Calculate the maturity amount and interest earned on your fixed deposit, with quarterly compounding as used by Indian banks.
M = P × (1 + r/n)n×t
Quarterly compounding (the Indian banking standard) means interest is calculated and added to your principal every 3 months, so subsequent quarters earn interest on a slightly larger base — this is why FD returns are marginally higher than simple annual interest at the same nominal rate.
Most Indian banks compound FD interest quarterly by default, though some offer monthly or annual compounding options. This calculator uses quarterly compounding, the most common convention.
Yes, interest earned on a fixed deposit is fully taxable as per your income tax slab. Banks deduct TDS if the interest earned exceeds ₹40,000 in a financial year (₹50,000 for senior citizens), but you must declare the full interest as income regardless of TDS deduction.
Yes, most FDs allow premature withdrawal, but banks typically charge a penalty (often a 0.5-1% reduction in the interest rate) for breaking the deposit early.
Yes, most banks offer an additional 0.25-0.75% interest rate to senior citizens (typically aged 60+) on fixed deposits compared to the regular rate.
A cumulative FD (the type this calculator assumes) reinvests interest and pays out the full maturity amount at the end. A non-cumulative FD pays out interest periodically (monthly/quarterly/annually) instead of compounding it.
Fixed deposits remain one of the most popular low-risk savings instruments in India, offering guaranteed returns over a fixed tenure. This calculator shows exactly how much your deposit will grow to at maturity, accounting for compounding frequency.
If you're looking for a similar but more flexible, smaller-commitment option, check our RD Calculator for recurring deposits, which let you invest a fixed amount every month instead of a lumpsum upfront.
