Fixed Deposit (FD) Calculator
Calculate how much your fixed deposit will grow to at maturity. Enter the principal, annual interest rate, tenure and compounding frequency — choose quarterly for Indian bank FDs — and get the gross maturity, tax deducted (TDS) and the net payout, plus the month-by-month growth curve.
% p.a.
years
Compounding frequency
%
Principal plus interest after withholding tax at the end of the FD term
- 1
Total compounding periods
4 × 3 = 12 - 2
Growth factor
(1 + 0.01625)^12 = 1.213408Compound growth multiplier applied to the principal. - 3
Gross maturity
100,000 × 1.213408 = 121,340.76 - 4
Tax deducted (TDS)
(121,340.76 − 100,000) × 10% = 2,134.08 - 5
Net maturity (after tax)
121,340.76 − 2,134.08 = 119,206.68
How does this calculator work?
FD maturity = P × (1 + r/n)^(n·t). Indian banks use quarterly compounding (n = 4). TDS (10% in 2024 for PAN-linked accounts) reduces interest above ₹40,000/year per bank. Enter your principal, rate, tenure and compounding to get gross maturity, TDS amount, net payout and the effective annual rate.
Formula
How this is calculated
A fixed deposit (also called a term deposit) locks your money at a guaranteed rate for a fixed period. In India (and many other countries) banks compound interest quarterly by default, so the formula is M = P × (1 + r/4)^(4t), where r is the annual rate and t is the tenure in years. Monthly or half-yearly compounding gives slightly different results for the same nominal rate; a higher compounding frequency means marginally more interest.
TDS (Tax Deducted at Source) is deducted by the bank on interest income above ₹40,000 per financial year per bank (₹50,000 for senior citizens) as of 2024 — this figure may change with each Union Budget, so confirm with your bank. The default TDS rate is 10% for PAN-linked accounts. Enter 0 if your interest income is below the threshold or if you are exempt; senior citizens earning below the basic exemption limit can submit Form 15H to avoid TDS.
The effective annual rate (EAR) converts the nominal compounded rate into its true yearly equivalent: EAR = (1 + r/n)^n − 1. This lets you compare FDs with different compounding schedules on an equal footing. The post-tax EAR applies TDS to the interest before computing the equivalent annual return.
Frequently asked questions
Most Indian scheduled commercial banks compound FD interest quarterly. Some small finance banks and NBFCs compound monthly. Check your FD receipt or account statement to confirm — choosing the wrong frequency will give an inaccurate maturity figure.
TDS is deducted when interest is credited, not at maturity for most banks (depending on the FD type). The calculator subtracts the total TDS from gross interest to show the net payout. If you're in a lower tax slab you can claim a refund by filing your ITR; if you're in a higher slab you'll owe additional tax beyond TDS.
Yes — fixed deposit (India/Asia), term deposit (Australia/UK/Europe), and certificate of deposit (USA) are functionally the same product: a lump-sum deposit at a fixed rate for a fixed term. The tax treatment and early-withdrawal penalties differ by country and bank.
TG we-Calculate Editorial Team. (2026). Fixed Deposit (FD) Calculator [Online calculator]. TG we-Calculate. https://we-calculate.com/calculator/fixed-deposit-calculator
TG we-Calculate Editorial Team. "Fixed Deposit (FD) Calculator." TG we-Calculate. 2026. https://we-calculate.com/calculator/fixed-deposit-calculator.
TG we-Calculate Editorial Team, "Fixed Deposit (FD) Calculator," TG we-Calculate, 2026. [Online]. Available: https://we-calculate.com/calculator/fixed-deposit-calculator
@misc{wecalculate_fixed_deposit_calculator, title = {Fixed Deposit (FD) Calculator}, author = {{TG we-Calculate Editorial Team}}, howpublished = {\url{https://we-calculate.com/calculator/fixed-deposit-calculator}}, year = {2026}, note = {TG we-Calculate} }
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