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Use the fields in the tool above and keep units and formats consistent.
Calculate your fixed deposit maturity amount and interest with quarterly compounding. Compare tenures, payout options and banks before you invest.
Maturity value
โน7,20,956.78
Interest earned
โน6,20,956.78
Fixed deposit results are estimates for planning and should be checked against current official rules or professional advice where applicable.
Put Rs 2 lakh in a three-year fixed deposit at 7% and you get back about Rs 2,46,288. The interest earned is Rs 46,288. With simple interest, it would have been Rs 42,000. The extra Rs 4,288 comes from quarterly compounding, which most Indian banks use for cumulative FDs.
This FD calculator shows your maturity value and total interest before you book. Enter the deposit amount, annual rate, tenure and compounding frequency. You can then compare banks, tenures and payout options side by side.
A = P ร (1 + r รท n)^(n ร t)
P is the principal and r is the annual rate in decimal. The letter n is compounding periods per year, which is 4 for quarterly. The letter t is tenure in years.
For our example: 2,00,000 ร (1 + 0.07 รท 4)^12 gives roughly Rs 2,46,288.
In a cumulative FD, interest is added back and compounds until maturity. That is where the formula above applies. A non-cumulative FD pays interest out monthly, quarterly or yearly instead. Retirees often prefer this for regular income. The payout is lower in total because nothing compounds. Short FDs under six months often pay simple interest at maturity.
Banks deduct TDS when your FD interest crosses a yearly threshold. From FY 2025-26, that limit is Rs 50,000 per bank for regular depositors. Senior citizens get a higher limit of Rs 1,00,000.
Thresholds are set in the Budget and can change. Check the current limit with your bank each year.
The best rate is not always the best deposit. A few practical checks help.
Test a few tenures against each other before you book. Bank rates change often, so confirm the rate on the day you book.
Use the fields in the tool above and keep units and formats consistent.
Review the result shown in the output area.
Confirm that the result matches your situation before using it for a decision.
Maturity is estimated using principal, annual rate and quarterly compounding.This describes the core logic used by the tool. Check any assumptions that may affect your result.
Use accurate inputs and keep units consistent.
Review the assumptions before using the result for a decision.
Compare important results with an independent or official source.
Most Indian banks compound FD interest quarterly for cumulative deposits. The formula is A = P ร (1 + r/4)^(4t). Rs 2 lakh at 7% for three years grows to about Rs 2,46,288, earning Rs 46,288 in interest.
Yes, FD interest is fully taxable at your slab rate, whether or not the bank deducts TDS. It is shown under income from other sources. TDS is only an advance collection, and you may owe more if you fall in a higher slab.
From FY 2025-26, banks deduct TDS for senior citizens only above Rs 1,00,000 of yearly FD interest. The limit applies per bank. For other depositors, the limit is Rs 50,000. Form 15H can prevent deduction if no tax is payable.
A cumulative FD earns more because interest compounds until maturity. A non-cumulative FD suits people who need regular income, such as retirees. The right pick depends on needing cash flow now or a larger lump sum later.
Banks pay interest at the rate applicable for the period held, minus a penalty. The penalty is often 0.5% to 1%. Some banks waive it for senior citizens or for deposits moved into another FD with them.
Deposits in banks covered by DICGC are insured up to Rs 5 lakh per depositor per bank. This limit includes principal and interest across all accounts in that bank. Spreading larger sums across banks keeps more money within the cover.
Tax-saving FDs usually offer rates similar to a regular five-year FD at the same bank. They carry a five-year lock-in with no premature withdrawal. The 80C benefit applies only if you file under the old tax regime.
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