Fixed Deposit Calculator
Calculate FD maturity amount, interest earned, and effective yield
What is the Fixed Deposit Calculator?
A fixed deposit calculator is a tool that tells you how much your FD(Fixed Deposit) will be worth after maturity. You put in a lump sum amount with a bank like SBI, HDFC, or Axis, with your agreement to leave it for a fixed period of time, and the bank pays you interest for that period of time. The tricky part is that interest can be compounded quarterly, half-yearly, or annually, and that changes the final number. CalciHub's Fixed Deposit calculator lets you enter the principal amount, interest rate, tenure, and compounding frequency to get the exact maturity amount and total interest earned.
How Does Fixed Deposit Calculator Work?
FDs use compound interest, compounded at the frequency your bank applies. More frequent compounding means slightly higher returns.
A = P × (1 + r/n)^(n×t)
A = Maturity amount
P = Principal (amount you deposit)
r = Annual interest rate (in decimal form, e.g., 7% = 0.07)
n = Number of times interest compounds per year (4 for quarterly, 2 for half-yearly)
t = Tenure in years
How to Use CalciHub's Fixed Deposit Calculator
1. Enter the deposit amount in ₹.
2. Enter the interest rate offered by your bank (check the bank's current FD rate card).
3. Enter the tenure in years and months.
4. Select the compounding frequency, quarterly is most common for Indian bank FDs.
5. Click Calculate to see the maturity amount and total interest earned.
Tip: Senior citizens usually get 0.25% to 0.50% extra interest on FDs. If you're booking an FD for a parent, check the senior citizen rate specifically.
A Quick Example
Vikram, 45, books an FD with HDFC Bank for ₹5 lakh at 7.1% per annum, for 3 years, compounded quarterly.
Principal: ₹5,00,000
Interest rate: 7.1% per annum
Tenure: 3 years
Compounding: Quarterly
Maturity amount: ₹6,17,580
Total interest earned: ₹1,17,580
Vikram earns over ₹1.17 lakh without doing anything. Fixed deposits are simple, but Calcihub's Fixed Deposit Calculator removes any doubt about what you'll actually get.
Frequently Asked Questions
Yes. FD interest is added to your income and taxed at your income tax slab rate. If your interest income exceeds ₹40,000 in a year (₹50,000 for senior citizens), the bank deducts TDS at 10%. You can submit Form 15G (or 15H for seniors) to avoid TDS if your total income is below the taxable limit.
Small finance banks like AU Small Finance Bank and Jana Small Finance Bank typically offer 8–9% interest on FDs. Among larger banks, Kotak and ICICI tend to be slightly more competitive than SBI on certain tenures. Rates change frequently, so always check the bank's current rate card before booking.
Yes, but most banks charge a premature withdrawal penalty usually 0.5% to 1% lower than the applicable rate. Some banks have lock-in FDs that can't be broken. It's advisable to check the premature withdrawal conditions before booking, especially for long tenures.
In a cumulative FD, interest compounds and you get everything at maturity. In a non-cumulative FD, interest is paid out monthly, quarterly, or annually. Retirees and those needing regular income often prefer non-cumulative FDs. If you don't need the money regularly, cumulative FDs earn more because of compounding.
Yes, completely free. No credit card or registration needed. Visit Calcihub’s Fixed Deposit Calculator anytime in seconds.
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