How is FD maturity calculated?
For a cumulative FD, maturity = deposit × (1 + rate ÷ n)^(n × years), where n is the number of compounding periods per year. Interest is reinvested, so it compounds over the tenure.
Savings & Deposits calculator
FD Calculator India
Estimate the maturity value and interest of a cumulative fixed deposit in India from the deposit amount, annual rate, tenure, and compounding frequency, with an optional senior citizen extra rate and a year-by-year growth table.
Interactive calculator
Estimate your fixed deposit maturity
Enter the deposit, rate, tenure, and compounding to see the maturity value and interest. This is a cumulative FD estimate before TDS or tax.
Limitations
- Actual bank rules, day-count conventions, and rounding may differ.
- TDS and income tax on interest are not calculated.
- Premature-withdrawal penalties are not calculated.
- A monthly payout FD is different from this cumulative FD.
- Interest rates change by bank, tenure, amount, and customer type.
Year-by-year growth
Estimated balance and interest earned at the end of each year, based on the entered rate and compounding.
| Period | Estimated balance | Interest earned |
|---|---|---|
| Year 1 | ₹1,07,186 | ₹7,186 |
| Year 2 | ₹1,14,888 | ₹14,888 |
| Year 3 | ₹1,23,144 | ₹23,144 |
What to do next
Continue your decision
Formula, example, assumptions, and FAQs — open any section for the detail.
Formula
Cumulative FD maturity
A = P × (1 + r ÷ n)^(n × t)P is the deposit, r is the annual rate as a decimal, n is the number of compounding periods per year, and t is the tenure in years. Interest is added back to the deposit, so it compounds.
Interest earned
Interest = A − PThe total interest is simply the maturity amount minus the original deposit. At a 0% rate, the maturity equals the deposit.
Compounding frequency
Yearly n = 1 · Half-yearly n = 2 · Quarterly n = 4 · Monthly n = 12More frequent compounding gives a slightly higher maturity for the same stated rate. Most Indian bank FDs compound quarterly.
Tenure conversion and effective yield
Years t = value · Months t = value ÷ 12 · Days t = value ÷ 365 · Effective yield = ((1 + r ÷ n)^n − 1) × 100Months and days are converted to years using 12 months and 365 days. The effective annual yield shows the real annualised return after compounding.
Worked example
Example: ₹1,00,000 at 7% for 3 years, quarterly
A saver places ₹1,00,000 in a cumulative FD at 7% annual interest for 3 years, compounded quarterly, with no senior citizen add-on.
Calculation:n = 4, t = 3, so A = 1,00,000 × (1 + 0.07 ÷ 4)^(4 × 3) = 1,00,000 × (1.0175)^12 ≈ ₹1,23,144. Interest = ₹1,23,144 − ₹1,00,000 = ₹23,144. Effective annual yield ≈ 7.19%.
Result:The deposit matures at about ₹1,23,144, earning roughly ₹23,144 in interest. The effective annual yield is about 7.19% because quarterly compounding adds slightly to the 7% stated rate. This is before any TDS or income tax.
Assumptions
- This models a cumulative FD where interest is reinvested and paid at maturity, not a monthly or quarterly payout FD.
- The interest rate stays fixed for the whole tenure.
- Months are converted to years by dividing by 12, and days by dividing by 365.
- Quarterly compounding is used by default because it is common for Indian bank FDs; you can change it.
- The senior citizen extra rate is an optional add-on you enter; the calculator does not assume a fixed value because banks differ.
- TDS, income tax, and any premature-withdrawal penalty are not calculated.
- Results are rounded to whole rupees and are an estimate, not a bank quote.
Common mistakes
- Assuming FD interest is tax-free. Interest is generally taxable and TDS may apply.
- Comparing rates across banks without checking that the tenure is the same.
- Ignoring premature-withdrawal penalties when money may be needed early.
- Confusing a cumulative FD with a monthly payout FD, which pays interest out instead of compounding it.
- Assuming the senior citizen extra rate is the same at every bank.
- Entering months or days without realising they are converted to years for the formula.
- Treating the estimated maturity as an exact bank quote rather than a planning figure.
Accuracy notes
The maturity uses the standard cumulative compound-interest formula and is rounded to whole rupees. Months and days are converted to years using 12 and 365. Actual bank figures can differ because of day-count conventions, rounding, rate slabs, and compounding rules. TDS, tax, and premature-withdrawal penalties are not included.
Frequently asked questions
What is quarterly compounding?
Quarterly compounding means interest is calculated and added back four times a year. Because each addition then earns more interest, the effective annual yield is slightly higher than the stated rate.
Is FD interest taxable?
In general, FD interest is taxable as income in India and can attract TDS depending on the amount and your details. This calculator estimates the gross maturity only and does not compute tax.
Does this include TDS?
No. The maturity and interest shown are before any TDS or income tax. Your actual in-hand amount may be lower after tax.
Is a monthly payout FD different?
Yes. A payout (non-cumulative) FD pays interest out monthly, quarterly, or yearly instead of reinvesting it, so it does not compound the same way. This calculator covers cumulative FDs only.
Can senior citizens use this calculator?
Yes. Enter the bank’s senior citizen extra rate in the optional field. The calculator adds it to the base rate. There is no fixed senior rate because it varies by bank and scheme.
Why do banks show slightly different FD maturity amounts?
Banks may use different compounding frequencies, day-count conventions, rounding rules, or rate slabs. Small differences from this estimate are normal; confirm the exact figure with your bank.
What happens if I break the FD early?
Premature withdrawal usually attracts a lower interest rate and sometimes a penalty, so you may receive less than the maturity shown here. This calculator does not model early withdrawal.
This calculator provides a general estimate for planning and education only. It is not a bank quote, deposit offer, or financial advice. Actual FD interest, maturity, taxes, TDS, and penalties depend on the bank, scheme, tenure, amount, and your profile. Confirm figures with your bank before deciding.Read the full disclaimer.