Calculate your FD maturity amount and interest earnings with our easy-to-use calculator. Compare rates from top banks.
On 12 months FD at 7.5% p.a.
₹100,000.00
₹7,763.26
A Fixed Deposit (FD) is a financial instrument provided by banks or NBFCs which provides investors a higher rate of interest than a regular savings account, until the given maturity date. It may or may not require the creation of a separate account.
The FD calculator uses the following formula to calculate maturity amount:
A = P (1 + r/n)nt
Where:
| Bank | 1 Year (%) | 3 Years (%) | 5 Years (%) |
|---|---|---|---|
| SBI | 6.80 | 7.00 | 6.50 |
| HDFC Bank | 7.00 | 7.25 | 7.00 |
| ICICI Bank | 7.00 | 7.20 | 7.00 |
| Axis Bank | 7.10 | 7.25 | 7.10 |
FD interest is calculated using compound interest formula: A = P(1 + r/n)^(nt), where A is maturity amount, P is principal, r is annual interest rate, n is compounding frequency per year, and t is time in years. Our calculator automatically computes this for you.
The minimum amount varies by bank. Most banks allow FDs starting from ₹1,000 to ₹5,000. Some private banks may have higher minimums around ₹10,000. Our calculator works with any amount above ₹1,000.
Yes, the interest rate is fixed when you open the FD and remains the same for the entire tenure, regardless of market fluctuations. This is one of the main advantages of fixed deposits.
Yes, but premature withdrawals usually attract a penalty of 0.5-1% on the interest rate. Some banks may offer partial withdrawals without breaking the entire FD. The exact terms depend on the bank's policy.
Yes, interest earned on FDs is taxable as per your income tax slab. Banks deduct TDS (Tax Deducted at Source) if interest exceeds ₹40,000 (₹50,000 for senior citizens) in a financial year. Tax-saving FDs have a 5-year lock-in period.