How it works
Enter the amount you will deposit, the yearly interest rate and how long you will keep it. You can give the period in years or months.
Choose how often the interest is added to the deposit. Most Indian banks compound fixed deposit interest quarterly. The more often it compounds, the more you earn, because interest starts earning interest sooner.
The result shows the maturity amount, the interest earned and a year-by-year table. This is a cumulative deposit, where all interest is paid at maturity.
The formula
A = P × (1 + r ÷ n) ^ (n × t)
P is the deposit, r is the yearly interest rate as a decimal (7% is 0.07), n is how many times a year interest is added, and t is the time in years. The interest earned is A minus P.
A worked example
A deposit of ₹1,00,000 at 7% a year with quarterly compounding for 5 years: each quarter earns 1.75%, over 20 quarters. The maturity amount is about ₹1,41,478, of which ₹41,478 is interest.
Frequently asked questions
How often do banks compound FD interest?
Most banks compound cumulative fixed deposits every quarter, though some use other schedules. Check your deposit terms and pick the same option here.
Why does my bank show a slightly different amount?
Banks may count days rather than whole months or quarters, round differently, or use a different compounding schedule. Treat this as a close estimate.
Is the interest on a fixed deposit taxable?
Yes, it is added to your income and taxed at your slab rate. Banks may also deduct TDS once your interest from them in a year crosses a limit, which has changed over the years, so check the current limit.
What about a deposit that pays interest out each month or quarter?
This calculator is for a cumulative deposit, where the interest stays in the deposit. For a payout deposit there is no compounding, and the interest is simply the amount times the rate times the time.