See what your fixed deposit could pay
Compare interest paid out with interest added to your deposit.
How the deposit grows
How we calculate this
Added to the deposit: maturity = deposit × (1 + rate ÷ m)^(m × years), m = 12, 4 or 1 Simple interest: maturity = deposit × (1 + rate × years) Paid out: each payout = deposit × rate × (months in the step ÷ 12); deposit back at the end Effective yearly yield = (1 + rate ÷ m)^m − 1
Calculation version 0.3 · Whole compounding or payout periods only. TDS isn't the same as your final tax, and banks may use their own day counts for broken periods.
Related: Where to keep an emergency fund · One-time investment · Save up for a purchase
How to read your FD result
An FD (fixed deposit) is money you leave with a bank for a fixed period at a fixed rate. This calculator shows the interest it could earn before tax. It also shows how the result changes when interest stays in the deposit or is paid out to you.
What the numbers mean
You deposit is the amount you put in at the start.
Interest earned is what the deposit adds on top, before any tax. When interest stays in the deposit, a small line shows the effective yearly rate. That is the rate you actually earn in a year once interest also earns interest. It is a little higher than the quoted rate, and more frequent adding pushes it higher.
At maturity is what the bank pays back on the last day. In the “Added to the deposit” and “Simple interest” modes, this is your deposit plus all the interest. In “Paid out to me” mode, it is just your deposit back, because you already received the interest along the way. In that mode the page shows Total you receive: all the payouts plus the deposit.
The table below follows the deposit step by step. It shows the interest added and the new balance, or, in payout mode, each interest payment.
Worked example
The page opens with a fictional deposit of ₹1,00,000 for 24 months at 7% a year, with interest added every quarter. The 7% is only a sample rate, not any bank’s offer.
| Result | Value |
|---|---|
| You deposit | ₹1,00,000 |
| Interest earned | ₹14,888 (effective 7.19% a year) |
| At maturity | ₹1,14,888 |
The first quarter adds ₹1,750. The last quarter adds ₹1,976, because by then interest is earned on a bigger balance.
Change only the way interest is handled, and the same deposit gives different results:
| Option | Interest | You get in total |
|---|---|---|
| Added every month | ₹14,981 | ₹1,14,981 |
| Added every quarter | ₹14,888 | ₹1,14,888 |
| Added every year | ₹14,490 | ₹1,14,490 |
| Paid out every year (₹7,000 twice) | ₹14,000 | ₹1,14,000 |
| Simple interest | ₹14,000 | ₹1,14,000 |
Payouts give you less in total, but you get money while the FD runs. The gap is the interest your interest would have earned.
What this tool doesn’t do
It shows interest before tax. Your bank may cut TDS (tax deducted at source) from FD interest. TDS isn’t your final tax. It counts towards the tax you owe when you file your return, and the final amount depends on your total income. The tool doesn’t work out either one.
It only takes periods that fit whole steps: for quarterly interest, a multiple of 3 months. Banks may count days their own way for part periods, and they may round each payment differently. The tool doesn’t cover breaking an FD early or any penalty for it. Post Office deposits follow their own rules and aren’t covered either. It doesn’t show bank rates or rank banks. Type in the rate your bank quotes you, and check the final figure on your deposit receipt.
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Frequently asked questions
How is FD interest calculated?
In a cumulative FD (fixed deposit), interest is added to the deposit at set steps, for example every quarter. After that, the added interest earns interest too. In our fictional example, ₹1,00,000 at 7% a year for 24 months, added quarterly, earns ₹14,888. That works out to an effective 7.19% a year. With simple interest, the same deposit earns ₹14,000. Use the rate your bank quotes you.
Cumulative or payout FD: which pays more?
A cumulative FD pays more in total, because the interest stays in and keeps earning. A payout FD (non-cumulative) sends you interest at set steps, such as every month or year, and gives your deposit back at the end. In our example, quarterly compounding gives ₹14,888 of interest. Yearly payouts give ₹14,000 (₹7,000 twice). Choose payouts if you need the income while the FD runs.
Is the FD interest shown before or after tax? What is TDS?
The calculator shows interest before tax. Your bank may cut TDS (tax deducted at source) from the interest and send it to the government. TDS isn't the final tax. It counts towards your tax when you file your return, and what you finally owe depends on your total income. Ask your bank which rules it applies, or check incometax.gov.in.
Why is my bank's maturity amount different from the calculator?
Banks may count days their own way and round each interest payment differently. Your exact period may also carry a different rate. And if TDS is cut, the money you receive will be lower. The calculator handles only whole steps, like full quarters, so it doesn't copy any one bank's method. Check the maturity amount printed on your FD receipt or in your bank app.
Is my fixed deposit safe? How much does DICGC cover?
Bank deposits are insured by DICGC (the body that protects bank deposits) up to ₹5 lakh per depositor per bank. This includes small finance banks, payments banks, regional rural banks and cooperative banks. Your savings, FDs and RDs in one bank are added together for the limit. NBFC deposits are not covered. See Starting an emergency fund.