FD Calculator — fixed deposit maturity value
Calculate the maturity amount of your bank fixed deposit. Supports quarterly, half-yearly, and annual compounding.
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Year-by-year growth
About the FD Calculator
A fixed deposit is the simplest investment in India: deposit a lumpsum with a bank for a fixed tenure at a pre-agreed interest rate. No market risk, DICGC-insured up to ₹5 lakh per depositor per bank. FDs remain the single largest savings instrument in Indian households — over ₹100 lakh crore is parked in bank FDs across the country, dwarfing mutual funds, insurance, and stocks combined.
This calculator uses the standard compound interest formula: A = P(1 + r/n)^(nt). For Indian bank FDs, the compounding frequency is almost always quarterly (n = 4) — keep that as the default unless your bank specifies otherwise. Some small finance banks compound monthly (n = 12), which gives a tiny extra return. The effective annual yield on a 7.5% quarterly-compounded FD is 7.71%; monthly compounding bumps it to 7.76%.
Rates vary significantly across the Indian banking landscape: 6.5–7.5% at PSU banks (SBI, PNB, BoB, Canara), 7–8% at private banks (HDFC, ICICI, Axis, Kotak), 8–9% at small finance banks (Ujjivan, AU, Equitas, Suryoday, Jana, Capital, ESAF, Utkarsh). Senior citizens (60+) get an extra 0.25–0.50% on every category. Specific tenure buckets (e.g., 444 days, 555 days, 888 days) often have promotional rates 0.10–0.30% above the standard slab.
The biggest FD mistake retail investors make is breaking it before maturity. Premature withdrawal triggers a penalty of 0.5–1% on the contracted rate, and you receive interest only at the lower applicable rate for the actual deposit period. To avoid this, ladder your FDs: split a ₹10 lakh deposit into 5 FDs of ₹2 lakh each with maturities at 6, 12, 18, 24, and 36 months. As each matures, you have liquidity without breaking any.
FD vs alternatives in 2026: for short-term (< 3 years), FDs typically beat liquid funds on post-tax basis for taxpayers below 20% slab. For medium-term (3–7 years), debt mutual funds may edge out only marginally and bring interest rate risk. For long-term (10+ years), FDs lose decisively to equity mutual funds — but FDs remain valuable as the 'sleep-well-at-night' allocation in any balanced portfolio. Senior citizens who depend on FD interest for monthly income should also evaluate SCSS (Senior Citizens' Savings Scheme — 8.2% guaranteed) and RBI Floating Rate Bonds.