FD Calculator — Fixed Deposit Calculator
Calculate your fixed deposit maturity amount and interest with quarterly, half-yearly, or annual compounding.
How Is FD Interest Calculated?
Fixed deposit interest is calculated using the compound interest formula: A = P × (1 + r/n)^(n×t), where P is the principal amount, r is the annual interest rate (as a decimal), n is the number of times interest is compounded per year, and t is the time in years. Most Indian banks compound FD interest quarterly (n = 4).
For example, ₹1,00,000 at 7% p.a. compounded quarterly for 3 years: A = 1,00,000 × (1 + 0.07/4)^(4×3) = ₹1,23,144. Interest earned = ₹23,144.
FD Rates by Bank Type
Small finance banks (AU, Equitas, Jana) typically offer 7.5–9% on regular FDs. Private sector banks (HDFC, ICICI, Axis) offer 6.5–8%. PSU banks (SBI, PNB, BOB) offer 6–7.5%. Senior citizens get an additional 0.25–0.50% on most FDs.
FD vs Other Investments
FDs are guaranteed, low-risk investments ideal for short-term goals (1–5 years). For long-term wealth creation, equity mutual funds have historically outperformed FDs significantly. However, FDs are suitable for capital preservation, emergency funds, and near-term financial goals where risk cannot be taken.