About this FD calculator
A fixed deposit is one of the safest ways to grow your money. You deposit a lump sum for a fixed tenure at a fixed interest rate, and the bank pays you the principal plus interest at maturity. The rate depends on the bank, the tenure and your age.
This calculator compounds the principal at the rate and frequency you choose and shows the maturity value and the interest earned. More frequent compounding, such as quarterly or monthly, gives a slightly higher return than annual compounding at the same nominal rate.
The result assumes the rate stays unchanged for the whole tenure and that you do not break the deposit early, which would usually reduce the rate. Interest on FDs is taxable, and tax is deducted at source above certain thresholds.
Use it to compare FD offers across banks and tenures. A longer tenure or a senior citizen rate can noticeably improve returns. Always confirm the exact rate, compounding and premature withdrawal terms with your bank before investing.