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FD Calculator


Interest is calculated in Indian Rupees on a monthly compounding basis.

Fixed Deposit Return Amount

` 0

is your principal amount

` 0

is your maturity amount

` 0

is your interest amount

What is a FD Calculator?

FD Calculator calculates the maturity value and the interest income you can earn for varied fixed deposit amounts and tenures. Paisabazaar’s online Fixed Deposit calculator takes into account the principal amount, the applicable FD interest rates and the tenure to calculate the maturity and interest amounts.

How to Use FD Calculator?

To use the Fixed Deposit calculator available here, at, follow the steps stated below:

  • Enter the deposit amount in the first field (Fixed Deposit Amount)
  • Enter the interest rate in the next field (Rate of Interest)
  • Enter the tenure duration (the period for which you want FD to be active)

Note: You can choose to enter FD duration in months or years.

  • Hit the “Calculate” button. The estimated maturity amount will be displayed in the table below the FD Calculator tool. You can also check the total interest in the column next to the maturity amount.

Note: The FD maturity value would depend on the deposit amount, FD rates, tenure and type of FD chosen, i.e. cumulative FD and non-cumulative FD.

Under non-cumulative FD, lenders usually offer a quarterly interest pay-out option for all tenures wherein the interest is credited quarterly to the current/savings account of the depositor. Depending on the lenders, depositors can also opt for monthly, half-yearly and annual interest pay-out options various FD tenures. In the case of the cumulative FD option, the interest component remains invested till the FD maturity.

Monthly interest plans are ideal for retired individuals or for depositors who need a fixed monthly income to meet their daily expenses. The reinvestment or cumulative investment option would help the depositor benefit from the power of compounding, as the interest component remains invested in the FD and starts generating interest income on its own.

Why should you use FD calculator?

Using a fixed deposit calculator can benefit depositors in the following ways:

  • Easy to use: Using an Fixed Deposit calculator is a lot easier than using a mathematical formula to calculate FD maturity amount. Depositors need to enter just a few basic details such as the deposit amount, deposit tenure and compounding frequency (quarterly, half-yearly and annual compounding) in the calculator to get results.
  • Know the maturity amount: Before investing in an FD scheme, prospective depositors should know the expected amount in advance so as to determine whether the investment scheme will serve their investment goals at maturity or not.
  • Accurate calculation: Calculating FD maturity amount manually may not give you accurate results. Using an online Fixed Deposit interest calculator saves depositors from complex calculations and eliminates the risk of error caused due to miscalculations.
  • Make comparisons for FD selection: FD interest rates vary across banks and NBFCs/HFCs. Using a fixed deposit calculator can help depositors calculate and compare maturity amounts and interest income after considering FD features like tenure, interest rate, payout option and compounding frequency (quarterly, half-yearly, annual compounding) offered by various banks and NBFCs/HFCs. This would further help depositors choose the optimum FD scheme after considering the above-mentioned FD schemes.

FD Interest Rates for 2023

(Applicable to domestic deposits of up to Rs. 2 crore)

Bank Name Interest Rates (p.a.)
Highest slab (%) 1-year tenure (%) 3-year tenure (%) 5-year tenure (%)
Suryoday Small Finance Bank 9.10 6.85 7.25 9.10
Unity Small Finance Bank 9.00 7.35 8.10 7.65
Fincare Small Finance Bank 8.51 7.50 8.00 8.00
Equitas Small Finance Bank 8.50 8.20 8.00 7.25
ESAF Small Finance Bank 8.50 6.00 6.75 6.25
Jana Small Finance Bank 8.50 7.25 7.35 6.00
Ujjivan Small Finance Bank 8.25 8.25 7.20 7.20
Utkarsh Small Finance Bank 8.25 7.75 8.25 7.50
Shivalik Small Finance Bank Limited 8.00 7.50 8.00 7.00
Bandhan Bank 8.00 7.25 7.25 5.85
DCB Bank 8.00 7.25 8.00 7.75
Tamilnad Mercantile Bank 8.00 7.25 6.50 6.50
AU Small Finance Bank 8.00 6.75 8.00 7.20
SBM Bank 7.80 7.05 7.65 7.65
RBL Bank 7.80 7.00 7.10 7.10
Yes Bank 7.75 7.50 7.00 7.00
IDFC First Bank 7.75 6.75 7.75 7.00
IndusInd Bank 7.75 7.50 7.75 7.25
City Union Bank 7.75 6.75 7.25 6.90
Capital Small Finance Bank Limited 7.60 7.15 7.15 7.10

Interest rates as of 5th June 2023

How is FD Interest Calculated?

