How to use the FD calculator
- Enter the deposit amount.
- Enter the bank’s yearly interest rate.
- Enter the tenure in years, months and days.
- Leave compounding on quarterly – that is what most Indian banks use for cumulative FDs – or change it to match your bank.
FD formula
A = P\left(1 + \dfrac{r}{n}\right)^{n t}A– maturity amount,P– deposit,r– yearly rate as a decimaln– compounding periods a year (4 for quarterly),t– tenure in years
A = 100000 \times \left(1 + \tfrac{0.07}{4}\right)^{20} = 1{,}41{,}478- Interest earned: ₹41,478
₹1 lakh FD: maturity by rate and tenure
| Tenure | 6% | 7% | 7.5% | 8% |
|---|---|---|---|---|
| 1 year | ₹1,06,136 | ₹1,07,186 | ₹1,07,714 | ₹1,08,243 |
| 2 years | ₹1,12,649 | ₹1,14,888 | ₹1,16,022 | ₹1,17,166 |
| 3 years | ₹1,19,562 | ₹1,23,144 | ₹1,24,972 | ₹1,26,824 |
| 5 years | ₹1,34,686 | ₹1,41,478 | ₹1,44,995 | ₹1,48,595 |
| 10 years | ₹1,81,402 | ₹2,00,160 | ₹2,10,235 | ₹2,20,804 |
Compounded quarterly. Post office 5-year time deposits pay 7.5% (October–December 2026).
Depositing every month instead? Use the RD calculator. For tax-free long-term savings see the PPF calculator.
Frequently asked questions
How is FD interest calculated?
Most banks compound interest every quarter on a cumulative FD: maturity = P × (1 + r/4)^(4 × years). Deposits shorter than 6 months earn simple interest.
What is the maturity amount of ₹1 lakh for 5 years at 7%?
About ₹1,41,478 with quarterly compounding – ₹41,478 in interest.
What is the difference between cumulative and payout FDs?
A cumulative FD adds interest to the deposit and pays everything at maturity, so interest earns interest. A payout FD pays interest monthly or quarterly instead, so the deposit does not grow.
Is FD interest taxable?
Yes, it is added to your income and taxed at your slab rate. Banks deduct TDS when yearly interest crosses the limit; you can submit Form 15G/15H if your income is below the taxable limit.
Do senior citizens get a higher FD rate?
Usually about 0.25–0.5% more. Enter the senior citizen rate in the calculator to see the difference.