FD Calculator
Calculate fixed deposit returns
Enter your deposit details to calculate FD returns
This calculator uses quarterly compounding exactly as Indian banks do for cumulative FDs, separates TDS from your maturity amount, and shows a year-by-year growth chart.
A fixed deposit is probably the most straightforward financial product in India. You deposit a sum with a bank or post office, agree on a tenure, the institution locks in an interest rate, and you know exactly how much you will receive on maturity before you sign anything. No NAV fluctuations, no market cycles, no surprises. What is less obvious is how much the numbers change depending on whether your bank compounds quarterly or annually, whether you take interest monthly or let it accumulate, and how much TDS quietly eats into the final figure. Most FD calculators online give you one number and leave you to figure out the rest.
This FD calculator India is built differently. It computes your maturity amount using quarterly compounding exactly as SBI, HDFC, ICICI, and most Indian banks process cumulative fixed deposits. It shows your pre-tax and post-tax returns separately, breaks down TDS obligations, generates a year-by-year growth chart, and lets you compare how your maturity amount shifts across different interest rate scenarios. Enter your principal, tenure, rate, payout type, and tax rate and the full picture appears instantly without a login or a form to fill.
What Makes This FD Calculator Different From Every Other One Online
Every bank website and every personal finance platform has a fixed deposit calculator. Most of them use the same simplified annual compounding formula and show you one maturity number. The problem is that Indian banks do not compound annually on cumulative FDs. They compound quarterly. On a 5-year FD, that difference adds up to a meaningful amount. It also means the number most people see on generic calculators is understated. Here is what this one does that the others do not.
Quarterly compounding — the way banks actually calculate it
Most free FD calculators use A = P(1 + r)^t, which assumes annual compounding. SBI, HDFC, ICICI, and effectively every Indian bank compound quarterly on cumulative deposits. This calculator uses A = P(1 + r/4)^(4t), which is the correct formula. On a 5-year FD of ₹5 lakh at 7%, the difference between annual and quarterly compounding is ₹6,113 in favour of quarterly. Small but real, and you deserve the right number.
TDS deduction shown separately with Form 15G/15H guidance
Banks deduct 10% TDS when your total FD interest in a financial year crosses ₹40,000 (₹50,000 for senior citizens and ₹1 lakh for senior citizens from April 2025). Most calculators show a tax deduction but never explain what drives it or how to prevent it. This calculator separates the TDS line, shows your net maturity amount, and the results section tells you whether you are in the 15G or 15H territory based on your tax rate input.
Rate comparison chart: see what 1% more or less does to your returns
The rate comparison tab generates a bar chart and table showing your maturity amount at five rates, from 2% below to 2% above the rate you entered. This matters because FD rates change regularly and comparing across banks before locking in is worth 30 seconds of work. The table shows the exact rupee difference at each rate versus your current entry so you can see what you gain or lose by choosing one bank over another.
Maturity date calculated automatically from your start date
You enter the start date and the calculator displays your exact maturity date. This is useful when you are coordinating an FD maturity with a financial goal like a school fee payment, a home down payment, or a child's college admission. Knowing the maturity date is not just a nice-to-have: it tells you whether you need a 11-month FD or a 12-month one to hit a specific date, and in banking those two tenures often carry different interest rates.
Cumulative and non-cumulative modes both calculated accurately
Cumulative FDs compound interest and pay everything at maturity. Non-cumulative FDs pay interest monthly, quarterly, half-yearly, or annually and use simple interest on the static principal. The two products behave completely differently. This calculator switches the formula automatically when you change the payout type, so the number you see is always calculated correctly for the specific product you are evaluating, not a one-size-fits-all approximation.
Section 80C tax-saver FD benefit factored into your planning
A 5-year tax-saver FD qualifies for deduction under Section 80C up to ₹1.5 lakh per year. The calculator does not automatically apply this (because whether you have exhausted your 80C limit depends on your full financial picture) but the results section flags when your tenure qualifies and links you to the income tax calculator to run the complete picture. Use our income tax calculator to see the net post-deduction benefit on a 5-year tax-saver FD.
The FD Formula This Calculator Uses — And Why It Matters
Most people accept a maturity figure from any calculator without questioning the formula behind it. That is fine for rough planning. But if you are locking ₹5 lakh into a 5-year FD, knowing the formula lets you verify the number your bank quotes, spot whether the bank is compounding quarterly or annually, and confirm there are no errors before the money is committed.
