FD Calculator

Total interest
Deposit amount
Maturiity amount

Fixed Deposits are a preferred choice for investors who favour stability. Those looking to invest in FDs can seamlessly manage their finances by utilizing the FD Calculator. This user-friendly online tool helps calculate the returns on FD investments by considering the investment sum, interest rate, and duration.

How FD Calculator Work?

To use an FD (Fixed Deposit) calculator effectively, you need to input three key details: the amount you're depositing, the length of time you plan to keep your money in the FD, and the interest rate, which can be compounded monthly, half-yearly, or annually. The process of using this tool is straightforward. Simply input your investment amount, the duration of the investment (in months or years), and the applicable interest rate. The calculator then takes these inputs, applies the specified compounding method, and calculates the maturity amount. This final figure represents the total of your initial investment plus the interest earned over the selected period.

How can a FD Calculator help you?

Determining the maturity amount for a fixed deposit (FD) can often be complex and time-intensive. However, with an online FD calculator, you can compute these amounts effortlessly.

  • The process of calculating FD maturity involves various factors and can be intricate. A fixed deposit calculator simplifies this by providing precise calculations instantly with just a click.
  • This tool significantly reduces the time spent on these elaborate calculations.
  • An FD return calculator also allows you to compare the maturity sums and interest rates provided by different banks or financial entities. Having access to this detailed information helps you make well-informed financial decisions.

Fixed Deposit Maturity Amount Calculation

Interest on FD is compounded quarterly, in most banks. 

The formula for this is: A = P * (1+ r/n) ^ n*t 

where ,

  • I = A – P 
  • A = Maturity value 
  • P = Principal amount 
  • r = rate of interest 
  • t = Number of years 
  • n = Compounded interest frequency 
  • I = Interest earned amount

Example of FD Calculation

Let's say you invest Rs. 2,00,000 in an Indian Bank FD at 6.5% per annum for 2 years.

Using the simple interest formula:

Maturity Amount = Principal + (Principal * Rate * Tenor)

= 2,00,000 + (2,00,000 * 0.065 * 2)

= 2,00,000 + 27,527

= Rs. 2,27,527

So, the maturity amount on your Rs. 2 lakh Indian Bank FD after 2 years at 6.5% interest will be Rs. 2,27,527.

How to use ClearTax FD Calculator?

You can calculate FD returns by using ClearTax FD Calculator, the process is given below:

  • Enter the investment amount in the calculator
  • Now enter, for how many months you want to stay invested
  • Finally, fill details about the interest rate 
  • The calculator will automatically give you the result with a break of principal amount and earned returns.   

Advantages of FD Calculator

The calculator offers different benefits to investors. These advantages are as follows: 

  • Accessible: 

This calculator can simply be accessed through the official website of the bank. Investors can use this feature at any time and from any place. 

  • Efficient:

Investors can rapidly evaluate different investment situations and look at possible returns without the requirement for lengthy calculations.

  • Transparent: 

The Central Bank of India FD calculator provides investors transparency and empowers them to pursue informed choices according to their financial objectives. 

  • Accurate: 

The Central Bank of India FD calculator gives exact estimations and reduces the possibility of any possible errors associated with manual calculation.

Tax Benefits on FD

Similar to other personal tax-saving and investment instruments, Fixed Deposits schemes also attract taxes. A TDS of 10% is deducted on the returns accrued from an FD if the total interest exceeds Rs. 10,000 in a single financial year. Let’s compare this to the SIP scheme and you can see that SIPs are more beneficial for the long term. Since long-term gains from equity are tax-free, any SIP which invests in ELSS (Equity Linked Mutual Funds) is also tax-free after one year.

Bank FD Calculators
SBI FD CalculatorBOI FD CalculatorHDFC Bank FD CalculatorIDBI Bank FD Calculator
ICICI Bank FD CalculatorIDFC First Bank FD CalculatorAxis Bank FD CalculatorIndian Bank FD Calculator
PNB FD CalculatorEquity Finance Bank FD CalculatorKotak Bank FD CalculatorDHFL FD Calculator
UCO Bank FD CalculatorCentral Bank of India FD CalculatorPost Office FD CalculatorBOB FD Calculator 
RBL Bank FD CalculatorUnion Bank of India FD CalculatorYes Bank FD CalculatorIndusind Bank FD Calculator


Frequently Asked Questions

Is FD safe?

Your Fixed Deposit Account in any scheduled bank covers under Depositor Insurance and Credit Guarantee Corporation (DICGC). The DICGC, a subsidiary of the Reserve Bank of India (RBI), provides insurance coverage for deposits made by each individual depositor in each scheduled bank upto of Rs 5 lakh. 

How to calculate FD interest using formula?

The formula to calculate FD interest rates is below:

Formula: A = P * (1+ r/n) ^ n*t 

where ,

  • I = A – P 
  • A = Maturity value 
  • P = Principal amount 
  • r = rate of interest 
  • t = Number of years 
  • n = Compounded interest frequency 
  • I = Interest earned amount
How much interest rate on 10 lakh FD for 1 year?

The interest rate for a 10 lakh fixed deposit (FD) with a one-year term depends on the bank and the age of the depositor. Public sector and large private banks offer FD rates starting from 6.7% per annum, while small finance banks provide rates starting at 7% per annum for one-year FD schemes. Age also plays a role in determining the rate, with most banks offering an additional 0.5% over the regular FD rate to senior citizens.

Which FD is best?

Best Fixed Deposit (FD) is something which gives maximum return in your suitable investment term. Interest rates of Banks FD schemes depends on the tenure, age and FD scheme. 

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