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FD Calculator
Estimate a fixed-deposit maturity with quarterly compounding — the convention most Indian banks use. ₹, live in your browser.
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Quick Answer
Enter a deposit, an annual interest rate and a tenure in years, and it returns the maturity amount and the interest earned for a fixed deposit. It compounds quarterly — A = P(1 + r/4) to the power (4 × years) — which is the convention most Indian banks follow. ₹1,00,000 at 7% for 5 years matures to about ₹1,41,478. It runs live in your browser.
What the FD Calculator Does
Put in a deposit amount, an annual interest rate and a tenure in years, and the tool shows the maturity amount and the interest you'd earn. It works in rupees and recalculates as you type.
A fixed deposit locks a lump sum for a set term at a fixed rate. This projects a cumulative FD, where the interest is reinvested each quarter — which is why the effective yield comes out a little above the headline rate.
How It Works
It applies compound interest at a quarterly frequency: A = P × (1 + r/4) raised to the power of 4 times the years, where the quarterly rate is the annual rate divided by four and there are four periods a year.
The maturity is A and the interest earned is A minus the deposit. Quarterly compounding is fixed because that's what most Indian banks use to work out FD maturity.
Methodology
- Step 1. Take the deposit P, the annual rate r (as a percentage) and the tenure y in years.
- Step 2. Compound quarterly: A = P × (1 + r/100/4) to the power of (4 × y).
- Step 3. Report the maturity amount A and the interest, which is A − P.
- Step 4. Recompute live whenever an input changes.
FD maturity (quarterly compounding)
A = P × (1 + r/4)^(4 × y)
P = deposit, r = annual rate (decimal), y = years
quarterly rate = r/4, periods = 4y; Interest = A − PWorked examples
₹1,00,000 at 7% for 5 years, compounded quarterly: A ≈ ₹1,41,478 (interest ≈ ₹41,478)Four compounding periods a year make the effective rate a touch above the 7% nominalIndian banks typically compound FD interest quarterly, which is why the frequency is fixed at four rather than adjustable. This models a cumulative FD; a payout (non-cumulative) FD that pays interest out each quarter does not grow this way.
Assumptions
- Quarterly compounding (four periods a year) — the standard Indian bank convention, though some products differ.
- A fixed rate for the whole tenure, and a cumulative FD where interest is reinvested rather than paid out.
- No tax deducted — FD interest is taxable and banks apply TDS, so the figure is gross.
- You hold the deposit to maturity; breaking it early usually carries a rate penalty.
Technical Details
| Inputs | Deposit, annual rate %, years |
|---|---|
| Compounding | Quarterly (fixed, n = 4) |
| Outputs | Maturity amount, interest earned |
| Type modelled | Cumulative FD |
| Currency | Rupees (₹) |
| Formula | A = P(1 + r/4)^(4y) |
| Where it runs | In your browser, live |
Standards & references
- A = P(1 + r/4)^(4y) — compound interest at a quarterly frequency — the formula behind a cumulative fixed deposit's maturity.
- Indian bank convention — most banks compound FD interest quarterly to arrive at the maturity value.
- Cumulative vs non-cumulative — a cumulative FD reinvests interest (what this models); a non-cumulative FD pays interest out periodically and doesn't compound to the same maturity.
Accuracy & Limitations
It fixes quarterly compounding. If your bank compounds on a different basis, or you pick a non-cumulative FD that pays interest out, the maturity will differ — use the compound interest calculator to model other frequencies.
The figure is gross. Banks deduct TDS and the interest is taxable, so the amount actually in your hand is lower.
It assumes you hold to maturity; an early withdrawal usually reduces the rate and the interest earned.
Senior-citizen and special-scheme rates aren't built in — enter the exact rate you're offered.
Real-World Use Cases
Estimate before booking
See an FD's likely maturity before you commit the money.
Compare banks and tenures
Check how different rates or terms change the maturity.
Verify a quote
Sanity-check the maturity figure a bank shows you.
Plan a safe return
Project a low-risk, lump-sum outcome for goal planning.
When to use it — and when not to
Good for
- Indian-style bank FDs (quarterly compounding)
- Maturity estimates before booking
- Comparing rates and tenures
- Low-risk lump-sum planning
Not the best choice for
- Monthly deposits
- A different compounding basis
- After-tax, in-hand figures
Depositing a fixed amount every month instead? Use the RD calculator. Want to choose the compounding frequency? Use the compound interest calculator. And note FD interest is taxable — the maturity shown is before tax.
Frequently Asked Questions
How is FD maturity calculated here?
With compound interest at a quarterly frequency: A = P × (1 + r/4) to the power of 4 times the years. The interest earned is the maturity minus your deposit.
Why quarterly compounding?
Because that's the convention most Indian banks use to calculate FD maturity. Fixing it at four periods a year matches how the banks actually work it out.
What does ₹1,00,000 at 7% for 5 years mature to?
About ₹1,41,478, of which roughly ₹41,478 is interest, with interest compounded quarterly over the five years.
What's the difference between cumulative and non-cumulative?
A cumulative FD reinvests the interest each quarter and pays it all at maturity — that's what this models. A non-cumulative FD pays interest out periodically, so it doesn't grow to the same maturity figure.
Is tax deducted from the result?
No. The maturity is gross. FD interest is taxable and banks deduct TDS, so your in-hand amount will be lower.
Can I change the compounding frequency?
Not here — it's fixed at quarterly to match bank practice. If you need yearly, monthly or daily, use the compound interest calculator.
How is an FD different from an RD?
A fixed deposit is a single lump sum; a recurring deposit is a fixed amount paid in every month. For an RD, use the RD calculator.
What happens if I withdraw early?
Banks usually apply a penalty and a lower rate for premature withdrawal, which this calculator doesn't model — it assumes you hold to maturity.
Are senior-citizen rates included?
No. Just enter the rate you're actually offered, including any senior-citizen or special-scheme bonus, and the maturity updates.
Why is the effective rate higher than the rate I entered?
Quarterly compounding means interest earns interest four times a year, so the effective annual yield sits a little above the nominal rate you typed.
Is the rate fixed for the term?
Yes — a fixed deposit holds one rate for the whole tenure, which is what the calculation assumes.
What currency does it use?
Rupees, since FDs are described that way in India, but the maths applies to any currency.
References
Models a cumulative fixed deposit with quarterly compounding — A = P(1 + r/4)^(4y), the convention most Indian banks use — as a gross figure, before TDS and income tax on the interest.
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