Fixed Deposit (FD) Calculator
Calculate your Fixed Deposit maturity amount with different compounding frequencies. Visual charts and shareable calculations included.
Fixed Deposit (FD) Calculator
About This Calculator
A Fixed Deposit (FD) is a financial instrument provided by banks which provides investors with a higher rate of interest than a regular savings account, until the given maturity date.
Our FD calculator uses compound interest formula to calculate the maturity amount based on different compounding frequencies - annually, half-yearly, quarterly, or monthly.
FD Formula:
Maturity Amount = P(1 + r/n)^(nt)
Where:
- P: Principal amount
- r: Annual interest rate
- n: Number of times interest is compounded per year
- t: Time period in years
Features:
- Multiple compounding frequency options
- Visual growth chart
- Quarterly breakdown table
- Shareable calculation links
- Auto-calculation from URLs
Compounding Frequencies:
- Annually: Interest compounded once per year
- Half-Yearly: Interest compounded twice per year
- Quarterly: Interest compounded four times per year
- Monthly: Interest compounded twelve times per year
Frequently Asked Questions
What is Fixed Deposit (FD)?
Fixed Deposit is a savings instrument where you invest a lump sum amount for a fixed tenure at a predetermined interest rate. The money is locked in for the chosen period, and you receive the principal plus interest at maturity. FDs offer higher interest rates than savings accounts and are considered safe investments.
How is FD interest calculated?
FD interest is calculated using the compound interest formula: A = P(1 + r/n)^(nt), where A is maturity amount, P is principal, r is annual interest rate, n is compounding frequency per year, and t is tenure in years. Most banks in India compound interest quarterly for FDs.
What is the current FD interest rate in India?
FD interest rates in India range from 6.5% to 8.5% for general citizens and 7.0% to 9.0% for senior citizens (2026). Small finance banks typically offer higher rates (8-8.5%), while major banks like SBI, HDFC, and ICICI offer 7-7.5% for tenures of 1-5 years.
What is the minimum amount for FD?
The minimum FD amount varies by bank but typically ranges from ₹1,000 to ₹10,000. Most major banks allow FDs starting at ₹10,000, while some banks and post offices accept FDs as low as ₹1,000. There is no upper limit for FD investments.
Is FD interest taxable?
Yes, FD interest is taxable as "Income from Other Sources." Banks deduct TDS at 10% if interest exceeds ₹40,000 per year (₹50,000 for senior citizens). If your total income is below taxable limit, submit Form 15G/15H to avoid TDS. The interest is added to your taxable income and taxed as per your slab rate.
Can I break FD before maturity?
Yes, you can prematurely withdraw an FD, but banks charge a penalty (usually 0.5-1% lower interest rate). Some banks offer "Flexi FD" or "Sweep-in FD" facilities that allow partial withdrawals without penalty. Tax-saver FDs (5-year) cannot be broken before maturity.
What is the maximum tenure for FD?
FD tenures range from 7 days to 10 years. Most banks offer FDs for 7 days to 10 years, with popular tenures being 1 year, 2 years, 3 years, and 5 years. For tax benefits under Section 80C, you need to invest in 5-year tax-saver FDs.
Which bank gives highest FD interest?
Small finance banks like AU Small Finance Bank, Ujjivan, and Equitas typically offer the highest FD rates (8-8.5%). Among major banks, IDFC First Bank, Yes Bank, and RBL Bank often offer competitive rates (7.5-8%). Compare rates across banks before investing.
Is FD better than RD?
FD is better for lump sum investments as it earns interest on the full amount from day one. RD is better for regular monthly savings. For the same amount invested, FD yields higher returns than RD because the entire principal earns interest throughout the tenure in FD.
What happens if I don't renew my FD after maturity?
If you don't renew your FD after maturity, most banks automatically renew it for the same tenure at the prevailing interest rate (this is called "auto-renewal"). You can choose to auto-renew principal only or principal + interest. You can also opt out of auto-renewal while opening the FD.