How to use the FD Calculator
- 1. Enter your depositType the amount, the bank's rate and the tenure.
- 2. Pick compoundingMost Indian banks compound quarterly, so that is the default.
- 3. See your maturityGet the final amount, interest earned and effective yield.
How FD maturity is calculated
Banks use compound interest on fixed deposits: A = P × (1 + r/n)^(n × t). Here P is your deposit, r is the yearly rate, n is how many times interest compounds in a year and t is the tenure in years.
For example, ₹1,00,000 at 6.75% for 5 years with quarterly compounding grows to about ₹1,39,750. Interest earned in one quarter starts earning interest itself in the next, which is why the effective yield is higher than the headline rate.
Things to check before you book an FD
- Tax. FD interest is added to your income and taxed at your slab rate.
- TDS. Banks deduct TDS once interest crosses the yearly limit. Form 15G or 15H can stop it if you are eligible.
- Premature withdrawal. Most banks charge a penalty, often 0.5% to 1% off the rate.
- Senior citizen rate. Many banks pay extra to depositors aged 60 and above.
Comparing options? Try the RD calculator for monthly saving or the PPF calculator for tax-free long-term saving.
Frequently asked questions
Is the FD calculator result exact?
It uses the standard compound interest formula and is very close to what banks show. Small differences can come from how a bank rounds or counts days.
How often is FD interest compounded?
Most Indian banks compound fixed deposit interest quarterly. Check your bank's terms, and choose the matching option in the calculator.
Is the interest shown after tax?
No. The result is before tax. FD interest is taxable at your income tax slab rate.
Is this tool free?
Yes. You enter your name and WhatsApp number once to see your result, and all other Uncodemy tools then open without the form.