Friendly Toolkit
FD Calculator
What will my FD pay?
Fixed deposit maturity value and interest, the way Indian banks calculate it.
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Suggest an improvementHow FD interest is calculated
A = P × (1 + r/4)4·t
Most Indian banks compound cumulative FDs every quarter. P is the deposit, r the yearly rate and t the tenure in years. ₹1,00,000 at 7% for 5 years matures at about ₹1,41,478. Deposits under 6 months usually earn simple interest instead.
Good to know
Cumulative or payout FD?
A cumulative FD reinvests the interest and pays everything at maturity, so it earns more. A payout FD pays interest every month or quarter, useful as regular income. Monthly payouts are slightly less than a third of the quarterly payout, because you get the money sooner.
Do senior citizens get more?
Most banks offer about 0.50% extra to depositors aged 60 and above. Tick Senior citizen to add it, and check your bank's actual rate.
Is FD interest taxed?
Yes, it's added to your income and taxed at your slab rate. Banks deduct TDS above a yearly limit unless you submit Form 15G or 15H where eligible.