FD Calculator

How to use FD Calculator

1. Enter the deposit amount and the interest rate your bank is offering. Tick the extra-rate box if you get a senior-citizen or similar premium and type that extra rate.
2. Type the tenure in years, months and days, choose a start date, then pick cumulative interest (paid at maturity) or periodic payout.
3. For cumulative deposits choose how often interest compounds; for payouts choose monthly, quarterly or yearly. Optionally enter a TDS percentage that applies to you.
4. Read the maturity amount, interest earned, maturity date and the year-wise table, and change the inputs to compare alternatives.

How a fixed deposit earns interest

A fixed deposit, often called a term deposit, locks a lump sum with a bank for an agreed period at a rate agreed on the day you book it. There are two common ways to take the interest. In a cumulative deposit the interest is added back to the balance at fixed intervals and everything is paid at maturity, so you earn interest on interest. In a periodic payout deposit, the bank pays the interest out monthly, quarterly or yearly and the original amount comes back at the end, so there is no compounding.

For the cumulative case this calculator uses the standard formula A = P x (1 + r/n)^(n x t), where P is the deposit, r is the annual rate as a decimal, n is the number of compounding periods per year and t is the tenure in years. For the payout case the interest per period is P x r divided by the number of payouts per year.

Worked example

Deposit 100,000 at an example rate of 7 percent for 2 years with quarterly compounding. Each quarter the rate is 7/4 = 1.75 percent, and there are 8 quarters, so the maturity amount is 100,000 x 1.0175^8 = 114,888.18. Interest earned is 14,888.18, and after the first year the balance is 107,185.90. If the same deposit paid interest out quarterly instead, you would receive 100,000 x 0.07 / 4 = 1,750.00 every quarter, 14,000.00 in total over two years, and get the 100,000 back at the end. The cumulative choice earns 888.18 more because of compounding, but the payout choice gives you cash flow along the way.

Tips, limits and privacy

Compare deposits by effective annual yield rather than by the headline rate, because a lower rate with more frequent compounding can beat a slightly higher rate that compounds yearly. Check the premature withdrawal penalty before you lock money in, and remember that interest is usually taxable. Deposit insurance limits and tax rules vary by country and change over time, so this page does not state them.

• All rates, extra rates and TDS values are inputs you choose; they are examples until you replace them.
• The year-wise table shows the balance at each anniversary and a final partial year if the tenure is not whole.
• This is an estimate only and not financial advice.
• Everything runs in your browser. Your amounts are never uploaded or stored.

Why use this fd calculator tool

• Cumulative and payout modes. See either the lump sum at maturity or the regular payout you would receive while the deposit stays untouched.
• Four compounding choices. Monthly, quarterly, half-yearly or yearly compounding, plus an effective annual yield figure for easy comparison between banks.
• Maturity date and tenure in days. Tenure is entered as years, months and days, and the maturity date is worked out from your start date.
• Optional extra rate and TDS. Add a senior-citizen style premium and a TDS percentage you enter yourself; nothing is hard-coded because rules and rates change.

Frequently asked questions

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