What is a FD Calculator?
A FD Calculator is a free online tool that helps you calculate fixed deposit maturity amount and interest earned for any bank with quarterly, monthly or annual compounding. FinCalc Pro offers India's most accurate FD Calculator with instant results, detailed charts, and step-by-step breakdowns — completely free with no login required.
FD Calculator Formula
M = Maturity Amount | P = Principal | r = Annual interest rate | n = Compounding frequency | t = Tenure in years
How to Use FD Calculator
- Enter your FD principal amount
- Enter the annual interest rate offered by your bank
- Select compounding frequency (quarterly is standard for most banks)
- Enter FD tenure in years and months
- Click Calculate to see maturity amount and total interest
FD Calculator — Example
Principal: ₹5,00,000 | Rate: 7% | Quarterly compounding | 3 years → Maturity: ₹6,16,450 | Interest: ₹1,16,450
Benefits of Using FD Calculator
- Compare FD rates across different banks
- Plan tax-saving FD (5-year lock-in) under 80C
- See effective yield after TDS deduction
- Senior citizen FD offers 0.25–0.5% higher rates
Frequently Asked Questions — FD Calculator
How is FD interest calculated?
Most banks use quarterly compounding: M = P × (1 + r/4)^(4×t). For example, ₹1 lakh at 7% for 1 year with quarterly compounding gives ₹1,07,186.
Is TDS deducted on FD interest?
Yes, TDS at 10% is deducted if FD interest exceeds ₹40,000 per year (₹50,000 for senior citizens). Submit Form 15G/15H to avoid TDS if your income is below taxable limit.
Which bank offers the best FD interest rates?
Small finance banks like Unity, Suryoday, ESAF offer 8–9% FD rates. Among large banks, rates range from 6.5–7.5%. Senior citizens get 0.25–0.5% extra. Always check FDIC/DICGC insurance limit (₹5 lakh).
Can I break FD before maturity?
Yes, but premature withdrawal attracts a penalty of 0.5–1% on the applicable rate. It is better to take a loan against FD instead of breaking it prematurely.