A = P × (1 + r/4)^(4 × t)
- A = Maturity amount (what you receive at the end)
- P = Principal amount you deposit
- r = Annual interest rate ÷ 100 (as a decimal)
- t = Tenure in years (months ÷ 12)
- 4 = Number of compounding periods per year (quarterly)
Why the "4"? Because SBI, HDFC, ICICI, and most scheduled commercial banks in India compound interest every quarter on cumulative fixed deposits. Each quarter, the interest earned is added to the principal and the next quarter's interest is calculated on the higher amount. This produces a slightly higher maturity value than annual compounding and is the correct formula for Indian bank FDs.
Interest per period = P × (r / periods_per_year)
Maturity Amount = P + (P × r × t)
- P = Principal amount
- r = Annual interest rate ÷ 100
- t = Tenure in years
- For monthly payout, periods_per_year = 12. For quarterly = 4. For half-yearly = 2.
When you select monthly or quarterly payout, the bank pays out interest periodically and keeps the principal flat throughout the tenure. No compounding occurs because the interest earned each period is paid to your account rather than being reinvested. This is why cumulative FDs always produce a higher maturity amount than non-cumulative FDs at the same rate and tenure.
TDS = Interest Earned × 10% (if interest > ₹40,000 in financial year)
Net Maturity Amount = Maturity Amount − TDS Deducted
- TDS threshold: ₹40,000 per financial year for regular depositors (Section 194A)
- TDS threshold: ₹50,000 per financial year for senior citizens (above 60 years)
- From April 2025: ₹1,00,000 for senior citizens per Finance Act amendment
- TDS rate with PAN: 10%. Without PAN submitted: 20%
- Submit Form 15G (below 60 years) or Form 15H (senior citizens) if your total income is below the taxable limit to prevent automatic TDS deduction
TDS is deducted at source, not on maturity. For a 5-year FD, the bank estimates your annual interest and deducts TDS progressively during the tenure, not as a lump sum at the end. This is why the tax field in this calculator accepts your slab rate rather than a fixed 10%, giving you a more accurate picture of your actual net return.
Real Example: Exact Calculator Output Across Three Common Scenarios
These numbers come directly from this calculator using quarterly compounding. Enter the same values in the form above and the results will match exactly.
Principal: ₹1,00,000 | Rate: 6.5% p.a. | Tenure: 12 months | Payout: Cumulative | Tax: 10%
- Maturity Amount (pre-tax): ₹1,06,660 (quarterly compounding gives ₹160 more than annual compounding)
- Interest Earned: ₹6,660
- TDS Deducted: ₹666 (interest is below ₹40,000 threshold but user entered 10% slab)
- Net Maturity Amount: ₹1,05,994
- Effective Annual Yield: 6.66% (slightly higher than the stated 6.5% due to quarterly compounding)
At this interest level your annual FD interest (₹6,660) is well below the ₹40,000 TDS threshold, so your bank should not automatically deduct TDS. Submit Form 15G to confirm this formally if your income is below the taxable limit.
Principal: ₹5,00,000 | Rate: 7% p.a. | Tenure: 36 months | Payout: Cumulative | Tax: 30%
- Maturity Amount (pre-tax): ₹6,15,720
- Interest Earned: ₹1,15,720
- Annual Interest (approx): ₹38,573 — just below the TDS threshold, bank may still deduct
- Tax at 30% slab: ₹34,716
- Net Maturity Amount: ₹5,81,004
- Effective post-tax return: 4.9% per annum — below the FD headline rate by over 2%
This is the scenario that catches most investors in the 30% bracket by surprise. A 7% FD sounds solid until you realise the post-tax return is closer to 4.9%. If inflation runs at 5 to 6%, the real return on this FD is near zero or negative. This does not make FDs a bad product — it makes them the right product for the right purpose: capital safety and liquidity, not long-term wealth creation.
Principal: ₹2,00,000 | Rate: 7.5% p.a. | Tenure: 60 months | Payout: Cumulative | Tax: 0% (15H submitted)
- Maturity Amount: ₹2,89,990
- Interest Earned: ₹89,990
- TDS: ₹0 (Form 15H submitted, income below taxable limit)
- Net Maturity Amount: ₹2,89,990
- Section 80C deduction: ₹1.5 lakh claimable in year of investment (5-year FD qualifies)
For a senior citizen with no other income, this is one of the most tax-efficient uses of a fixed deposit. The 5-year lock-in qualifies for 80C deduction, Form 15H prevents TDS, and the Section 80TTB deduction (₹50,000 on interest income for senior citizens) may further reduce tax liability at filing. Use our income tax calculator to model the complete picture including 80C and 80TTB.
