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FD Calculator
Work out the maturity value and interest on a bank or post office fixed deposit, with quarterly, monthly or simple interest.
For general information only, not financial or tax advice. Actual EMIs, returns and tax depend on your lender, bank or fund and the latest rules, so confirm before you decide.
What your result means
The calculator shows what your deposit will be worth on the maturity date and how much of that is interest.
| Result | What it tells you |
|---|---|
| Maturity value | The amount the bank pays you at the end of the tenure, before any tax. |
| Total interest | Maturity value minus your deposit. |
| Bar | How much of the maturity value is your deposit and how much is interest. |
For a cumulative FD, interest is added to the deposit and paid at maturity. For a payout FD, where interest is paid to your account every month or quarter, choose simple interest. In that case the total interest is spread across the tenure and the maturity value is just your deposit back plus the interest you received along the way.
How FD interest is calculated
For a cumulative FD, interest is compounded. That means interest earns interest. The formula is:
Maturity = P × (1 + r ÷ (100 × k))k × t
- P: the amount you deposit.
- r: the interest rate a year, as a percentage.
- k: how many times a year interest is compounded: 4 for quarterly, 12 for monthly, 2 for half-yearly and 1 for yearly.
- t: the tenure in years. Extra months are added as months ÷ 12, so 2 years 6 months is 2.5 years.
For simple interest (payout FDs): Maturity = P × (1 + r × t ÷ 100).
Most Indian banks compound FD interest every quarter. Check your bank’s terms, as some deposits compound differently.
How to use the FD calculator
- Enter the deposit amount. The default is ₹1,00,000.
- Enter the interest rate as a percentage a year. The default is 7.
- Enter the tenure in years, and add extra months if needed.
- Choose the compounding: quarterly (the default and most common), monthly, half-yearly, yearly, or simple interest for payout FDs.
- Read the maturity value and total interest. Results update as you type.
Worked example
Meena puts ₹1,00,000 in a 5-year FD at 7% a year, compounded quarterly.
- Rate per quarter: 7 ÷ (100 × 4) = 0.0175.
- Number of quarters: 4 × 5 = 20.
- Maturity: 1,00,000 × (1.0175)20 = ₹1,41,478.
- Total interest: ₹1,41,478 − ₹1,00,000 = ₹41,478.
Here is how the compounding choice changes the same deposit:
| Compounding | Maturity value | Total interest |
|---|---|---|
| Monthly | ₹1,41,763 | ₹41,763 |
| Quarterly | ₹1,41,478 | ₹41,478 |
| Half-yearly | ₹1,41,060 | ₹41,060 |
| Yearly | ₹1,40,255 | ₹40,255 |
| Simple interest | ₹1,35,000 | ₹35,000 |
The more often interest is compounded, the more you earn. With quarterly compounding, a 7% rate works out to an effective yield of about 7.19% a year.
How long does an FD take to double?
Divide 72 by the rate to get a rough answer. At 7%, that is 72 ÷ 7, or about 10 years. The calculator agrees: ₹1,00,000 at 7% compounded quarterly grows to ₹2,00,160 in 10 years.
| Tenure | ₹1,00,000 at 7% (quarterly) |
|---|---|
| 1 year | ₹1,07,186 |
| 2 years | ₹1,14,888 |
| 3 years | ₹1,23,144 |
| 5 years | ₹1,41,478 |
| 10 years | ₹2,00,160 |
Post Office Time Deposit rates (October to December 2026)
A Post Office Time Deposit (TD) is the government’s version of an FD. Its rates are set every quarter, and for October to December 2026 they were left unchanged:
| Post Office TD tenure | Rate a year |
|---|---|
| 1 year | 6.9% |
| 2 years | 7.0% |
| 3 years | 7.1% |
| 5 years | 7.5% |
The minimum is ₹1,000, and the 5-year TD counts for the 80C deduction in the old tax regime. Compare these rates with your bank’s card before you book.
Should you book an FD now or wait?
RBI raised the repo rate by 0.25% to 5.50% on 7 October 2026 and signalled that rate cuts are off the table for now. Bank FD rates tend to follow the repo rate, but each bank decides when and by how much. If you think rates will rise further, split your money: book part of it now and keep part in a shorter FD that you can roll over at a better rate later.
Tax, TDS and Form 121
FD interest is fully taxable. It is added to your income and taxed at your slab rate, every year, even if you only receive it at maturity.
Banks deduct TDS at 10% on FD interest if your interest from that bank crosses the yearly limit. The limit is ₹50,000 a year for most depositors and ₹1,00,000 for senior citizens (60 and above). These limits came in from 1 April 2025 and carry on under section 393 of the Income-tax Act, 2025. If the bank does not have your PAN, TDS is 20%. TDS is not an extra tax. You claim it against your final tax when you file your return.
For example, ₹7 lakh at 7% compounded quarterly earns about ₹50,301 in the first year. That is just over ₹50,000, so a depositor below 60 would see TDS of about ₹5,030. A senior citizen would see no TDS on the same deposit, because the interest is under ₹1,00,000.
