What is a Fixed Deposit (FD)?

A Fixed Deposit is a secure financial instrument provided by banks and NBFCs where you invest a lump sum of money for a fixed tenure at a predetermined interest rate.

How does an FD calculator work?

An FD calculator takes your principal deposit amount, annual interest rate, tenure, and compounding frequency to compute total interest earned and final estimated maturity value.

How is FD maturity value calculated?

For cumulative fixed deposits, maturity is calculated using the compound interest formula: A = P × (1 + r/n)^(n×t), where P is principal, r is annual interest rate as a decimal, n is compounding periods per year, and t is tenure in years.

What compounding frequency does the calculator use by default?

Quarterly compounding (4 times a year) is selected by default because it is the standard practice across most Indian commercial banks. You can also select Monthly, Half-Yearly, Yearly, or Simple Interest.

Does monthly compounding give higher returns than quarterly?

Yes. Higher compounding frequencies compound interest more often, yielding a slightly higher effective annual rate for the same nominal annual interest rate.

What is the difference between Cumulative and Non-Cumulative FDs?

In a Cumulative FD, interest is retained, compounded, and paid out along with the principal at maturity. In a Non-Cumulative FD, interest is paid out periodically (e.g. monthly or quarterly) as income.

What is a non-cumulative FD periodic payout?

A periodic payout pays interest regularly across chosen intervals. The estimated periodic interest is calculated as Principal × (Annual Rate / Payout Frequency), while principal is returned at maturity.

Can I calculate FD interest for custom tenures in years and months?

Yes. You can specify tenure in years and additional months. The calculator converts total tenure to exact annualized periods for compound interest calculations.

How does the Goal Planner mode work?

Goal Planner reverses the compound interest formula to calculate the exact lump sum deposit you need to invest today to achieve a desired target maturity amount over your chosen tenure.

How does inflation affect my Fixed Deposit returns?

Inflation reduces the purchasing power of your future maturity proceeds over time. The calculator provides an optional inflation adjuster using realValue = nominalValue / (1 + inflation)^t to show what your maturity corpus is worth in today's money.

Is interest earned on Fixed Deposits taxable in India?

Yes. Interest earned on Fixed Deposits is classified as "Income from Other Sources" and is fully taxable according to your applicable income tax slab rate.

How does TDS work on Fixed Deposit interest?

Banks deduct Tax Deducted at Source (TDS) under Section 194A when total annual FD interest across all branches exceeds the statutory threshold. Submitting Form 15G or 15H may prevent TDS if your total income is below the taxable limit.

Can I withdraw my Fixed Deposit before maturity?

Most bank FDs permit premature withdrawal subject to bank-specific terms. However, tax-saving 5-year FDs have a statutory lock-in period and cannot be broken prematurely.

Does premature withdrawal reduce FD interest?

Yes. Banks typically apply the interest rate applicable for the actual period the deposit was held rather than the contracted rate, and may also apply a premature withdrawal penalty.

Do senior citizens get higher FD interest rates?

Many banks offer preferential interest rates (typically 0.25% to 0.75% higher) for senior citizens (aged 60 and above). You can enter your bank's exact senior citizen rate directly in the calculator.

How are bank deposits protected under DICGC insurance?

Eligible bank deposits in registered commercial and cooperative banks in India are insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC) up to ₹5 Lakh per depositor per bank, encompassing both principal and interest combined.

Does this calculator give the exact bank maturity figure?

This calculator estimates maturity based on standard mathematical compounding conventions. Actual bank maturity values may differ slightly due to exact leap year conventions, booking dates, and institution-specific terms.

Can I download and export my FD calculation report?

Yes. You can export a comprehensive PDF report with your parameter summary, formula methodology, and year-by-year schedule, or download RFC 4180-compliant CSV data for spreadsheets.

Can I compare two different FD schemes?

Yes. EasyToolio provides a dedicated FD comparison tool (/compare/fd) to compare two different interest rates, deposit amounts, and compounding frequencies side by side.