There are two methods of calculation of interest on a fixed deposit, viz. Simple Interest and Compound Interest.

What is Simple Interest?

Simple interest is the interest earned on an investment at a pre-decided rate of interest for a specific period of time. It is calculated by multiplying the principal amount, the rate of interest per annum and the time for which the money is lent in years.

Simple Interest Formula:

SI = P x R x T/ 100


SI = Simple Interest

P = Principal (amount invested)

R = Rate of Interest (in %)

T = Tenure (time for which deposit is kept in FD account)

For example, if a sum of Rs 10,000 is invested for 3 years at 10% p.a. then at the time of maturity,

SI = 10,000*10*3/100 = Rs 3,000

Maturity Amount = Rs 13,000

What is Compound Interest?

Compound interest is the interest earned on principal as well as interests. It is calculated by multiplying the principal amount with the interest rate raised to the number of periods in years for which the interest will be compounded.

Formula for Compound Interest:

A = P (1+r/n) ^ (n * t)


A = Maturity Amount

P = Principal amount

r = Rate of Interest (in decimals)

n = number of compounding in a year

t = number of years

For example, if a sum of Rs 10,000 is invested for 3 years at 10% compound interest rate (quarterly compounding), then at the time of maturity,

A= 10,000 {1 + (0.1/4)} ^ (4 * 3)

A = 10,000 (1 + 0.025) ^ (12)

A = 10,000 (1.025) ^ (12) = Rs. 13,449 (approximately)

Compound Interest (CI) Earned over 3 years = Maturity Amount – Principal Amount

CI = 13,449 – 10,000 = Rs. 3,449


How is the interest on a bank FD calculated?

Usually, the interest for FD with a period of 6 months or less is calculated at simple interest. Compounding of interest is done for FDs with a term period of more than 6 months. When going for monthly interest payout, banks mostly calculate interest on discounted rates.

What are the details required to use an Fixed Deposit Calculator?

Deposit amount, tenure of the deposit as well as the prevailing FD rates are required to use an Fixed Deposit calculator.

Is it free to use the FD calculator at

Yes. The FD calculator available at is free to be used anytime.

Is the maturity amount calculated by the tool an exact figure or an approximate one?

The figures provided by the FD interest calculator are the closest estimate. This is because the rates may change at the time of actual purchase (e.g. in case of premature withdrawal). Thus, the figures are for reference purpose only, providing the best estimate.

What is the minimum tenure in a bank for which one can invest in a fixed deposit?

Customers can deposit for a minimum of 7 days in a fixed deposit. However, this figure may be higher for some banks.

Is the interest earned on a fixed deposit taxable?

Yes. The interest earned on an FD is taxable. However, as per the Section 80C of the Income Tax Act, 1961, investors can claim deductions for up to Rs. 1.5 lakh per financial year.

What is the FD interest rate for senior citizens for fixed deposits?

Most of the banks provide senior citizens with preferential FD rates (e.g. 0.50% extra). For banks like Axis Bank, preferential interest rates are awarded at different proportions for select tenure.

Suggested Read: FD Interest Rates for Senior Citizens in India

Does the fixed deposit interest rates calculator available at Paisabazaar give the same results for FD schemes as tools like SBI Fixed Deposit Calculator and HDFC Calculator does?

Yes. The fixed deposit is calculated using the same formula (simple interest or compound interest) across all the FD interest rate calculators. Therefore, be it SBI or HDFC FD calculator, the maturity amount shall be the same, provided the deposit amount, tenure and the interest rate are the same.

Is it compulsory to provide PAN card for opening a fixed deposit?

Yes. It is mandatory to produce the PAN card when applying for any FD scheme.

Is there a different Fixed Deposit calculator for senior citizens and tax saving FD schemes?

No, there is no separate fixed deposit calculator for senior citizens or tax saving FD schemes. The tool requires only the deposit amount, tenure and the fixed deposit interest rates to calculate the maturity amount.