If your total income is below the taxable limit, you can ask the bank not to deduct TDS by giving a self-declaration. This used to be Form 15G (below 60) or Form 15H (60 and above). Under the Income-tax Act, 2025, which applies from 1 April 2026, these are replaced by a single Form 121. Ask your bank which form it accepts.
Is your FD safe?
Deposits in banks are insured by DICGC, a subsidiary of RBI, up to ₹5 lakh per depositor per bank. This limit covers principal and interest together, across all your accounts in the same bank. If you have more than ₹5 lakh, spreading it across banks keeps more of it insured.
Choosing a tenure
Longer FDs do not always pay more. Banks often pay their best rate on a middle tenure, such as one to three years, and set special rates for certain terms. Compare the rate card before you pick a tenure. If you are not sure when you will need the money, you can split it into a few smaller FDs with different maturity dates. This is called laddering. If you need cash, you break only one FD, and the rest keep earning the full rate.
Senior citizens usually get a slightly higher rate on FDs at most banks. Breaking an FD early is usually allowed, but the bank pays a lower rate and may charge a penalty. A 5-year tax-saver FD cannot be broken early.
Limitations
- Before tax: the result does not deduct income tax or TDS.
- Bank rules vary: some banks compound differently or calculate interest on exact days, so their figure can differ slightly.
- Rates change: use the rate your bank offers on the day you book the FD.
- No early closure: penalties for breaking the FD early are not included.
Key facts
- DICGC insures bank deposits up to ₹5 lakh per depositor per bank, including principal and interest, as of October 2026. (DICGC (opens in new tab))
- From 1 April 2025, the TDS limit on bank FD interest is ₹50,000 a year, and ₹1,00,000 for senior citizens. (Income Tax Department (opens in new tab))
- TDS on FD interest is 10% if the bank has your PAN, and 20% if it does not. (Income Tax Department (opens in new tab))
- The Income-tax Act, 2025 came into force on 1 April 2026, replacing the Income-tax Act, 1961. (Income Tax Department (opens in new tab))
- Post Office Time Deposit rates are 6.9% (1 year), 7.0% (2 years), 7.1% (3 years) and 7.5% (5 years). (National Savings Institute (opens in new tab))
- Small savings rates for October to December 2026 were kept unchanged from the previous quarter. (Department of Economic Affairs, 30 September 2026 (opens in new tab))
- RBI raised the policy repo rate to 5.50% on 7 October 2026 and changed its stance to calibrated tightening. (RBI (opens in new tab))
- Banks set their own FD rates, within RBI rules. (RBI (opens in new tab))
FAQ
FD Calculator FAQs
How is FD interest calculated?
FD interest is calculated with the compound interest formula: P × (1 + r ÷ (100 × k))^(k × t). P is the deposit, r the yearly rate, k the number of compounding periods a year and t the tenure in years. ₹1,00,000 at 7% for 5 years, compounded quarterly, grows to ₹1,41,478, which is ₹41,478 of interest.
Which compounding do banks use for FDs?
Most Indian banks compound FD interest quarterly for cumulative deposits. For payout FDs, where interest is paid monthly or quarterly, the interest is simple because it is not added back to the deposit. Short FDs under six months often earn simple interest too. Check your bank’s FD terms for the exact method it uses.
Is FD interest taxable?
Yes, FD interest is fully taxable as income from other sources, at your slab rate. You must show it every year, even for a cumulative FD that pays out only at maturity. TDS deducted by the bank counts towards your final tax. Interest on a 5-year tax-saver FD is also taxable, though the deposit may qualify for the old-regime 80C deduction.
What is TDS on FD?
TDS on FD is tax the bank deducts at 10% when your yearly interest from that bank crosses ₹50,000, or ₹1,00,000 for senior citizens. Without your PAN, TDS is 20%. It is not an extra tax. You can claim it when filing your return, and you can submit a declaration to stop TDS if your income is below the taxable limit.
Do senior citizens get higher FD rates?
Yes, most banks pay senior citizens aged 60 and above a slightly higher FD rate than regular depositors. The extra amount is set by each bank and can change. Seniors also get a higher TDS limit of ₹1,00,000 a year. Check your bank’s current senior citizen rate card and enter that rate in the calculator.
Can I break an FD early?
Yes, you can usually break an FD before maturity, but you will earn less. Banks pay the rate for the period the money actually stayed, often minus a penalty of around 0.5% to 1%. Some FDs, like 5-year tax-saver FDs, cannot be closed early. Many banks also let you take a loan against your FD instead.
Is my FD safe?
Your bank FD is insured by DICGC up to ₹5 lakh per depositor per bank, covering principal and interest together. This covers scheduled commercial banks, small finance banks, and most co-operative banks. Amounts above ₹5 lakh in one bank are not insured. Spreading large deposits across different banks keeps more of your money protected.
FD vs RD: which is better?
An FD is better when you have a lump sum to invest now. An RD is better when you want to save a fixed amount every month. At the same rate, an FD earns more because the whole amount earns interest for the full tenure. Both are taxed the same way. Use our RD calculator to compare.