What is the difference between FD and RD?

In a Fixed Deposit (FD), you invest a single lump sum upfront at the beginning. In a Recurring Deposit (RD), you deposit a fixed monthly installment over the tenure.

Can I use this calculator for SCSS?

Yes. The Senior Citizen Savings Scheme (SCSS) pays interest quarterly at a fixed rate, so it fits the same principal-rate-tenure-payout mathematics this calculator already uses. Use the "Senior Citizen Savings Scheme" preset for an illustrative current rate and standard 5-year tenure with quarterly payout, then edit the rate and amount to match your actual SCSS account. This calculator is a mathematical estimator only — it does not check SCSS age eligibility or investment limits, so confirm current official rates and rules with your post office or bank before investing.

Can I use this calculator for NSC?

Yes. The National Savings Certificate (NSC) compounds interest annually and pays out the full amount at maturity, which this calculator can model using Cumulative payout mode with Yearly compounding. The "National Savings Certificate (NSC)" preset fills in an illustrative current rate and standard 5-year tenure. Rates are set by the government and revised quarterly and are editable here — verify the official current rate before relying on any result.

Can I use this calculator for KVP?

Yes. Kisan Vikas Patra (KVP) is a fixed-rate scheme compounded yearly, marketed by its maturity/doubling period rather than its annual rate. The "Kisan Vikas Patra (KVP)" preset sets an illustrative current rate with the standard maturity period in years and months, using Cumulative payout mode with Yearly compounding. The exact doubling period and rate are set by the government and revised quarterly, so verify the current official figures before relying on this estimate.

Why isn't there a separate SCSS calculator?

SCSS, NSC and KVP are all fixed-rate savings instruments that use the same principal, rate, tenure, compounding and payout inputs this FD calculator already supports — a separate calculator would duplicate the same underlying math under a different name. Instead, we added scheme presets and guidance directly to this calculator so it can estimate any of these schemes accurately in one place.

How often do SCSS, NSC, and KVP interest rates change?

The Government of India reviews and announces interest rates for small savings schemes, including SCSS, NSC and KVP, every calendar quarter. A rate that applies to a deposit made in one quarter does not necessarily apply to a new deposit made in a later quarter, so always confirm the rate in effect on your actual investment date from an official source rather than relying on any preset value long-term.

Does this calculator check my SCSS eligibility?

No. This calculator only performs the interest and maturity math based on the amount, rate, tenure and payout type you provide — it does not verify age eligibility, investment limits, extension rules or any other SCSS scheme conditions. Confirm your eligibility and the current scheme rules directly with an authorized post office or bank branch before opening an account.

FD Calculator – Fixed Deposit Maturity & Interest Calculator

Compare 2 FD Plans FD vs RD SIP vs FD

Deposit Parameters

Currency

Deposit Amount

₹

Min: ₹5,000 Standard: ₹1,00,000 Max: ₹1 Cr

Interest Rate (p.a.)

Min: 1% Standard: 7.50% Max: 15%

Tenure Duration

Yrs

Mths

1 Year 3 Years 10 Years

Compounding Frequency

Most Indian banks compound FD interest quarterly. Select Simple Interest for short-term/flat tenures.

Also works for these schemes:

Also works for SCSS, NSC, KVP, and other fixed-rate savings schemes — enter the scheme's current rate and tenure. Rate shown is indicative as of Q2 FY2026-27 (Jul–Sep 2026) — verify the current official rate before relying on it.

Deposit Start Date

Used to project estimated maturity calendar date based on deposit booking.

Senior Citizen Rate

Interest Payout Type

Illustrative Tax Slab

Simplified estimate applying slab rate to earned interest. Does not calculate complete tax liability.

Expected Inflation

Computes real purchasing power in today's money: Real = Nominal / (1+i)^t.

Estimated Maturity Value

₹0

Principal Deposit ₹0

Estimated Interest ₹0

Principal: 80% Interest Growth: 20%

Estimated Maturity Date: Calculating...

