FD Calculator
Fixed deposits are India's default savings instrument — and for good reason: guaranteed returns, DICGC insurance up to ₹5 lakh per bank, and zero drama. This calculator uses quarterly compounding, exactly how Indian banks compute FD maturity.
Quick example: ₹5 lakh at 7% for 5 years matures to about ₹7.07 lakh. Not exciting — but guaranteed, which is precisely the point of an FD.
Four steps, thirty seconds.
Enter your deposit amount. The lumpsum you're locking in.
Set the interest rate. Check your bank's current FD rate card — senior citizens usually get +0.50%.
Choose the duration. 1–5 years is typical; longer tenures don't always pay more.
The formula (quarterly compounding): A = P × (1 + r/4)4n.
Worked example: ₹5 lakh at 7% for 5 years → ₹7.07 lakh maturity (₹2.07 lakh interest).
Quarterly compounding is the RBI-standard convention for Indian bank term deposits.
FD interest is fully taxable at your slab rate, and banks deduct 10% TDS if interest exceeds ₹40,000/year (₹50,000 for senior citizens). Submit Form 15G/15H if you're below the taxable limit.
Deposits up to ₹5 lakh per depositor per bank (principal + interest) are insured by DICGC, a wholly-owned RBI subsidiary.
Yes, but banks charge a premature-withdrawal penalty — typically 0.5–1% off the contracted rate. Sweep-in FDs linked to savings accounts offer more flexibility.
They're scheduled banks covered by the same ₹5 lakh DICGC insurance, and they often pay 0.5–1.5% more. Within the insured limit, the risk profile is similar.
Same money, different shape: FD invests once, RD monthly. At equal rates and tenure, returns are close — pick based on whether you have a lumpsum or monthly surplus.
Disclaimer: Educational illustration only — not financial advice. Uses standard quarterly compounding; premature-withdrawal penalties and TDS not included.