Fixed Deposit Calculator: Calculate FD Maturity Amount and Interest Online
Fixed Deposit (FD) Calculator
Estimate your maturity value, total interest earned, and annual yield across compounding options.
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If you have ever tried to work out how much a bank fixed deposit will actually be worth after five years, you already know how quickly the maths gets confusing. Interest can be simple or compound, banks pay it out monthly, quarterly or only at maturity, and every lender quotes a slightly different rate. A fixed deposit calculator removes all of that guesswork. Enter the amount you want to invest, the tenure, and the interest rate, and you get an instant, accurate maturity value along with the total interest you will earn.
This guide explains exactly how the fixed deposit calculator works, walks through the formulas banks and post offices actually use, compares current FD interest rates across SBI, post office, Axis Bank and PNB, and covers the tax rules, premature withdrawal penalties and loan-against-FD option that most calculators never explain properly.
What Is a Fixed Deposit?
A fixed deposit, or FD, is a savings instrument offered by banks, non-banking financial companies (NBFCs) and India Post, where you deposit a lump sum for a fixed tenure at a predetermined interest rate. Unlike a savings account, the rate does not change once the deposit is booked, and the money is locked in until maturity unless you choose to break it early and accept a penalty.
FDs remain one of the most widely used savings instruments in India because the returns are guaranteed and not linked to market movements, which makes them appealing to conservative savers, retirees and anyone building an emergency fund. Tenures typically range from 7 days to 10 years, and most banks accept deposits starting from as little as ₹1,000.
How the Fixed Deposit Calculator Works
A fixed deposit calculator needs three basic inputs to compute your return:
Once you enter these details, the fixed deposit interest calculator applies the correct formula and instantly displays your maturity amount, the total interest earned, and often a year-by-year growth breakdown so you can see exactly how your money compounds over the tenure.
How the Fixed Deposit Calculator Works
Most bank FDs use compound interest, calculated as:
M = P (1 + r/n)^(n×t)
Where:
- M = Maturity amount
- P = Principal (the amount you invest)
- r = Annual interest rate (in decimal form)
- n = Number of times interest compounds per year (4 for quarterly, 12 for monthly, 1 for annual)
- t = Tenure in years
Example: If you invest ₹1,00,000 in an FD at 7% per annum for 5 years, compounded quarterly:
M = 1,00,000 × (1 + 0.07/4)^(4×5) = 1,00,000 × (1.0175)^20 ≈ ₹1,41,478
Total interest earned in this case works out to approximately ₹41,478.
Fixed Deposit Return Calculator Formula (Simple Interest)
Some short-tenure or non-cumulative FDs use simple interest instead:
SI = (P × r × t) / 100
Here, the interest is calculated only on the original principal and does not compound. This formula is more common for FDs where interest is paid out monthly or quarterly rather than reinvested.
Fixed Deposit Return Calculator Formula (Simple Interest)
FD interest rates vary by bank, tenure and depositor category. Here is a snapshot of what different institutions are currently offering, useful if you are comparing an SBI fixed deposit calculator result against other banks before deciding where to invest.
| Institution | General Public Rate (p.a.) | Senior Citizen Rate (p.a.) | Notes |
| SBI | Around 3.05% to 6.45% | Around 3.55% to 6.95% | Rates vary by tenure; Amrit Vrishti scheme offers higher rates on select tenures |
| Post Office Time Deposit | 6.90% to 7.50% | Same as general public | Sovereign guarantee; no extra senior citizen rate |
| Axis Bank | Varies by tenure | Additional 0.50% typically | Rates revised periodically based on RBI policy |
| Punjab National Bank (PNB) | Varies by tenure | Additional 0.50% typically | Offers both cumulative and non-cumulative FDs |
<cite index=”12-1″>SBI currently offers 7.10% p.a. for general citizens and 7.60% for senior citizens, staff and staff pensioners on select tenures, with premature withdrawal governed by standard retail depositor rules</cite>. Rates differ meaningfully by tenure bucket, so always check the specific slab that matches your investment horizon rather than relying on a single headline figure.
For safety-focused savers, <cite index=”22-1″>Post Office Fixed Deposits carry a full sovereign guarantee from the Government of India, effective July 1 2026 to September 30 2026 rates range from 6.90% to 7.50% per annum, compounded quarterly and paid annually</cite>. This differs meaningfully from bank FDs, since <cite index=”22-1″>bank deposits are insured by the DICGC only up to ₹5 lakh per depositor per bank</cite>, whereas post office deposits have no such ceiling.
A quick note on LIC and fixed deposits: LIC itself is an insurer and does not directly offer bank-style FDs to the public. If you have seen the term “LIC fixed deposit calculator” used online, it usually refers to fixed deposit schemes from LIC Housing Finance, which is a separate NBFC entity, so always confirm which entity you are dealing with before investing.
Fixed Deposit Monthly Income Calculator: How Monthly Payouts Work
If regular income matters more to you than maximum compounding, most banks let you choose a non-cumulative FD with monthly, quarterly or half-yearly interest payouts instead of a lump sum at maturity. This is where a fixed deposit monthly interest calculator becomes useful, since monthly payout FDs typically pay a slightly discounted rate compared to the cumulative option, because interest is paid out rather than reinvested.