Wealth Growth Trajectory

Principal Total Maturity

Estimate only: This calculator uses the assumptions you enter. Actual FD maturity, interest payout, taxation, TDS and premature-withdrawal terms depend on the financial institution, product and applicable rules. Scheme presets (SCSS, NSC, KVP) use illustrative, date-sensitive rates only — this tool does not verify scheme eligibility, investment limits or maturity rules. Confirm current official rates and rules with the relevant post office or government source before relying on these figures.

Year-by-Year Compounding Projection

Period	Opening Balance	Interest Accrued	Cumulative Interest	Closing Value
Year 1	₹100,000	+₹7,291	₹7,291	₹107,291
Year 2	₹107,291	+₹7,823	₹15,114	₹115,114
Year 3	₹115,114	+₹8,393	₹23,508	₹123,508
Year 4	₹123,508	+₹9,005	₹32,513	₹132,513
Year 5	₹132,513	+₹9,662	₹42,175	₹142,175

Fixed Deposit Knowledge Hub

How Fixed Deposits (FD) Compound Returns & Protect Capital

A Fixed Deposit (FD) is one of India's most established savings instruments, allowing individuals to lock in a lump sum capital with a registered bank or financial institution at a predetermined rate for a fixed tenure.

Compounding Frequency Impact

Most Indian bank deposits compound interest quarterly (4 times/year). As interest is credited to the principal every 3 months, subsequent quarters earn interest on past interest, producing an effective annual yield that exceeds the nominal advertised rate.

DICGC Deposit Insurance

Eligible bank deposits are covered by DICGC deposit insurance subject to applicable rules and limits. The current statutory insurance limit is ₹5 Lakh per depositor per bank, encompassing both principal and interest combined.

Inflation & Post-Tax Returns

FD interest is treated as taxable income under income tax slabs. After adjusting for tax deductions and prevailing annual inflation, evaluate your real net yield to ensure your capital preserves long-term purchasing power.

Mathematical FD Formulas & Methodology

EasyToolio computes Fixed Deposit maturity values using standard RBI and banking compound interest methodologies:

1. Compound Interest (Quarterly / Periodic Compounding): A = P × [1 + (r / n)]^(n × t)

2. Target Goal (Required Deposit Principal): P = A / [1 + (r / n)]^(n × t)

• P (Principal): Initial deposit amount (e.g. ₹1,00,000)

• r (Annual Rate): Nominal annual rate in decimal form (e.g. 7.5% = 0.075)

• n (Compounding Periods): Cycles per year (Quarterly: 4, Monthly: 12, Half-Yearly: 2, Yearly: 1)

• t (Tenure in Years): Total investment duration in years

Live Standard Worked Example:

For a deposit of ₹1,00,000 at 7.50% p.a. for 3 years with quarterly compounding (n=4):
Quarterly rate = 0.075 / 4 = 0.01875. Total quarters = 4 × 3 = 12.
Maturity = 1,00,000 × (1.01875)^12 = ₹1,24,972. Interest Earned = ₹24,972.

Cumulative Fixed Deposit

In a cumulative fixed deposit, interest is retained in the account, compounded quarterly, and paid out along with the principal at maturity.

• Best suited for wealth accumulation and goal planning.
• Yields maximum maturity value due to uninterrupted compound growth.

Non-Cumulative Fixed Deposit

In a non-cumulative FD, interest is disbursed periodically (monthly, quarterly, half-yearly, or yearly) directly into the depositor's savings account.

• Best suited for retirees and individuals needing regular cash flow.
• Principal remains untouched and is refunded at the end of the term.

Related Wealth & Savings Calculators

RD Calculator SIP Calculator Lumpsum Calculator Compound Interest Simple Interest Inflation Calculator PPF Calculator Compare 2 FDs

Estimate only: This calculator uses the assumptions you enter. Actual FD maturity, interest payout, taxation, TDS and premature-withdrawal terms depend on the financial institution, product and applicable rules.