FD Calculator
Calculate Fixed Deposit maturity & returns.
Maturity Amount
₹0
Total Interest Earned
₹0
Principal Amount
₹1,00,000
Rate of Interest
7% p.a.
Effective Annual Rate
0.00%
Investment Breakdown
How FD Interest is Calculated
Fixed Deposit interest is calculated using compound interest formula: A = P(1 + r/n)^(nt). Where P is principal, r is annual rate, n is compounding frequency, and t is time in years. Quarterly compounding gives slightly higher returns than yearly compounding.
FD Calculator - Fixed Deposit Maturity Calculator
Calculate your Fixed Deposit (FD) maturity amount with TinyTool's FD Calculator. Whether you're planning your savings, comparing bank interest rates, or estimating future returns, our free online tool gives you instant and accurate results.
What is a Fixed Deposit?
A Fixed Deposit (FD) is one of the safest investment options offered by banks and NBFCs in India. When you invest in an FD, you deposit a lump sum amount for a fixed period at a predetermined interest rate. The key features of FDs include:
- Guaranteed Returns: Interest rate is fixed at the time of investment
- Capital Safety: Principal amount is not subject to market risks
- Flexible Tenure: Options ranging from 7 days to 10 years
- Compounding Benefits: Interest can compound quarterly, monthly, or yearly
Why Use Our FD Calculator?
- Instant Calculation: Get maturity amount, interest earned, and effective annual rate in seconds
- Multiple Compounding Options: Calculate returns for monthly, quarterly, or yearly compounding
- Custom Inputs: Enter any principal amount, interest rate, and tenure
- Visual Breakdown: See the split between your principal and interest earned
- 100% Free: No registration or sign-up required
How Fixed Deposit Interest is Calculated
The maturity amount of an FD is calculated using the compound interest formula:
A = P × (1 + r/n)^(n×t)
Where:
- A = Maturity Amount
- P = Principal (Initial Investment)
- r = Annual Interest Rate (in decimal)
- n = Compounding Frequency per year (12 for monthly, 4 for quarterly, 1 for yearly)
- t = Time in years
Example Calculation
For a ₹1,00,000 FD at 7% interest for 1 year with quarterly compounding:
- P = ₹1,00,000
- r = 7/100 = 0.07
- n = 4 (quarterly)
- t = 1 year
Maturity Amount = 1,00,000 × (1 + 0.07/4)^(4×1) = ₹1,07,186
Types of Fixed Deposits in India
1. Regular Fixed Deposits
Standard FDs where you deposit a lump sum for a fixed tenure with a predetermined interest rate.
2. Tax-Saving Fixed Deposits
FDs with a 5-year lock-in period that qualify for tax deduction under Section 80C (up to ₹1.5 lakh).
3. Senior Citizen FDs
Special FDs for individuals above 60 years, offering 0.25% to 0.50% higher interest rates.
4. Flexi/Sweep-in FDs
FDs linked to your savings account that offer liquidity while earning higher interest.
5. Cumulative vs Non-Cumulative FDs
- Cumulative: Interest is compounded and paid at maturity
- Non-Cumulative: Interest is paid out periodically (monthly/quarterly)
Current FD Interest Rates (2024)
| Bank/Institution | General Rate | Senior Citizen Rate | |------------------|--------------|---------------------| | SBI | 6.50% - 7.10% | 7.00% - 7.60% | | HDFC Bank | 6.60% - 7.00% | 7.10% - 7.50% | | ICICI Bank | 6.50% - 7.00% | 7.00% - 7.50% | | Post Office | 6.90% - 7.50% | 6.90% - 7.50% | | Small Finance Banks | 7.50% - 8.50% | 8.00% - 9.00% |
Rates are indicative and subject to change. Please verify with the respective bank.
Tips for Maximizing FD Returns
- Compare Rates: Different banks offer varying interest rates; always compare before investing.
- Ladder Your FDs: Split your investment across multiple FDs with different maturity dates.
- Choose Cumulative Option: Compounding gives higher returns for long-term deposits.
- Consider Senior Citizen Benefits: If eligible, take advantage of higher rates.
- Avoid Premature Withdrawal: Breaking an FD early results in penalty and lower interest.
FD vs Other Investment Options
| Feature | Fixed Deposit | Savings Account | Mutual Funds | |---------|---------------|-----------------|--------------| | Returns | Fixed (6-8%) | Variable (3-4%) | Variable (10-15%) | | Risk | Very Low | Very Low | Medium to High | | Liquidity | Low | High | Medium | | Tax Benefits | Section 80C (5-year FD) | None | ELSS under 80C |
Frequently Asked Questions
Is FD interest taxable?
Yes, FD interest is fully taxable as per your income tax slab. TDS is deducted if interest exceeds ₹40,000 (₹50,000 for senior citizens) in a financial year.
Can I break my FD before maturity?
Yes, but premature withdrawal attracts a penalty (typically 0.5% to 1% lower interest).
Which compounding frequency is better?
Monthly compounding offers the highest effective returns, followed by quarterly, then yearly.
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