FD Calculator

A fixed deposit is a bank or NBFC investment where you lock a single lump sum for a fixed tenure at a fixed interest rate agreed at booking. The rate does not change for the life of the deposit, and you get the principal plus accumulated interest back at maturity.

For a cumulative FD it uses the compound-interest formula M = P × (1 + r/n)^(n × t), where P is your deposit, r is the annual rate as a decimal, n is how many times interest compounds per year, and t is the tenure in years. Interest earned is simply M − P.

Quarterly compounding (n = 4) is the prevailing convention Indian banks use for term deposits beyond a few months, which is why it is the default here. The RBI does not mandate a specific frequency for term deposits, so you can switch to monthly, half-yearly or yearly to match your bank.

Yes. For the same rate and tenure, monthly compounding earns slightly more than quarterly, which earns more than half-yearly or yearly, because interest is added to the balance more often. For example ₹1,00,000 at 7% for 5 years yields about ₹1,41,763 monthly versus ₹1,41,478 quarterly.

A cumulative FD reinvests interest every period and pays the whole lot at maturity — that is what this calculator models. A non-cumulative FD pays interest out periodically (monthly, quarterly or annually) to a separate account and is not covered here.

No. The figure shown is the gross maturity value. Banks deduct tax at source (TDS) on FD interest above the annual exemption threshold, so your in-hand amount may be a little lower depending on your tax situation and any Form 15G/15H you submit.

Senior citizens usually get a rate premium (often around 0.25–0.75% extra). This calculator does not add it automatically — enter the actual senior-citizen rate your bank quotes and the maturity value updates accordingly.

An FD is a single lump sum deposited once at the start. A recurring deposit is a fixed amount paid every month. Because an RD has many smaller deposits each invested for a different length of time, its maturity maths differs — use an RD calculator for that.

Most banks apply a premature-withdrawal penalty (commonly 0.5–1% off the applicable rate), so you earn less than the maturity value shown here. This calculator assumes you hold the deposit to maturity and does not model penalties.

Yes. Enter whole years plus any remaining months and the calculator uses t = years + months/12, applying the compound formula with a fractional exponent for the part-period — the same way standard FD calculators handle a tenure like 5 years 6 months.

Yes. The rate is locked when you book the deposit and does not change even if the bank’s published rates move during your tenure. That certainty is the main appeal of an FD versus a floating-rate or market-linked product.

The maths is the same compound-interest formula. An FD is the bank-product framing of it: a single lump sum, a rate fixed at booking, and quarterly compounding by convention. The generic Compound Interest Calculator additionally lets you add regular contributions, which an FD does not.

There is no single national minimum or maximum set by the RBI for scheduled commercial banks — each bank sets its own limits. A common minimum is ₹1,000, though some banks accept ₹500. There is no upper cap for most bank FDs; large deposits may require additional KYC documentation. NBFCs and the Senior Citizen Savings Scheme have their own rules. Check directly with your bank.

For a 3-month (one-quarter) tenure with quarterly compounding (n = 4), the exponent n × t = 4 × (3/12) = 1, so the formula simplifies to M = P × (1 + r/4). For example, ₹1,00,000 at 7% for 3 months gives M = 1,00,000 × (1.0175) = ₹1,01,750 and interest of ₹1,750. Enter years = 0 and months = 3 in the calculator to get this automatically.

Most cumulative FDs (the reinvesting type this calculator models) use compound interest — interest is added to the balance each compounding period and then earns more interest. A few short-tenor FDs (often under 6 months) and some non-cumulative payout FDs may use simple interest for the calculation. This calculator models the compound-interest cumulative FD, which is the most common type. For a simple-interest FD, the maturity is just P + P × r × t.