FD Calculator: Fixed Deposit Maturity, Monthly and Quarterly Interest
Enter the deposit, the bank's rate and the tenure in years and months. Choose cumulative (paid at maturity) or a regular monthly or quarterly payout.
- Nothing you type is stored
- Free
- No signup
Maturity value
₹1,21,341
- Total interest
- ₹21,341
- In words
- 1.21 lakh
- Effective yearly yield
- 6.66%
Interest compounded every quarter, as most banks do. TDS is cut if interest crosses the yearly limit.
Year by year
| Year | Interest that year | Balance |
|---|---|---|
| 1 | ₹6,660 | ₹1,06,660 |
| 2 | ₹7,104 | ₹1,13,764 |
| 3 | ₹7,577 | ₹1,21,341 |
How to use
- Enter the deposit amount and the interest rate from your bank.
- Enter the tenure in years and months.
- Choose how you want the interest: at maturity, every quarter or every month.
Good to know
Indian banks compound cumulative FDs every quarter: maturity = P × (1 + r/4)^(quarters). A part-quarter at the end earns simple interest, and deposits under 6 months earn simple interest. That is why a 6.5% FD for 3 years yields about 6.66% a year.
With quarterly payout you get P × rate ÷ 4 every quarter. With monthly payout banks pay a slightly smaller, discounted amount, P × (r/12) ÷ (1 + r/12), because they would otherwise have paid it at the quarter end.
FD interest is fully taxable at your slab rate, and banks deduct TDS once interest crosses the yearly limit unless you submit Form 15G/15H where eligible. Senior citizens usually get 0.25%–0.75% extra. Deposits are insured by DICGC up to ₹5 lakh per bank.
Questions
How is FD interest calculated?
For cumulative FDs, interest compounds quarterly: A = P × (1 + r/400)^(4 × years).
Why is the monthly payout lower than one-twelfth of the yearly interest?
Banks discount it for being paid before the quarter end. On ₹10 lakh at 6%, you get about ₹4,975 instead of ₹5,000.
Is FD interest taxable?
Yes, as income at your slab rate, even in a cumulative FD where you receive it only at maturity.
What happens if I break my FD early?
Banks usually pay the rate for the period actually held, minus a penalty of about 0.5%–1%.
Is my money safe in an FD?
Deposits are insured by DICGC up to ₹5 lakh per depositor per bank, including interest.