Estimate your FD maturity amount, total interest earned and effective rate. Compare compounding options and see the extra a senior citizen rate can add.
Multiple Compounding Options
Senior Citizen Special Rates
100% Free & Easy to Use
Your FD Maturity Details
Maturity Amount
₹1,38,042
Total Interest Earned₹38,042
Effective Interest Rate6.50% p.a.
Principal Amount₹1,00,000
Interest Earned₹38,042
Maturity Amount₹1,38,042
Note: Rates are indicative and may vary by bank and product type.
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The formula
What is the FD maturity formula?
Most banks compound FD interest, meaning the interest earned each period is added back to the principal before the next round of interest is calculated. The formula used by this fixed deposit calculator is:
A = P × (1 + r/n)(n × t)
AMaturity amountPPrincipal amountrAnnual ratenCompounds / yeartTenure in years
Here, A is the maturity amount, P is the principal (deposit amount), r is the annual interest rate (as a decimal), n is the number of times interest is compounded per year, and t is the tenure in years. The calculator above applies this exact formula the moment you change any input.
Tax / TDS
How is tax (TDS) deducted on FD interest?
Interest earned on a fixed deposit is fully taxable and gets added to your total income, taxed as per your applicable income tax slab. If the total interest paid by a bank in a financial year exceeds ₹40,000 for regular customers or ₹50,000 for senior citizens, the bank deducts TDS (Tax Deducted at Source) before crediting the interest. If your total income is below the taxable limit, you can submit Form 15G or 15H to avoid TDS deduction.
Regular citizen₹40,000TDS limit (interest in a year)
Senior citizen₹50,000TDS limit (interest in a year)
TDS is deducted on interest, not on the principal amount.
Compounding
How compounding frequency affects FD returns
For the same amount, rate and tenure, a higher compounding frequency produces a slightly higher maturity amount, since interest is added to the principal more often. The table below compares your current inputs across all four compounding options:
Yearly₹ 1,37,009Interest ₹ 37,009
Half-Yearly₹ 1,37,689Interest ₹ 37,689
Quarterly₹ 1,38,042Interest ₹ 38,042
Best returnMonthly₹ 1,38,282Interest ₹ 38,282+ ₹1,273 vs. yearly
FAQs
FD Calculator FAQs
An FD calculator uses the standard compound interest formula, so its estimate is quite accurate. The actual maturity amount can vary slightly based on your bank's specific policy, rounding rules, and the interest rate applicable at the time of booking.
Disclaimer: This FD calculator is for informational and estimation purposes only and is not an official tool of any bank. Please check the current interest rates with your bank before investing.
