FD Calculator

How this FD calculator works

A fixed deposit locks a lump sum for a set term at a fixed rate. For a cumulative FD, the interest is added back each quarter and itself earns interest — quarterly compounding:

A = P × (1 + r ÷ 4)^4t

Here P is your deposit, r is the annual interest rate (as a decimal) and t is the tenure in years. The calculator uses quarterly compounding, the usual convention for Indian bank FDs.

A worked example

Deposit ₹5,00,000 at 7.1% for 5 years. With quarterly compounding the maturity value is about ₹7,10,850 — roughly ₹2.11 lakh of interest on your ₹5 lakh. A higher rate or a longer term compounds to noticeably more.

Before you book

Remember three things: FD interest is taxed at your slab and TDS may apply; only ₹5 lakh per bank is DICGC-insured, so spread very large sums across banks; and senior citizens usually earn a higher rate. MoneyGrad lets you book partner-bank FDs and see them beside the rest of your money, not stranded in a separate app.

Frequently asked questions

What is an FD calculator?

An FD calculator estimates the maturity value of a fixed deposit — how much a lump sum grows to at a fixed interest rate over a chosen term. You enter the deposit amount, the rate and the tenure, and it shows the interest earned and the final maturity amount.

How is FD maturity calculated?

For a cumulative FD with quarterly compounding, maturity value A = P × (1 + r ÷ 4)^(4 × t), where P is the principal, r is the annual interest rate (as a decimal) and t is the tenure in years. This calculator uses quarterly compounding, the most common convention for Indian bank FDs.

Is FD interest taxable?

Yes. Interest earned on a fixed deposit is added to your income and taxed at your slab rate, and banks deduct TDS once interest crosses the annual threshold. This calculator shows the gross maturity value, before tax — your in-hand amount will be lower.

Are fixed deposits safe?

Bank deposits in India are covered by DICGC insurance up to ₹5 lakh per depositor per bank (principal and interest combined). Amounts above that, and deposits with entities that are not DICGC-covered, do not carry that protection. FD returns are fixed at booking but are not guaranteed against these limits.

Are the rates in this calculator real?

No — you enter the rate yourself, so you can model any offer. Actual FD rates vary by bank, tenure and depositor type (senior citizens often get more), and change over time. Confirm the current rate with the bank before you book.