How is FD maturity calculated?

Maturity = P × (1 + r/400)^(4×years), using the quarterly compounding standard for Indian banks.

Which FD rate should I enter?

Check your bank's current rate — PSU banks ~6.5–7.5%, private ~7–8.5%, small finance banks up to ~9%+ (Aug 2026, indicative).

FD Calculator – Fixed Deposit Interest & Maturity (All Banks)

Q: Is FD interest taxable?

Yes, at your slab; 10% TDS when yearly interest exceeds ₹40,000 (₹50,000 for seniors).

Q: What's the difference between cumulative and non-cumulative?

Cumulative pays everything at maturity with compounding; non-cumulative pays interest monthly/quarterly as income.

Last updated: 21 August 2026 • By Sagar Barde • Free tool • No signup needed

🏦 FD Calculator — Fixed Deposit Maturity & Interest

Deposit Amount (₹)

Interest Rate (% p.a.)

Years

Extra Months

Indian banks compound FD interest quarterly — this calculator uses that. Typical rates (Aug 2026): PSU banks ~6.5–7.5%, private banks ~7–8.5%, small finance banks up to 9%+ for regular FDs; seniors usually get +0.50%.

At maturity

You get back: —

—

Interest Earned

—

Effective Annual Yield (quarterly compounding)

FD basics: how fixed deposits work in India

A Fixed Deposit pays a guaranteed interest rate for a fixed tenure. Interest is compounded quarterly by Indian banks and paid at maturity (cumulative) or every month/quarter (non-cumulative — popular with retirees). Your deposit is insured up to ₹5 lakh per bank by DICGC, which is why keeping FDs across banks is safer than one huge FD.

Tax-saving FD (5-year lock-in, up to ₹1.5 lakh deduction under 80C) — but interest is still taxable.
Senior citizens get +0.25 to +0.75% extra rate in most banks.
FD vs RD vs SIP: FD = guaranteed but taxable; RD = disciplined monthly saving; SIP = market-linked, higher long-term potential (see our SIP calculator and FD guide).

Frequently Asked Questions

Q: How is FD interest calculated?

A>With quarterly compounding: Maturity = P × (1 + r/400)^(4×years). This calculator does exactly that.

Q: Which bank gives the highest FD rate?

A>Small finance banks (e.g. some offer 8.5–9.5%) usually top the chart; PSU banks are lower but very safe. Compare on the bank's site — rates change with every RBI repo decision.

Q: Is FD interest taxable?

A>Yes, at your income tax slab. Banks deduct 10% TDS when interest exceeds ₹40,000/year (₹50,000 for seniors).

Q: What is the difference between cumulative and non-cumulative FD?

A>Cumulative reinvests interest and pays everything at maturity (higher total); non-cumulative pays interest monthly/quarterly (regular income, lower total).

Q: Can I break an FD early?

A>Yes, but most banks charge a penalty (0.5–1%) and pay the lower rate for the actual tenure — check the terms before breaking.

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FD Calculator — Fixed Deposit Maturity Calculator

FD basics: how fixed deposits work in India

Frequently Asked Questions