About the FD Calculator
A fixed deposit, also called a term deposit or CD, pays a set rate of interest if you leave the money for a set time. Enter the deposit, the yearly rate and the tenure in years, months and days. Choose how often interest is added, or simple interest at maturity, and the calculator shows the maturity amount, the total interest and the effective annual yield. Choose monthly payout instead and it shows the interest you would receive every month. Banks compound and round in their own ways, pay different rates for different tenures and ages, and may charge penalties for early withdrawal or deduct tax at source, so their figures can differ from these estimates by a few units.
Updated September 2026
How to use the FD Calculator
- 1Enter the deposit amount and the yearly interest rate.
- 2Enter the tenure in years, months and days.
- 3Choose how often interest is added, or simple interest at maturity.
- 4Pick At maturity or Monthly payout.
- 5Read the maturity amount, interest and yield, and check the year-by-year table.
How FD maturity is calculated
The maturity amount is the deposit plus all the interest it earns during the tenure. With compound interest, each period's interest is added to the balance before the next period is worked out, so the balance grows a little faster each time. The formula is A = P × (1 + r ÷ n)^(n × t), where r is the yearly rate as a decimal, n is the number of compounding periods a year and t is the tenure in years.
For simple interest at maturity, the formula is A = P × (1 + r × t), which grows in a straight line.
Compounding: monthly, quarterly, yearly
Banks quote the same rate but may add interest at different intervals. Quarterly is common for many fixed deposits. Monthly gives a little more, and yearly a little less. The table shows the balance at the end of each whole year, with a last row for any part year.
- Monthly: 12 periods a year
- Quarterly: 4 periods a year
- Half-yearly: 2 periods a year
- Yearly: 1 period a year
Cumulative vs monthly payout
In a cumulative FD you collect everything at maturity, which suits a goal such as fees or a house deposit. In a payout FD you take the interest each month as income, and the deposit is returned at the end. Because payouts are not reinvested, they add up to less than the cumulative total over the same tenure. The payout view shows the monthly amount and the total paid.
Comparing FDs with other savings
An FD gives a fixed, predictable return, and it usually pays less than investments that carry risk. To compare it with regular monthly investing, try the SIP Calculator. To test other rates and compounding without a fixed tenure, use the Compound Interest Calculator, and use the Loan Calculator when you borrow instead of save. The Percentage Calculator helps with quick comparisons of rates. These results are estimates and not financial advice.
Features
- Maturity amount and total interest
- Monthly, quarterly, half-yearly, yearly or simple interest
- Tenure in years, months and days
- Monthly interest payout option
- Effective annual yield
- Year-by-year growth table
- Currency symbol picker with Indian grouping for rupees
- Runs in your browser
Frequently asked questions
How is FD interest calculated?
With compounding, the maturity amount is the deposit times one plus the rate divided by the number of periods per year, raised to the power of periods per year times years. For 100,000 at 7 percent compounded quarterly for 5 years that comes to about 141,477.82.
What is the difference between cumulative and payout FDs?
A cumulative deposit keeps adding interest to the balance and pays everything at maturity. A payout deposit pays the interest out every month, so the balance does not grow and the principal comes back at the end. Choose Monthly payout to see the monthly amount.
How does compounding frequency change the maturity amount?
The more often interest is added, the more you earn. On 100,000 at 7 percent for 5 years, yearly compounding gives about 140,255, quarterly about 141,478 and monthly about 141,763. Simple interest at maturity gives 135,000.
What is effective annual yield?
It is the single yearly rate that would give the same result as your compounding. A 7 percent rate compounded quarterly is worth about 7.186 percent a year, and compounded monthly about 7.229 percent.
How do I calculate FD returns for days and months?
Enter them in the Months and Days boxes. Months count as a twelfth of a year and days as a 365th, so 6 months is 0.5 years and 400 days is about 1.096 years. The calculator adds them up for you.
Is FD interest taxable?
In most countries, yes, and some banks deduct tax at source. Rules differ by country and by your income, so check with your bank or a tax adviser. This calculator shows interest before any tax.
Why does my bank show a slightly different amount?
Banks may compound on different dates, count days in their own way or round each period. They also offer different rates for different tenures and for senior customers. Use this page for a close estimate and the bank's figure for the final answer.