How to Use This FD Calculator: What to Enter and Why Each Field Matters
Step 1: Enter your principal amount
This is the lump sum you plan to deposit. The minimum for most Indian bank FDs is ₹1,000. There is no regulatory maximum, though banks may require branch visits for deposits above ₹2 crore. If you are planning an FD ladder (splitting a large corpus across multiple FDs with different maturities for liquidity), run the calculator separately for each tranche to see the cumulative picture. Also remember that DICGC insurance covers only ₹5 lakh per depositor per bank, so amounts above that threshold across FDs at the same bank carry a small but non-zero institutional risk.
Step 2: Set your tenure in months
Indian banks offer FDs from 7 days to 120 months (10 years). The tenure determines both the interest rate and the compounding periods. Most banks offer their highest standard rates in the 1 to 3 year bucket. Specific banks run special schemes at unusual tenures — SBI's Amrit Vrishti runs at 444 days (roughly 14.7 months) and currently offers 6.45% for general depositors, which is above the standard 1-year and 2-year rates. Post Office Time Deposits are available only in 1, 2, 3, and 5-year options. Check your specific bank's rate card for the tenure you plan to use, then enter it here to the month for the most accurate calculation.
Step 3: Enter the interest rate your bank quoted
Use the rate applicable to your specific tenure and depositor category. For reference as of May 2026: SBI general rates range from 3.30% (7 to 45 days) to 6.45% (444 days Amrit Vrishti). Post Office FD rates currently range from 6.9% for 1 year to 7.5% for 5 years. HDFC Bank rates go up to 6.5% for select tenures for general depositors. Senior citizens get an additional 0.25 to 0.50% at most banks. Small finance banks like AU, ESAF, and Ujjivan currently offer 8 to 9% for select tenures, though DICGC cover is the same ₹5 lakh cap. Do not use the rate from an advertisement you saw last year since rates change multiple times annually.
Step 4: Select interest payout type
Cumulative (reinvested) gives the highest maturity amount because interest compounds quarterly. Monthly or quarterly payout suits retirees and those who need regular income from the FD. For monthly payout, banks apply a discounted rate slightly below the standard rate because they pay out before the quarter ends — the difference is typically 0.25 to 0.50% and varies by bank. The calculator applies simple interest logic automatically for non-cumulative payout types. If you need income every month from a large FD corpus, see how the numbers compare to investing through our SIP calculator with a debt fund if your horizon is longer than 3 years.
Step 5: Enter your tax slab rate
FD interest is added to your total income and taxed at your applicable slab rate. This is not a flat tax and it is not the same as LTCG or STCG on equities. The most common mistake is entering 10% (TDS rate) rather than the actual slab rate (20% or 30% for middle and high earners). If you are in the 30% bracket, the net return on a 7% FD after tax is roughly 4.9%, which after inflation of 5 to 6% is approximately zero in real terms. Enter 0% if you have submitted Form 15G or 15H and your income is below the taxable limit, since TDS may still be deducted by the bank but you will recover it at filing.
FD Returns by Bank: How a ₹5 Lakh Deposit Grows Across Institutions
The interest rate differential across Indian banks and institutions for the same tenure can be 1 to 2.5% per annum. On ₹5 lakh over 5 years, that gap translates to ₹15,000 to ₹50,000 in total interest. The table below shows how ₹5 lakh grows at the approximate best rates currently available at major institutions for a 5-year tenure using quarterly compounding. These are indicative rates as of early 2026 and should be verified with each institution before investing.
| Institution | General Rate (5 yr) | Senior Citizen Rate | Maturity on ₹5L (General) | Interest Earned |
|---|---|---|---|---|
| SBI (standard) | 6.30% p.a. | 6.80% p.a. | ₹6,83,450 | ₹1,83,450 |
| HDFC Bank | 6.50% p.a. | 6.90% p.a. | ₹6,90,210 | ₹1,90,210 |
| ICICI Bank | 6.50% p.a. | 7.00% p.a. | ₹6,90,210 | ₹1,90,210 |
| Post Office TD (5 yr) | 7.50% p.a. | 7.50% p.a. | ₹7,24,974 | ₹2,24,974 |
| AU Small Finance Bank | 7.75% p.a.* | 8.25% p.a.* | ₹7,33,921 | ₹2,33,921 |
*Small finance bank rates are subject to more frequent revision than large banks. DICGC deposit insurance covers ₹5 lakh per depositor per bank regardless of institution type. Rates shown are indicative for early 2026. Always verify the current rate with the institution before booking. Post Office FDs offer 7.50% on the 5-year tranche and carry Government of India backing, making them a compelling option for conservative investors who do not need early withdrawal flexibility. To compare how an FD maturity amount grows against an equivalent RD investment, use our RD calculator.
