Fixed Deposit Calculator
Calculate simple interest fixed deposit returns online free. View maturity amount, total interest earned, monthly payouts, and yearly growth with charts.
About This Calculator
A fixed deposit (FD) is one of the most popular savings instruments offered by banks and financial institutions. You deposit a lump sum amount for a fixed tenure at a predetermined interest rate, and the bank returns the principal along with interest at maturity. This calculator uses the simple interest formula to compute your FD returns, suitable for short-term FDs (under 90 days) and non-cumulative (interest payout) FD accounts.
Simple Interest Formula
Simple Interest = (Principal x Rate x Time) / 100
Maturity Amount = Principal + Simple Interest
Where:
- Principal: The initial lump sum deposited
- Rate: Annual interest rate offered by the bank
- Time: Duration of the deposit in years
Regional Notes
- India: Most banks compound interest quarterly for FDs over 90 days. Simple interest applies for shorter tenures. Senior citizens get 0.25% to 0.75% higher rates. TDS applies on interest over Rs 40,000/year.
- US: Certificates of Deposit (CDs) are the US equivalent of FDs. Rates are typically compounded daily or monthly. Early withdrawal penalties are standard (3-6 months of interest).
- UK: Fixed-rate savings bonds and cash ISAs offer fixed interest. Interest may be paid annually or monthly. The Personal Savings Allowance allows up to 1,000 pounds tax-free interest for basic rate taxpayers.
Features
- Simple interest calculation for non-cumulative FD accounts
- Monthly interest projections for income planning
- Year-by-year breakdown of interest accumulation
- Growth chart and principal vs interest pie chart
- Shareable calculation links with auto-fill from URL
Frequently Asked Questions
What is a fixed deposit?
A fixed deposit (FD) is a savings account where you deposit a lump sum of money for a fixed period at a predetermined interest rate. The bank pays you interest on the deposited amount, and the entire principal plus interest is returned at maturity. FDs are considered safe investments as returns are guaranteed by the bank.
How is simple interest on FD calculated?
Simple interest on FD is calculated using the formula: Simple Interest = Principal x Rate x Time / 100. The maturity amount is Principal + Simple Interest. Simple interest FDs are typically used for tenures under 90 days and for non-cumulative (interest payout) FD accounts where interest is paid out periodically.
What is the difference between simple interest and compound interest FD?
In simple interest FD, interest is calculated only on the principal amount and paid out periodically or at maturity. In compound interest (cumulative) FD, interest earned is added back to the principal and earns interest itself, leading to higher returns. Most long-term FDs in India use quarterly compounding.
How much monthly interest will I get from my FD?
Monthly interest from an FD equals the total interest divided by the tenure in months. For example, a Rs 1,00,000 FD at 6.5% for 3 years earns Rs 19,500 total interest, giving approximately Rs 542 per month. Some banks offer monthly interest payout options for non-cumulative FDs.
Is FD interest taxable in India?
Yes, FD interest is taxable under \"Income from Other Sources\" in India. Banks deduct TDS at 10% if interest exceeds Rs 40,000 per year (Rs 50,000 for senior citizens). If your total income is below the taxable limit, submit Form 15G/15H to avoid TDS deduction.
What are the current FD interest rates in India, US, and UK?
In India, FD rates range from 6.5% to 8.5% for general citizens (2026). In the US, CD (Certificate of Deposit) rates range from 4.0% to 5.0% for 1-year terms. In the UK, fixed-rate savings bonds offer 3.5% to 4.5% for 1-year terms. Rates vary by bank and tenure.
Can I withdraw my FD before maturity?
Yes, premature withdrawal is allowed but banks charge a penalty of 0.5% to 1% on the applicable interest rate. Some FDs like tax-saver FDs (5-year lock-in under Section 80C) and certain special FDs do not permit early withdrawal.
What is the minimum amount for opening an FD?
The minimum FD amount varies by bank and country. In India, most banks require Rs 1,000 to Rs 10,000 minimum deposit. In the US, CDs typically have minimums of $500 to $1,000. In the UK, fixed-rate bonds may require 500 to 1,000 pounds minimum. Some banks offer zero-minimum FDs online.