Fixed Deposit (FD) Calculator
Enter your deposit, rate, and tenure to see the maturity value, the interest earned, and how it's actually compounded quarter by quarter.
Your numbers
₹
%/yr
Bank FD rates are usually 6.5%–7.5%/yr as of writing; check your bank's current rate.
months
Result — with the workings shown
Maturity value
₹2.3 L
after 24 months, at 7.1%/yr
Interest earned
₹30,228
How this is worked out
Indian bank FDs compound quarterly, not annually. On ₹2,00,000 at 7.1%/yr for 24 months (8 quarters), that's ₹2,00,000 × (1 + 7.1%/4) ^ 8 = ₹2.3 L at maturity — ₹30,228 of that is interest.
Principal · ₹2,00,000Interest · ₹30,228
At roughly ₹15,114/yr in interest, this stays under the ₹40,000/yr TDS threshold — no tax should be deducted at source, though the interest is still taxable income you need to declare. Breaking the FD early (premature withdrawal) usually costs a 0.5–1% lower rate than what's shown here — check your bank's specific penalty.
Terms used on this page
- FD
- Fixed Deposit — you lock in a lump sum with a bank for a set tenure at a fixed rate, in exchange for a guaranteed, predictable return.
- TDS on FD interest
- Tax Deducted at Source — banks deduct 10% tax upfront if your total FD interest from them crosses ₹40,000 in a financial year (₹50,000 for senior citizens), unless you've filed Form 15G/15H and are eligible.
- Premature withdrawal
- Breaking an FD before its tenure ends. Most banks allow it but charge a penalty (commonly 0.5–1% lower interest than what you'd have earned).