FD Calculator
Enter the deposit, rate and tenure (years, months and days) to get the maturity value of a cumulative FD, or the interest a payout FD sends you every month or quarter.
Year-by-year interest
Compounds interest for every full period and adds simple interest for any days left over, the way Indian banks work out term deposits. The TDS check is a rough guide based on the first 12 months. Everything is calculated in your browser.
₹5 lakh for 3 years at 7%, taken three ways
Say you have ₹5 lakh from a maturing policy and your bank offers 7% for three years. The bank will ask whether you want the interest reinvested (cumulative) or paid out to your savings account every month or every quarter. The rate is the same; what you end up with is not.
| Option | You receive | Interest over 3 years |
|---|---|---|
| Cumulative, compounded quarterly | ₹6,15,720 at maturity | ₹1,15,720 |
| Quarterly payout | ₹8,750 every quarter | ₹1,05,000 |
| Monthly payout | ₹2,900 every month | ₹1,04,390 |
The cumulative FD earns about ₹10,700 more than the quarterly payout, and about ₹11,300 more than the monthly one, because each quarter's interest starts earning interest of its own. The payout options suit someone who needs the money to run the house, such as a retired couple using the interest for monthly bills. Monthly payout is a little lower than a third of the quarterly figure, because the bank hands it over earlier; it discounts the quarterly interest at the monthly rate.
In the cumulative version, interest builds a little faster every year: about ₹35,930 in year one, ₹38,511 in year two and ₹41,279 in year three.
The formula, including odd tenures
For ₹5 lakh at 7%, the quarterly rate is 1.75% and three years is 12 quarters, so the maturity value is 5,00,000 × 1.017512, which is about ₹6,15,720.
Many banks run special tenures such as 400 or 444 days, and the second bracket handles those. Take ₹1 lakh at 7% for 1 year 6 months and 15 days. Six full quarters take it to about ₹1,10,970; the last 15 days add simple interest of about ₹319, for a maturity value of about ₹1,11,289. Fill in the years, months and days boxes above to do the same for your receipt.
When TDS kicks in
As of November 2026, section 393 of the Income-tax Act, 2025 (which replaced section 194A on 1 April 2026) makes a bank, co-operative bank or post office deduct tax when the interest it pays or credits to you in a financial year goes above ₹50,000. For senior citizens the limit is ₹1,00,000. Two details catch people out. The limit covers all your deposits with that bank put together, not each FD on its own. And interest on a cumulative FD counts every year as it is credited, even though you see none of it until maturity.
At 7% compounded quarterly, ₹7 lakh earns about ₹50,301 in its first year, just over the line, while ₹6.5 lakh earns about ₹46,708. A senior citizen getting 7.5% crosses ₹1,00,000 at around ₹13 lakh (₹1,00,277 in the first year).
TDS is not an extra tax. It appears in your tax credit statement on the income-tax e-filing portal and is set off against what you owe when you file. FD interest is taxed at your slab rate whether or not TDS was cut. If your total income is below the taxable limit, ask your branch for the self-declaration form that stops the deduction under the new Act.
Senior citizen rates
SBI's rate card dated 15 December 2025, still the current one in November 2026, gives people aged 60 and above 0.50 percentage points more on every tenure, and another 0.50 on 5–10 year deposits under its We-care scheme. Other banks set their own extras. Tick the senior box and enter your bank's figure; on ₹5 lakh for 3 years, 7.5% instead of 7% gives about ₹6,24,858 instead of ₹6,15,720.
Maturity value of ₹1 lakh at common rates
Quarterly compounding throughout. Multiply by the number of lakhs you plan to deposit.
| Rate | 1 year | 2 years | 3 years | 5 years | 10 years |
|---|---|---|---|---|---|
| 6% | ₹1,06,136 | ₹1,12,649 | ₹1,19,562 | ₹1,34,686 | ₹1,81,402 |
| 6.5% | ₹1,06,660 | ₹1,13,764 | ₹1,21,341 | ₹1,38,042 | ₹1,90,556 |
| 7% | ₹1,07,186 | ₹1,14,888 | ₹1,23,144 | ₹1,41,478 | ₹2,00,160 |
| 7.5% | ₹1,07,714 | ₹1,16,022 | ₹1,24,972 | ₹1,44,995 | ₹2,10,235 |
| 8% | ₹1,08,243 | ₹1,17,166 | ₹1,26,824 | ₹1,48,595 | ₹2,20,804 |
Monthly or quarterly compounding barely matters
For ₹1 lakh at 7% over 5 years, monthly compounding gives ₹1,41,763 and quarterly gives ₹1,41,478, a gap of under ₹300. Yearly compounding gives ₹1,40,255. Plain simple interest, which some lenders use for very short deposits, gives ₹1,35,000. When comparing banks, look at the rate first; the compounding method comes a distant second. The compound interest calculator lets you test other frequencies.
If you are saving a fixed sum each month rather than investing a lump sum, the RD calculator is the right tool, and FD vs RD vs SIP sets the three options side by side. To see what a maturity value will buy in a few years, run it through the inflation calculator.
Frequently asked questions
Why does my FD receipt show a slightly different maturity amount?
Banks count the exact days between the deposit date and the maturity date, and some round interest at each quarter. This calculator treats the leftover months as 365 ÷ 12 days each. For a tenure in whole quarters the two should agree; for odd tenures expect a gap of a few rupees.
What do I lose if I break an FD early?
Most banks pay the rate that applied to the period the money actually stayed, minus a penalty that is often 0.5% to 1%. On a 3-year FD broken after 14 months, you would get roughly the 1-year rate less the penalty. Five-year tax-saver FDs cannot be broken at all. The exact rule is in your bank's deposit terms.
Are company and NBFC fixed deposits insured?
No. DICGC insurance (₹5 lakh per depositor per bank, as of November 2026) covers banks, including small finance banks and co-operative banks registered with it. Deposits with NBFCs and companies are not covered, which is part of the reason they pay more. Their safety depends on the company, so check its credit rating.