Calculates FD maturity the way Indian banks actually do it — quarterly compounding with simple interest on any part-quarter — with Cumulative and Non-Cumulative options, a Senior Citizen rate bump, and a TDS estimate.
Key Takeaways
- Indian banks compound FD interest quarterly, not annually or daily, and for any leftover period shorter than a full quarter, they switch to simple interest on the balance — this calculator uses that exact same two-step method.
- Cumulative and Non-Cumulative FDs serve different goals. Cumulative reinvests interest for a larger lump sum at maturity; Non-Cumulative pays interest out regularly, which suits someone who needs a periodic income stream instead of a lump sum.
- FD interest is fully taxable and often has TDS deducted upfront. Banks deduct TDS once your total interest from that bank crosses INR 40,000 in a financial year (INR 50,000 for senior citizens) — TDS isn't the final tax, your actual liability still depends on your total income and slab.
What This FD Calculator Does
This calculator projects the maturity value of an Indian bank Fixed Deposit using the same method most banks use internally: interest compounds once every quarter, and for any tenure that doesn't divide evenly into whole quarters, the leftover days are calculated as simple interest on the balance at that point — not another compounding period. It supports both major FD structures: Cumulative, where interest is reinvested and paid as one lump sum at maturity, and Non-Cumulative, where interest is paid out to you monthly, quarterly, half-yearly, or annually while your principal stays untouched until maturity. A Senior Citizen toggle adds the typical 0.5 percentage point rate bonus most banks offer, and a TDS estimate flags whether your interest is likely to cross the threshold at which the bank deducts tax at source.
Everything runs entirely in your browser. No deposit amount, rate, or tenure you enter is sent to a server, logged, or stored anywhere — close the tab and it's gone. There's no signup, no email wall, and no ads inside the calculator itself. Real bank rates, senior citizen bonuses, and TDS rules change over time and vary by bank — use this to compare scenarios and sanity-check a quote, not as a substitute for your bank's official FD receipt.
How to Use This FD Calculator
1. Cumulative FD (Default)
- Enter the Deposit Amount and Interest Rate.
- Enter the Tenure in years, months, and days.
- Read the Maturity Value and total interest.
2. Non-Cumulative (Payout) FD
- Switch to Non-Cumulative (Payout) FD.
- Choose a Payout Frequency.
- See the payout amount you'll receive each period.
3. Senior Citizen & TDS
- Tick Senior Citizen to add the rate bonus (default 0.5%).
- Tick or untick PAN provided to switch the TDS rate between 10% and 20%.
- Check the TDS box for an estimate of tax likely deducted at source.
The FD Maturity Formula, Explained
Banks calculate FD interest in two stages. For every complete quarter in the tenure, interest compounds:
Value after N quarters = P × (1 + r/400)N
For any leftover days that don't make up a full quarter, simple interest is added on top of that value instead of compounding further:
Remainder Interest = Value after N quarters × (r/100) × (remaining days / 365)
Worked example: Deposit P = INR 5,00,000, rate r = 7%, tenure = 1 year 1 month 15 days (410 days total).
- 410 days / ~91.3 days per quarter = 4 complete quarters, with about 44.75 days left over
- Value after 4 quarters = 5,00,000 × (1.0175)4 ≈ INR 5,35,930
- Remainder interest = 5,35,930 × 0.07 × (44.75/365) ≈ INR 4,599
- Maturity = 5,35,930 + 4,599 ≈ INR 5,40,529
FD Maturity Reference Table
Illustrative maturity value for a INR 1,00,000 deposit at a representative 7% p.a. across common tenures (quarterly compounding, no senior citizen bonus). Actual bank rates vary and often differ by tenure band — treat this as a reference, not a quote.
| Tenure | Maturity Value | Interest Earned |
|---|---|---|
| 1 Year | INR 1,07,186 (1.07 Lakh) | INR 7,186 |
| 2 Years | INR 1,14,888 (1.15 Lakh) | INR 14,888 |
| 3 Years | INR 1,23,144 (1.23 Lakh) | INR 23,144 |
| 5 Years | INR 1,41,478 (1.41 Lakh) | INR 41,478 |
Quick Definitions
Cumulative FD reinvests interest back into the deposit each period, so the depositor receives one lump sum — principal plus all accumulated interest — at maturity. Non-Cumulative FD pays out interest to the depositor at regular intervals (monthly, quarterly, half-yearly, or annually) instead of reinvesting it, with the original principal returned separately at maturity.
Frequently Asked Questions
Quarterly compounding has been the standard convention across Indian scheduled banks for decades and is what's reflected on the FD receipts most banks issue. Some NBFCs and corporate deposits use monthly, half-yearly, or annual compounding instead, so it's worth checking the specific scheme's terms.
Under Section 194A, banks are commonly cited as deducting TDS once your total interest from that bank crosses INR 40,000 in a financial year (INR 50,000 for senior citizens), at 10% if your PAN is on record or 20% if it isn't. These thresholds and rates are set by tax law and can change, so confirm the current figures with your bank or a tax advisor.
No. TDS is tax deducted upfront by the bank, not your final tax bill. FD interest is added to your total income and taxed at your income tax slab rate; you may owe more tax at filing time, or be eligible for a refund, depending on your overall income and deductions.
A Fixed Deposit takes one lump sum upfront and holds it for the full tenure. A Recurring Deposit (RD) takes a fixed amount every month instead, building up the principal over time, and is suited to building savings gradually rather than depositing a sum you already have in hand.
Most banks allow premature withdrawal but apply a penalty, typically reducing the effective interest rate by around 0.5 to 1 percentage point compared to what the original tenure would have earned. Penalty terms vary by bank, so check your specific FD's terms before assuming an exact figure.
No. Every calculation runs locally in your browser using JavaScript; nothing you enter is transmitted to any server, logged, or saved once you close or refresh the page.