FD Calculator

A fixed deposit is a deposit you place with a bank for a set tenure at a fixed interest rate. You cannot freely withdraw it during the term, and in return the rate is locked in for the whole period.

Most banks compound FD interest periodically, often quarterly. Each period the interest is added to the balance and the next period earns interest on that larger balance, so compounding more frequently produces a slightly higher maturity value.

The calculator uses A = P(1 + r/n)^(nt), where P is the deposit, r is the annual rate as a decimal, n is the number of compounding periods per year and t is the tenure in years. Interest is the maturity amount minus the deposit.

Premature withdrawal is usually allowed but banks often pay a lower rate and may apply a penalty, so the actual payout can be less than the maturity value shown here. Check your bank's specific terms before breaking a deposit.

In many countries interest earned on a fixed deposit is taxable income, and banks may deduct tax at source on it. This is general information, not tax advice, so confirm the rules and rates that apply to you.

The maturity figure is an estimate based on the rate and compounding you enter. Your bank's exact convention, rounding and any taxes or charges can make the real payout differ slightly.