be marginally lower. TDS thresholds are for FY 2025-26 bank, co-operative bank and post office deposits.
What you'll get.
A real example of what this tool produces. Run it above with your own inputs.
A fixed deposit is still the first place most Indian households and small businesses park surplus cash: the GST refund that came in, the advance a client paid for a six-month project, or the Diwali season profit a shop wants to keep safe until the next stock purchase. Banks quote a rate per year, but the amount you actually get depends on how often they compound it, whether you take the interest out monthly or let it accumulate, and how long the money stays.
This calculator does the maths the way Indian banks do. Most of them compound quarterly for cumulative deposits, so Rs 1 lakh at 7 percent for a year grows to Rs 1,07,186, not Rs 1,07,000. For payout deposits, where a retiree or a landlord wants the interest in their account every month or quarter, it shows the periodic amount and the total over the tenure with the principal returned at the end.
It also flags tax. From FY 2025-26 a bank deducts TDS at 10 percent once interest for the year crosses Rs 50,000, or Rs 1 lakh for a senior citizen, and the tool tells you whether your deposit is likely to cross that line so you can split deposits, submit Form 15G or 15H, or at least expect the deduction in Form 26AS.
How to use the fd calculator
Enter the deposit amount and the interest rate the bank has quoted for that tenure.
Set the tenure in years and additional months, for example 1 year 6 months for an 18-month deposit.
Choose the compounding frequency. Leave it on quarterly unless the bank or NBFC says otherwise.
Pick cumulative if interest is to be paid at maturity, or monthly or quarterly payout if you want regular income.
Select whether the depositor is a senior citizen for the TDS threshold, then click Calculate maturity.
Why this matters for your business
Compare offers correctly. A 7.1 percent FD with quarterly compounding beats a 7.15 percent one with yearly compounding over a long tenure. The effective yield line puts both on the same footing.
Plan cash flow for the business. A trader who knows a Rs 5 lakh deposit will return Rs 6,20,042 in three years can line it up against a planned shop renovation or GST payment date.
Avoid a TDS surprise. Interest above the threshold is taxed at source. Knowing it in advance lets you file Form 15G or 15H or spread deposits across family members and banks.
Tips for better results
- Bank FD rates change often; check the rate card for the exact tenure, because 390-day and 444-day special deposits frequently pay more than the round one-year rate.
- Senior citizens typically get 0.25 to 0.50 percent extra, and super senior citizens above 80 sometimes a little more at public sector banks.
- Deposits with a bank are insured by DICGC up to Rs 5 lakh per depositor per bank, including interest; split larger sums across banks if safety matters more than convenience.
- A five-year tax-saver FD qualifies for Section 80C under the old regime but cannot be broken early.
- Premature withdrawal usually costs 0.5 to 1 percent of the rate for the period the money actually stayed, so match the tenure to when you will need the cash.
- For a business, FD interest is income from other sources, and the TDS shows in Form 26AS and AIS; reconcile it before filing the return.
Example
A real-world walkthrough
A freelance consultant in Pune receives a Rs 5,00,000 advance for a project that will take a year, and does not need the money for at least three years. Her bank offers 7.25 percent on a three-year deposit, compounded quarterly, with interest paid at maturity.
She enters Rs 5,00,000, 7.25 percent, 3 years, quarterly compounding and cumulative payout. The calculator shows a maturity of about Rs 6,20,042 and interest of about Rs 1,20,042, which averages Rs 40,014 a year, below the Rs 50,000 TDS threshold, so the bank should not deduct tax. She notes that the interest is still taxable and sets a reminder to report the accrued interest each year in her return.
Frequently asked questions
How is FD interest calculated by Indian banks?
