FD Calculator
Estimate the maturity value and interest on a fixed deposit. Adjust the amount, rate, tenure and compounding to match your bank's FD.
Maturity value
₹1,41,478
Top FD interest rates right now
See all bank rates →#1
8.30%
Jana Small Finance Bank
#2
8.30%
Suryoday Small Finance Bank
#3
8.20%
Equitas Small Finance Bank
Rates updated as of 11 Jul 2026 · p.a. · confirm with the bank before investing.
How it's calculated
A cumulative FD compounds interest each period and pays it at maturity. The maturity value is:
M = P × (1 + i/n)n·t
where P is the principal, i is the annual interest rate (as a decimal), n is the number of compounding periods per year (4 for quarterly — the most common for Indian bank FDs), and t is the tenure in years. The "Simple" option instead uses M = P × (1 + i·t), for non-cumulative payout FDs.
FD rates — top banks
Rates updated as of 11 Jul 2026
| Bank | Rate range (p.a.) | Notes |
|---|---|---|
| Jana Small Finance Bank | 8.30% | Peak advertised rate; varies by tenure |
| Suryoday Small Finance Bank | 8.30% | Peak advertised rate; varies by tenure |
| Equitas Small Finance Bank | 8.20% | Peak advertised rate; varies by tenure |
FD tips
- Ladder your FDs across tenures so some mature each year and you keep flexibility.
- Compare cumulative vs non-cumulative based on whether you need income now or growth later.
- Factor in tax on interest — your post-tax return can be lower than the headline rate.
Frequently asked questions
How is FD maturity value calculated?
For a cumulative FD, interest is compounded each period (most Indian banks compound quarterly) and paid at maturity, using M = P × (1 + i/n)^(n·t). A non-cumulative FD instead pays interest out periodically, so it uses simple interest on the principal.
What is the difference between cumulative and non-cumulative FD?
A cumulative FD reinvests the interest so you receive a single larger amount at maturity — best for growing a lump sum. A non-cumulative FD pays interest at regular intervals (monthly, quarterly or yearly), which suits people who need a steady income.
Is FD interest taxable?
Yes. Interest earned on a fixed deposit is added to your income and taxed at your applicable slab rate. Banks may also deduct TDS when annual interest crosses the prevailing threshold — check the current limit, which can change with each Budget.
Does a higher compounding frequency give more returns?
For the same annual rate, more frequent compounding (monthly vs quarterly vs yearly) produces a slightly higher maturity value, because interest starts earning interest sooner. The difference is small but real, which is why we let you choose the frequency.
Can I break an FD before maturity?
Most FDs allow premature withdrawal, usually with a small penalty on the interest rate. The exact penalty varies by bank and product, so confirm the terms before booking if you might need the money early.
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