Fixed Deposit (FD) Calculator
Calculate your Fixed Deposit (FD) returns and maturity value for SBI, HDFC, ICICI, Post Office, and other scheduled banks in India.
How it works
Most Indian banks calculate FD interest using quarterly compounding. Because interest is credited 4 times a year, the effective annual yield (EAY) is slightly higher than the stated annual interest rate.
Formula
A = P × (1 + (r / n))^{n × t}
Interest is added to your deposit balance every quarter, and subsequent interest is computed on the growing total.
| Symbol | Variable | Unit | Description |
|---|---|---|---|
| A | Maturity amount | ₹ | |
| P | Principal deposit | ₹ | |
| r | Annual interest rate | decimal | |
| n | Compounding frequency per year (4 for quarterly) | count | |
| t | Tenure in years | years |
Worked example
₹1,00,000 at 7.25% p.a. for 3 years (Quarterly compounding)
- Principal:
- ₹1,00,000
- Rate:
- 7.25%
- Tenure:
- 3 years (12 quarters)
r = 0.0725, n = 4, t = 3. Maturity = 1,00,000 × (1 + 0.0725/4)^12 = 1,00,000 × (1.018125)^12 ≈ ₹1,23,989. Total interest earned is ₹23,989.
Limitations
Premature withdrawal may incur a 0.5% to 1.0% interest rate penalty.
Frequently asked questions
Do senior citizens get higher FD interest rates in India?
Yes, almost all Indian banks offer an additional 0.50% to 0.75% interest rate to senior citizens (aged 60 and above) on domestic term deposits.
What is the TDS threshold on FD interest?
Banks deduct 10% TDS if interest income across all FD accounts in a bank exceeds ₹40,000 in a financial year (₹50,000 for senior citizens). You can submit Form 15G/15H if your total income is below the taxable limit.
Are bank fixed deposits safe in India?
Yes. Bank deposits in all commercial and cooperative banks are insured up to ₹5,00,000 (including principal and interest) per depositor per bank by DICGC (a subsidiary of RBI).
Related calculators
Emergency Fund & Safety Cushion Calculator
Calculate your ideal emergency fund corpus target and monthly savings plan to protect against job loss, medical emergencies, or unexpected expenses.
Recurring Deposit (RD) Calculator
Calculate the maturity value and total interest earned on your monthly Recurring Deposit (RD) with quarterly compounding.
Compound Interest Calculator
Calculate compound interest and total amount for any principal, rate, time, and compounding frequency.
Simple Interest Calculator
Calculate simple interest and total amount using SI = P × R × T / 100.
SIP Calculator
Calculate the future value of your SIP investments. See total invested, wealth gained, and maturity value.
Last reviewed: 2026-08-22.