Fixed Deposit Calculator
Calculate your FD maturity amount with year-wise growth breakdown.
About the Fixed Deposit Calculator
The Fixed Deposit (FD) Calculator computes maturity amount and interest earned for bank FDs. FDs are low-risk, guaranteed-return instruments backed by the bank, making them one of the safest investment options available.
How to Use
- Select your preferred currency from the dropdown.
- Drag sliders or type principal, rate, and tenure.
- Choose compounding frequency.
- Click Calculate — results update live.
Formula Used
P = Principal, r = annual rate, t = tenure in years, n = compounding frequency.
Frequently Asked Questions
How does compounding frequency change my FD return?
More frequent compounding (daily > monthly > quarterly > annually) produces a slightly higher effective yield. The difference is small at low rates but meaningful over long tenures — e.g. at 7% for 10 years, daily vs annual compounding adds ~2% extra return.
Are fixed deposits safe?
FDs and term deposits are among the safest investments because they're backed by deposit insurance schemes that exist in most countries — typically up to $250,000 in the US (FDIC), £85,000 in the UK (FSCS), €100,000 in the EU, ₹500,000 in India (DICGC), or A$250,000 in Australia (FCS). Spread balances across banks if you're above the limit.
Can I withdraw before maturity?
Yes, but most banks charge a premature-withdrawal penalty (commonly 0.5–1% lower interest rate) and you may forfeit recently-credited interest. Check your bank's specific terms before locking funds.
How is FD interest taxed?
In most countries, FD interest is taxed as ordinary income at your marginal tax rate. Some jurisdictions deduct tax at source (TDS in India, withholding tax in the US) above certain thresholds. Tax-advantaged accounts (ISA in UK, Roth IRA in US, ELSS in India) can shelter interest income.
Important Note
FD interest is generally taxable as ordinary income. Many countries deduct tax at source above a threshold — check your local rules. Tax-advantaged accounts (ISA, Roth IRA, ELSS, etc.) can shelter interest income from tax.