DepositCalc

India FD Calculator (Fixed Deposit)

Lump-sum deposit, quarterly compounding — see your maturity value and total interest earned.

Deposit amount

Rs.

Interest rate (% p.a.)

Tenure (years)

Maturity value

Rs. 1,41,478

Interest is compounded quarterly, as is standard for Indian bank FDs.

Interest earned: Rs. 41,478

What you entered

Deposit amount: Rs. 1,00,000Interest rate (% p.a.): 7%Tenure (years): 5

1
Quarterly interest rate
r = 7% ÷ 4= 1.7500%
2
Total compounding periods
n = 4 × 5= 20 quarters
3
Maturity value
A = Rs. 1,00,000.00 × (1 + r)ⁿ= Rs. 1,41,477.82
4
Interest earned
Rs. 1,41,477.82 − Rs. 1,00,000.00= Rs. 41,477.82

Result

Maturity value: Rs. 1,41,478

A Rs. 1,00,000 fixed deposit at 7% for 5 years matures to Rs. 1,41,478, earning Rs. 41,478 in interest.

Fixed deposit maturity value at 7% per annum

Bank FDs compound quarterly, which this calculator applies. Each cell is what the deposit grows to over the tenure in the column heading at a 7% annual rate.

Deposit amount	After 1 year	After 3 years	After 5 years	After 10 years
Rs. 50,000	Rs. 53,593	Rs. 61,572	Rs. 70,739	Rs. 1,00,080
Rs. 1,00,000	Rs. 1,07,186	Rs. 1,23,144	Rs. 1,41,478	Rs. 2,00,160
Rs. 2,00,000	Rs. 2,14,372	Rs. 2,46,288	Rs. 2,82,956	Rs. 4,00,319
Rs. 5,00,000	Rs. 5,35,930	Rs. 6,15,720	Rs. 7,07,389	Rs. 10,00,799
Rs. 10,00,000	Rs. 10,71,859	Rs. 12,31,439	Rs. 14,14,778	Rs. 20,01,597

At 7% with quarterly compounding an FD roughly doubles in ten years, which the last column shows almost exactly. Two things the maturity figure does not account for. FD interest is fully taxable at your slab rate, so a 30% taxpayer keeps closer to 4.9% net, and banks deduct TDS once interest crosses the annual threshold. And at 6% inflation a 7% FD barely preserves purchasing power. Senior citizens usually get an extra 0.5%, rates differ by bank and tenure, and breaking an FD early normally carries a penalty of around 1%.

Quarterly compounding means more than you think

A 7% annual rate compounded quarterly effectively yields about 7.19% per year — the interest-on-interest from quarterly compounding adds up, especially over longer tenures.

Tax-saver FDs lock for 5 years

Tax-saver FDs (eligible under Section 80C up to ₹1.5 lakh) have a mandatory 5-year lock-in with no premature withdrawal allowed — unlike regular FDs, which can be broken early with a penalty.

TDS on FD interest

Banks deduct 10% TDS on FD interest exceeding ₹40,000/year (₹50,000 for senior citizens). If your total income is below the taxable threshold, submit Form 15G (15H for seniors) at the start of the financial year to avoid TDS. Otherwise, interest is added to your income and taxed at your slab rate.

Frequently asked questions

How is FD maturity amount calculated?

Maturity = Principal × (1 + r/n)^(n×t), where r = annual rate, n = compounding frequency (4 for quarterly), t = years. ₹5 lakh FD at 7% for 3 years (quarterly): ₹5,00,000 × (1 + 0.07/4)^12 = ₹6,15,922. Interest earned = ₹1,15,922.

Which bank gives the highest FD rate in India?

Small finance banks and some private banks offer the highest rates (7.5–8.5%). SBI and large PSU banks typically offer 6.5–7%. Senior citizens get 0.25–0.5% extra. Compare rates, but also consider the bank's credit rating and deposit insurance (DICGC covers up to ₹5 lakh per depositor per bank).

Is FD interest taxable in India?

Yes — FD interest is fully taxable at your income tax slab rate. It's added to your 'Income from Other Sources.' Unlike equity mutual fund LTCG, there's no preferential tax rate. A 30% tax bracket reduces a 7% FD to an effective 4.9% return. Post-tax, equity mutual funds often outperform FDs over 5+ years.