Quick Work Studio logo Quick Work Studio

Calculators

FD Calculator

Find the maturity amount and interest on a fixed deposit, with quarterly, monthly, half-yearly or yearly compounding.

How FD interest grows

Most Indian banks add interest to a fixed deposit every quarter. That interest then earns interest too, so the effective yearly return is a little above the quoted rate. At 7% compounded quarterly, the effective yield is 7.19%.

What you can do with the FD Calculator

Cumulative or payout

A cumulative FD adds the interest to the deposit and pays everything at maturity. A payout FD sends the interest to your account every month or quarter, so it does not compound. Choose "Paid out" to see that case.

Tax on FD interest

FD interest is added to your income and taxed at your slab rate. Banks deduct TDS once interest crosses the yearly limit. If your income is below the taxable limit, you can submit Form 15G (or 15H if you are a senior citizen) to stop TDS.

Related tools

Frequently Asked Questions

What will ₹1 lakh become in 2 years at 7%?

₹1,14,888 with quarterly compounding, so ₹14,888 of interest.

Do senior citizens get more?

Most banks pay senior citizens about 0.25% to 0.50% more. Add that to the rate to see the difference.

Is FD interest compounded monthly or quarterly?

Usually quarterly for cumulative FDs in India. Some banks and small finance banks compound monthly. The calculator lets you pick.

What will ₹1 lakh become in 5 years at 7%?

₹1,41,478 with quarterly compounding, so ₹41,478 of interest.

How much monthly interest will ₹5 lakh give at 7%?

About ₹2,917 a month on a payout FD (₹5,00,000 × 7% ÷ 12). Banks pay slightly less for monthly payouts because they discount it.

What is the effective yield of an FD?

The real yearly return after compounding. At 7% compounded quarterly it is 7.19%, because each quarter's interest also earns interest.

What happens if I break an FD early?

Most banks pay the rate for the period the money actually stayed, minus a penalty of about 0.5% to 1%. Some tax-saving FDs can't be broken for 5 years.

Is a 5-year tax-saving FD worth it?

It gives an 80C deduction of up to ₹1.5 lakh in the old regime, but the interest is taxable and the money is locked for 5 years. In the new regime there is no tax benefit.

Is FD money safe?

Deposits in a bank are insured by DICGC up to ₹5 lakh per depositor per bank, including interest.

Does this include TDS?

No. It shows the full interest. If TDS is deducted, you get credit for it when you file your tax return.

Related tools

One studio. 107 tools.
Zero installs.

Browse by category
All tools
Guides & articles
CalculatorsHow Much Electricity Do Your AC, Geyser and Fans Really Use?Turn the watts on an appliance label into units and rupees, see which appliances actually drive your bill, and find the easy savings. CalculatorsWhich Pack Is Really Cheaper? How to Compare Unit PricesBigger packs aren't always better value. A simple way to compare price per kg, per litre or per piece, plus the shopping traps to watch for. CalculatorsHow to Calculate Your Exact Age "As On" a Date for Exam FormsRecruitment notices ask for your age as on a cut-off date. Here's how to count it correctly in years, months and days, and the cases that trip people up. Text ToolsHow Many Words Is That? Word and Character Limits ExplainedHow many words fit on a page, how long a speech takes, and the character limits for posts, meta descriptions and SMS, with tips for cutting to fit. CalculatorsSIP vs Lumpsum: Which Builds More Wealth?How monthly SIPs and one-time lumpsum investing really compare, when each one wins, and why most people should not agonise over the choice. CalculatorsUnderstanding Your Salary: CTC, Gross and In-HandWhy your offer letter number is bigger than what lands in your account, what CTC really includes, and how to compare job offers fairly.

All articles →

All 107 tools

Every tool on Quick Work Studio, free and in your browser. Prefer reading first? See the guides or full directory.

Calculators 41

Converters 17

Text Tools 21

Generators 13

Image Tools 8

Productivity 7

Quick Work Studio