Work out your fixed deposit maturity and interest, or the deposit you need to reach a target. Quarterly compounding by default, the way Indian banks do it.
How much do I need to deposit to get ₹5 lakh?
Switch the mode at the top to solve for the deposit. At 7% compounded quarterly over 5 years, ₹3,53,500 matures to ₹5,00,124. The deposit is rounded up to a whole hundred on purpose, so the answer always clears the target rather than landing a few rupees short.
Why quarterly compounding?
It is the standard across Indian banks for a cumulative FD. Interest is added to your balance every three months and then earns interest itself. Switch the frequency in the form if your bank does something else.
What is the effective yearly rate?
It is the yearly rate that would give the same maturity amount without any compounding within the year. A 7% rate compounded quarterly has an effective rate of 7.19%. Use it to compare two banks that compound differently.
What is the difference between a cumulative and a payout FD?
A cumulative FD keeps the interest inside and compounds it, which is what this calculator shows. A payout FD sends the interest to your account every month or quarter, so nothing compounds and the total is lower.
How is FD interest taxed?
It is added to your income and taxed at your slab rate, in the year the interest accrues. The bank deducts TDS once the interest crosses the yearly threshold. Senior citizens get a higher threshold and an extra deduction.
What happens if I break the FD early?
The bank pays the rate that applied to the period you actually stayed, and usually charges a penalty of about 0.5% to 1% on top. Breaking a 5 year FD after 1 year can leave you with less than a 1 year FD would have paid.
Do senior citizens get a higher rate?
Yes. Most banks add 0.25% to 0.75% for depositors over 60. Enter the higher rate in the form and the maturity amount updates.
Is my FD safe?
Deposits with a scheduled bank are insured by DICGC up to ₹5,00,000 per depositor per bank, covering principal and interest together. Split larger amounts across banks if that matters to you.