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Fixed Deposit (FD) Calculator

₹
%
Yrs

Maturity Value

₹1,41,478

Total Interest Earned

₹41,478

FD Calculator — Overview

The Fixed Deposit (FD) Calculator is a simple tool that helps you calculate the maturity amount and total interest earned on your FD investment. Fixed Deposits are one of the safest investment options, offering guaranteed returns without market risks. By using this calculator, you can plan your savings better and choose the right tenure and compounding option for your goals.

It is especially useful for comparing FD schemes across different banks or NBFCs, and understanding how compounding frequency affects your total returns.

How is it calculated?

The FD maturity value depends on four inputs:


  • Principal Amount: The initial investment you make in the FD.
  • Rate of Interest: The annual interest rate offered by the bank.
  • Tenure: The duration of your FD (in months or years).
  • Compounding Frequency: Monthly, quarterly, half-yearly, or yearly compounding.

The calculator uses the compound interest formula to give you the final maturity amount and the total interest earned.

Frequently Asked Questions

In a cumulative FD, the interest is reinvested and paid out in a lump sum at maturity, which is ideal for long-term goals. In a non-cumulative FD, interest is paid out at regular intervals (monthly, quarterly, etc.), providing a regular income stream.

Yes, the interest earned on an FD is fully taxable as per your income tax slab. It is added to your 'Income from Other Sources'. Banks are also required to deduct TDS (Tax Deducted at Source) if the interest income exceeds ₹40,000 in a financial year (₹50,000 for senior citizens).

If your total annual income is below the taxable limit, you can submit Form 15G (for individuals below 60) or Form 15H (for senior citizens) to the bank at the beginning of the financial year, requesting them not to deduct TDS.

Yes, most banks allow premature withdrawal of FDs, but it usually comes with a penalty in the form of a reduced interest rate. Some banks also offer special 'flexi-FDs' that allow partial withdrawals without breaking the entire deposit.

FDs offer higher interest rates compared to savings accounts and come with fixed tenure. Savings account interest is flexible but usually lower. Many investors use FDs to park their surplus funds for better returns.

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