For a cumulative fixed deposit, most Indian banks compound interest quarterly. The formula is maturity equals principal multiplied by one plus the annual rate divided by four, raised to the power of four times the number of years. For Rs 1,00,000 at 7 percent for one year that gives Rs 1,07,185.90, slightly more than the Rs 1,07,000 you would get with simple interest, because each quarter the interest earned starts earning interest too. Some NBFCs and small finance banks compound monthly or yearly, and post office time deposits compound quarterly but pay out yearly. The calculator lets you choose the frequency so the result matches your bank rate card.
What is the difference between a cumulative and a non-cumulative FD?
In a cumulative deposit the interest is reinvested and paid together with the principal at maturity, which is best for growing a lump sum. In a non-cumulative or payout deposit the bank credits interest to your savings account every month, quarter, half-year or year, and returns only the principal at maturity, which suits retirees and anyone who wants regular income. Because the interest is taken out rather than reinvested, the total interest on a payout deposit is lower than on a cumulative one at the same rate. Monthly payout deposits are usually paid at a marginally discounted rate because the bank is paying earlier than its quarterly compounding cycle.
When is TDS deducted on fixed deposit interest?
Under Section 194A a bank, co-operative bank or post office deducts TDS at 10 percent when the total interest it pays you in a financial year exceeds Rs 50,000, or Rs 1,00,000 if you are a senior citizen; these limits apply from FY 2025-26 and were Rs 40,000 and Rs 50,000 earlier. The limit is per bank, across all your deposits with that bank. If your PAN is not linked, the rate is 20 percent. If your total income is below the basic exemption limit you can submit Form 15G, or Form 15H if you are 60 or above, at the start of the year and the bank will not deduct. TDS deducted or not, the full interest is taxable in your hands under income from other sources.
Is the interest rate the same as the effective yield?
No. The quoted rate is the nominal annual rate. Because interest is compounded quarterly, the effective annual yield is a little higher: 7 percent compounded quarterly gives 7.19 percent a year. Over longer tenures the gap grows, and some banks advertise the yield rather than the rate to make a deposit look better. The calculator shows both so you can compare deposits on the same basis. For payout deposits the yield equals the nominal rate, since nothing is reinvested.
Can I break an FD before maturity?
Yes, except for a five-year tax-saver deposit, which is locked in. On premature withdrawal the bank pays interest for the period the deposit actually ran, at the rate applicable to that shorter tenure on the day you opened the deposit, minus a penalty that is usually 0.5 to 1 percent. So a two-year deposit at 7.25 percent broken after eight months might earn the six-month rate of, say, 6 percent less 1 percent. Many banks waive the penalty if you reinvest in a longer deposit with them, and some offer sweep-in or flexi deposits that let you withdraw part of the amount without breaking the whole deposit.
How safe is a bank FD?
Deposits with every scheduled commercial bank, small finance bank, payments bank and most co-operative banks are insured by the Deposit Insurance and Credit Guarantee Corporation up to Rs 5 lakh per depositor per bank, covering principal and interest together across savings, current, fixed and recurring deposits. Amounts above Rs 5 lakh depend on the bank remaining solvent, which is why many savers spread large sums across two or three banks. Company fixed deposits from NBFCs and housing finance companies are not DICGC-insured; their safety rests on the credit rating, and the higher rate they offer is compensation for that extra risk.
Should a small business keep surplus cash in an FD?
It is a reasonable choice for money you will need at a known date within a year or two, such as a tax payment, a rent deposit or a planned equipment purchase, because the return is fixed and the deposit can be broken in an emergency. Keep it in the business current account name, not a personal account, so the interest is correctly treated as business income from other sources and the TDS credit appears against the business PAN. For money with no fixed purpose, compare with a liquid or overnight mutual fund, which has no lock-in and no penalty. For longer horizons, see the SIP calculator on this site.
Does this calculator store my figures or connect to any bank?
No. It is a plain calculator that runs in your browser; the deposit amount, rate and tenure never leave your device, and there is no account or history. Rates are not fetched from any bank, so enter the rate from your bank rate card for the exact tenure. Use the result to compare options and plan, then open the deposit through your bank app or branch.
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