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About the FD Calculator
A fixed deposit pays a contracted rate for a fixed term, compounded quarterly at almost every Indian bank. It is the safest place to keep money — deposits up to ₹5 lakh per bank are insured by the DICGC — and the least tax efficient, because interest is taxed at your full slab rate as it accrues.
That tax treatment is the number that matters. A 7.1% FD in the 30% bracket returns about 4.9% after tax, which is close to inflation. This calculator shows both the headline and the post-tax figure.
The formula
Quarterly compounding is the default across Indian banks and is what the standard advertised maturity assumes.
Things worth knowing
Frequently asked questions
Maturity = P × (1 + r/f)^(f×n), with f = 4 for the quarterly compounding that Indian banks use as standard. Interest is added to the principal each quarter and earns interest thereafter.
Yes, fully, at your income tax slab rate, and on an accrual basis each year rather than only at maturity. TDS at 10% applies above ₹50,000 of interest a year, or ₹1 lakh for senior citizens.
Banks pay the rate applicable for the period the deposit actually ran, minus a penalty of typically 0.5–1%. You do not lose the principal, only some interest.
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