The SBI fixed deposit monthly income scheme calculator works the same way: you enter the principal and tenure, and instead of showing a single maturity value, it shows the fixed monthly amount you will receive throughout the tenure, with your principal returned at the end. This structure suits retirees, or anyone who wants their FD to function like a predictable monthly income stream rather than a long-term lump sum.
Post Office Fixed Deposit Calculator Returns
<cite index=”29-1″>The Post Office Time Deposit offers four fixed terms of 1, 2, 3 and 5 years, and for FY 2026-27 Q1 the rates range from 6.9% to 7.5%, compounded quarterly and paid annually</cite>. Only the 5-year Post Office FD is eligible for a Section 80C tax deduction, so if tax saving is your priority, that is the tenure to focus on.
<cite index=”22-1″>Post office fixed deposits differ from bank FDs in one important way: TDS is not deducted at source on post office time deposit interest</cite>, though the interest itself remains fully taxable and must be declared in your income tax return.
Loan Against Fixed Deposit Calculator
One advantage of an FD that many savers overlook is the ability to borrow against it without breaking the deposit. A loan against fixed deposit calculator helps you estimate how much you can borrow and at what cost.
This option is particularly useful if you need short-term liquidity but do not want to lose the higher interest rate locked into a long-tenure FD, or pay the penalty for premature withdrawal.
Premature Withdrawal: What It Costs You
Breaking an FD before maturity almost always comes with a penalty. <cite index=”13-1″>For SBI, deposits up to ₹5 lakh attract a premature withdrawal penalty of 0.50%, while deposits above ₹5 lakh attract a 1% penalty</cite>. Most other banks follow a similar structure, typically 0.5% to 1% lower than the rate applicable for the period the deposit actually remained with the bank.
Before breaking an FD, it is worth running the numbers through a fixed deposit rates calculator for both scenarios, keeping the FD versus taking a loan against it, since the loan route often works out cheaper over short periods.
Premature Withdrawal: What It Costs You
FD interest is fully taxable under “Income from Other Sources” and added to your total income, taxed at your applicable slab rate. A few points that most fixed deposit calculators online do not clearly explain:
TDS deduction: <cite index=”13-1″>Banks deduct 10% TDS once total FD interest income exceeds ₹50,000 in a year, or ₹1 lakh for senior citizens</cite>, under Section 194A of the Income Tax Act.
Avoiding TDS: <cite index=”13-1″>If your total interest income is below these thresholds, you can submit Form 15G (or Form 15H for senior citizens) to the bank requesting that TDS not be deducted</cite>.
Tax-saving FDs: 5-year tax-saving fixed deposits qualify for a deduction of up to ₹1.5 lakh under Section 80C, but the interest earned is still taxable, and premature withdrawal is not permitted on this specific FD type.
Post office FDs: No TDS is deducted, but the interest is still taxable and must be self-reported.
Since a fixed deposit interest rate calculator only shows pre-tax figures, it is worth manually adjusting the result by your income tax slab to understand your real, post-tax return, especially if you fall in the 20% or 30% bracket.
FD Calculator vs SIP Calculator: Which Suits Your Goal?
Many savers comparing a fixed deposit calculator with a mutual fund SIP calculator want to know which gives better returns. The honest answer depends entirely on your risk appetite and time horizon:
If you are weighing this decision, our SIP Calculator can help you compare a lump-sum FD investment against a monthly SIP over the same time horizon, so you see both outcomes side by side before deciding.
How to Use the Fixed Deposit Calculator: Step by Step
Because the underlying formula involves exponents and compounding periods that are easy to miscalculate by hand, using an online calculator is far more reliable than a spreadsheet, particularly when comparing multiple banks or tenures at once.
Why an Accurate FD Calculator Matters for Financial Planning
Fixed deposits often form part of a larger financial plan alongside retirement benefits, provident fund savings, and other investments. If you have recently received a lump sum, such as gratuity on resignation or retirement, our Gratuity Calculator can help you first estimate that payout, and then this Fixed Deposit Calculator shows how that amount could grow over a chosen tenure.
If your investment goal is longer term and tax-free, the PPF Calculator is worth comparing against a 5-year tax-saving FD, since PPF offers a fully tax-exempt return under the old tax regime, whereas FD interest remains taxable regardless of the scheme. For anyone weighing a large purchase or loan alongside their FD savings, our EMI Calculator can help you decide whether to break an FD early or continue an existing loan. And if compounding math interests you beyond fixed deposits, our Compound Interest Calculator lets you model growth for any principal, rate and tenure combination, not just bank FDs. Freelancers and small business owners managing invoicing alongside their savings may also find our GST Calculator useful for related compliance work.
Frequently Asked Questions
Conclusion
A fixed deposit remains one of the simplest and safest ways to grow a lump sum in India, but the actual return depends heavily on the interest rate, tenure, compounding frequency and payout option you choose, along with the tax treatment that applies once the FD matures. Rather than estimating this by hand, use the fixed deposit calculator above to instantly compare outcomes across different banks, tenures and post office schemes, so you can choose the option that genuinely fits your financial goals before you walk into a branch or open an account online.