FD Calculator
🏦 Fixed Deposit (FD) Calculator
🔹 What is an FD Calculator?
A Fixed Deposit (FD) Calculator helps you calculate how much return or maturity amount you will get at the end of your FD period.
It’s a simple online tool where you just enter —
- Deposit amount
- Interest rate
- Tenure (months or years)
The calculator instantly shows your maturity amount and total interest earned.
🔹 How Does the FD Calculator Work?
The calculation depends on whether your FD is simple interest or compound interest.
For simple interest:
👉 Interest = (P × R × T) / 100
For compound interest:
👉 A = P × (1 + R/N)^(N×T)
Where:
- P = Deposit Amount
- R = Annual Interest Rate
- N = Number of compounding periods per year
- T = Time in years
- A = Maturity Amount
The FD Calculator automatically uses the compound interest formula used by banks like SBI, HDFC, ICICI, Axis Bank, and others to give accurate results.
🔹 Why Use an FD Calculator?
✅ Know your maturity amount in seconds
✅ Compare FD returns from different banks
✅ Plan short-term or long-term deposits easily
✅ Adjust tenure or amount to match your savings goals
✅ Works for regular, senior citizen, and tax-saving FDs
🔹 Example of FD Returns (Indicative)
| Bank | Interest Rate (Regular) | Senior Citizen Rate | Tenure Range | ₹1 Lakh for 5 Years – Maturity |
|---|---|---|---|---|
| SBI | 6.50% p.a. | 7.50% p.a. | 7 days – 10 yrs | ₹1,38,225 |
| HDFC Bank | 7.00% p.a. | 7.75% p.a. | 7 days – 10 yrs | ₹1,40,255 |
| ICICI Bank | 6.90% p.a. | 7.60% p.a. | 7 days – 10 yrs | ₹1,39,750 |
| Axis Bank | 7.10% p.a. | 7.85% p.a. | 7 days – 10 yrs | ₹1,40,550 |
(Rates are approximate and subject to change by banks.)
🔹 Types of Fixed Deposits You Can Calculate
- Regular FD: Standard fixed deposit for individuals.
- Tax-Saving FD: 5-year lock-in, eligible for tax deduction under Section 80C.
- Senior Citizen FD: Higher interest rates for citizens above 60 years.
- Cumulative FD: Interest added quarterly/annually and paid at maturity.
- Non-Cumulative FD: Interest paid monthly or quarterly.
🔹 How to Use FD Calculator
- Enter the deposit amount.
- Choose the tenure (in months or years).
- Enter the interest rate.
- Click Calculate — you’ll instantly get the maturity value and interest earned.
Example:
If you deposit ₹1,00,000 for 5 years at 7% interest (compounded quarterly), your maturity amount will be ₹1,40,255 — meaning ₹40,255 total interest earned.
🔹 Benefits of Using FD Calculator
- Helps you compare FD plans across banks
- Enables better financial planning
- Useful for tax-saving and investment goals
- Quick, accurate, and free tool