FD Calculator (India)
Maturity amount and interest of a bank fixed deposit in India, with quarterly compounding, payout options, senior-citizen rate and a TDS note.
India — usual bank term-deposit conventions and TDS on interest under section 393 of the Income-tax Act, 2025 (old section 194A), as checked on 10/24/2026.
Estimate for guidance only: check the official sources or a licensed professional before relying on it.
Frequently asked questions
How do banks calculate FD interest?
For cumulative deposits of 6 months or more, interest is compounded every quarter: A = P × (1 + r/4)^(4t). Shorter deposits earn simple interest at maturity.
Why is the monthly payout lower than one third of the quarterly payout?
Banks pay monthly interest at a discounted value, because you receive the money earlier than with quarterly payouts.
Is FD interest taxable?
Yes. FD interest is added to your income and taxed at your slab rate; TDS is only an advance deduction. Tax-saver FDs of 5 years qualify for the old-regime deduction of section 123 (old section 80C).
Related calculators: Compound Interest
How the FD calculator works
This calculator shows what a bank fixed deposit (FD) in India will be worth at maturity and how much interest it earns. It is meant for savers comparing deposits, senior citizens checking the extra rate, and anyone who wants to plan an income from interest. Enter the deposit amount, the annual interest rate, whether the depositor is a senior citizen (with the extra rate your bank offers), the tenure in years, months and days, the compounding frequency and how the interest is paid: cumulative, quarterly or monthly. The result shows the maturity amount, the interest earned, the effective annual yield, a year-by-year table and a chart.
For cumulative deposits of 6 months or more, Indian banks compound the interest every quarter: A = P × (1 + r/4)^(4t). Whole compounding periods are compounded and the broken period at the end earns simple interest, as do deposits shorter than 6 months. A quarterly payout pays P × r / 4 every three months, and a monthly payout pays the discounted value P × r / 12 ÷ (1 + r / 12). TDS of 10% (20% without PAN) applies when the interest in a financial year exceeds ₹50,000 (₹1,00,000 for senior citizens) under section 393 of the Income-tax Act, 2025 (old section 194A); the page gives an indicative first-year figure.
Example: ₹1,00,000 deposited at 7% for 5 years with quarterly compounding grows to ₹ 1,41,477.82, an interest of ₹ 41,477.82 and an effective annual yield of 7.19%. The first-year interest is ₹ 7,185.90, below the TDS threshold. Limitations: each bank has its own rules for rates, penalties on premature withdrawal and day counts, so the bank receipt prevails. Income tax on the interest is not calculated here; TDS is only an advance deduction and the final tax depends on your slab and regime.