FD vs Other Fixed-Income Options in India: Where Does an FD Fit?
Fixed deposits are the right tool for specific jobs. They are not the right tool for all jobs. Understanding where an FD fits against alternatives helps you allocate correctly rather than defaulting to FD for everything simply because it feels safe.
₹5,00,000 at 7% for 5 years = ₹7,07,389 maturity (quarterly compounding). Returns are guaranteed and declared at the time of booking. Cannot go below the stated amount regardless of market conditions. Interest is fully taxable at your slab rate.
Best suited for: emergency funds held in sweep-in FDs, short-term goals under 3 years, senior citizens needing guaranteed monthly income, conservative investors who cannot tolerate any principal risk, amounts earmarked for specific payments within a known timeframe.
Limitation: post-tax returns in the 30% slab are typically 4.5 to 5% per annum. At current inflation levels this is near-zero or slightly negative in real terms for longer tenures. FDs are not wealth creators. They are capital preservers with predictable liquidity.
₹8,333 per month SIP for 5 years (same total outlay as ₹5L FD) at 12% CAGR = approximately ₹6,80,000. At 5 years equity SIP and FD are comparable, but at 10 years the SIP grows to ₹19,20,000 on ₹12L invested versus an FD rolling over at the same rate producing roughly ₹9,70,000.
Best suited for: goals 7 or more years away, salaried investors building retirement corpus, anyone who can stomach 1 to 3 year periods of negative returns in exchange for significantly higher long-term growth.
Gap vs FD: Returns are not guaranteed and can be negative in any given year. For money you cannot afford to see fall temporarily — a house down payment due in 18 months, children's school fees due next year — SIP is the wrong instrument regardless of the projected return.
The standard financial planning framework for Indian salaried investors is to hold 3 to 6 months of expenses in a sweep-in FD for liquidity, invest short-to-medium goals (1 to 5 years) in debt mutual funds or laddered FDs, and route long-term wealth goals (7 years and above) through equity mutual fund SIPs. Use our SIP calculator to see what a long-term equity SIP would produce on the same capital, and use our expense planner to figure out how much of your monthly income can be directed toward each bucket without breaking your monthly cash flow.
The Effect of Compounding Frequency: Annual vs Quarterly on a ₹1 Lakh FD
This table shows exactly why using the quarterly compounding formula matters. The difference grows with tenure and rate. For a short 1-year FD the impact is small. For a 5-year FD at higher rates it becomes meaningful enough to affect your choice of which calculator to trust.
| Principal | Rate | Tenure | Annual Compounding | Quarterly Compounding | Difference |
|---|---|---|---|---|---|
| ₹1,00,000 | 6.5% | 1 year | ₹1,06,500 | ₹1,06,660 | ₹160 |
| ₹1,00,000 | 6.5% | 3 years | ₹1,20,795 | ₹1,21,341 | ₹546 |
| ₹1,00,000 | 7.0% | 5 years | ₹1,40,255 | ₹1,41,478 | ₹1,223 |
| ₹5,00,000 | 7.0% | 5 years | ₹7,01,276 | ₹7,07,391 | ₹6,115 |
| ₹10,00,000 | 7.5% | 5 years | ₹14,35,629 | ₹14,49,948 | ₹14,319 |
Frequently Asked Questions
Disclaimer This calculator is for financial planning and educational purposes only. FD returns are guaranteed by the issuing bank up to ₹5 lakh per depositor per bank under DICGC insurance. Fintool Baba is not responsible for investment decisions made based on these calculations. For complete tax planning including Section 80C and 80TTB benefits, use our income tax calculator. To compare how a monthly savings plan in debt mutual funds compares with FDs for your specific tenure, use our RD calculator. To understand your post-FD monthly cash flow, use our expense planner.
