FD calculator: maturity value and interest on a fixed deposit

A fixed deposit locks a sum with a bank for a set period at a set rate. Enter the amount, the interest rate and the tenure, and this calculator shows what you get at maturity and how much of that is interest.

It compounds the interest quarterly, which is how most bank FD schemes with cumulative payout work: maturity = principal x (1 + rate/4) raised to the number of quarters. If you choose a payout option that pays interest out regularly instead of reinvesting it, your total return is lower than this cumulative figure, because the interest is not compounding. Rates differ by bank, tenure and whether the depositor is a senior citizen, so check the current rate on the lists below before you decide.

Frequently asked questions

What is the difference between cumulative and payout FDs?

A cumulative FD reinvests the interest and pays everything at maturity, so it compounds. A payout FD pays the interest out monthly, quarterly or yearly, which gives you income but a lower final value.

Is the interest on a fixed deposit taxable?

Yes. FD interest is added to your income and taxed at your slab rate, and banks may deduct TDS above a threshold set in the Income Tax Act. The FD tax calculator estimates the tax on your interest.

Can I break an FD early?

Usually yes, but most banks pay a lower rate and charge a penalty on premature withdrawal. Check the bank's terms before locking in the money.

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