some error please try after some time

FD Calculator


Interest is calculated in Indian Rupees on a monthly compounding basis.

Fixed Deposit Return Amount

` 0

is your principal amount

` 0

is your maturity amount

` 0

is your interest amount

What is a Fixed Deposit Calculator?

FD Calculator calculates the maturity value and the interest income you can earn for varied fixed deposit amounts and tenures. Paisabazaar’s online FD calculator takes into account the principal amount, the applicable FD interest rates and the tenure to calculate the maturity and interest amounts.

How to Use FD Calculator?

To use the Fixed Deposit calculator available here, at, follow the steps stated below:

  • Enter the deposit amount in the first field (Fixed Deposit Amount)
  • Enter the interest rate in the next field (Rate of Interest)
  • Enter the tenure duration (the period for which you want FD to be active)

Note: You can choose to enter FD duration in months or years.

  • Hit the “Calculate” button. The estimated maturity amount will be displayed in the table below the FD Calculator tool. You can also check the total interest in the column next to the maturity amount.

Note: The FD maturity value would depend on the deposit amount, FD rates, tenure and type of FD chosen, i.e. cumulative FD and non-cumulative FD.

Under non-cumulative FD, lenders usually offer a quarterly interest pay-out option for all tenures wherein the interest is credited quarterly to the current/savings account of the depositor. Depending on the lenders, depositors can also opt for monthly, half-yearly and annual interest pay-out options various FD tenures. In the case of the cumulative FD option, the interest component remains invested till the FD maturity.

Monthly interest plans are ideal for retired individuals or for depositors who need a fixed monthly income to meet their daily expenses. The reinvestment or cumulative investment option would help the depositor benefit from the power of compounding, as the interest component remains invested in the FD and starts generating interest income on its own.

Why should you use FD calculator?

Just like any other financial decision, investing in an FD also entails ticking one’s budget and make it work in unison with the individual’s financial goals.

Fixed deposit is all about minimizing risks and guaranteed returns. If you invest in the market (like equity mutual funds), there remains a considerable risk. Your FD investment can help absorb losses, if any, to a certain limit. For this, you should know how much to put into your FD account. And this can be easily estimated using the FD Calculator by

FD interest rates calculator also helps in comparing the various types of FD schemes offered by banks and other financial companies. One can comprehend which scheme provides the best returns at the desired tenure.

FD Calculator – Benefits

Some of the prime merits of using the FD Calculator present at are listed here:

  • No scope of errors since it’s an automatic calculator
  • Zeroing-in of cumbersome calculations at multiple tenure, amount and rates thus saving time and effort
  • The tool is free of cost thus customers can use it multiple times and compare returns for different combinations of FD rates, tenure and amount

FD Interest Rates for 2023

(Applicable to domestic deposits of up to Rs. 2 crore)

Bank Name Interest Rates (p.a.)
Highest slab (%) 1-year tenure (%) 3-year tenure (%) 5-year tenure (%)
Suryoday Small Finance Bank 8.51 7.00 7.25 6.75
Unity Small Finance Bank 8.50 7.35 7.65 7.65
Equitas Small Finance Bank 8.00 7.50 7.75 7.00
ESAF Small Finance Bank 8.00 5.50 5.75 5.25
Fincare Small Finance Bank 8.00 7.25 7.00 7.00
Ujjivan Small Finance Bank 8.00 6.50 7.20 7.20
Utkarsh Small Finance Bank 8.00 7.50 7.50 7.50
SBM Bank 7.75 6.75 7.00 7.75
AU Small Finance Bank 7.75 6.10 7.75 7.20
North East Small Finance Bank 7.75 5.25 7.00 6.50
Jana Small Finance Bank 7.85 7.25 7.85
DCB Bank 7.85 7.25 7.85 7.60
Yes Bank 7.75 7.00 7.00 7.00
RBL Bank 7.55 7.00 7.00 7.00
Shivalik Small Finance Bank Limited 7.50 6.75 7.50 7.00
Capital Small Finance Bank Limited 7.50 7.10 7.10 7.10
Bandhan Bank 7.50 7.25 7.25 5.85
CSB Bank 7.50 5.00 5.75 5.75
IDFC First Bank 7.50 6.75 7.50 7.00
Union Bank of India 7.30 6.30 7.30 6.70
DBS Bank 7.25 6.25 6.50 6.50
Federal Bank 7.25 6.60 6.50 6.30
Karur Vysya Bank 7.25 6.50 7.00 6.25
Bank of India 7.05 6.00 6.50 6.00

Interest rates as of 20 January 2023

Monthly Interest for 1 Lakh Fixed Deposit

FD Amount Interest Rates (p.a.) Monthly Interest
Rs 1 lakh 2.50% Rs 208.33
Rs 1 lakh 3.00% Rs 250.00
Rs 1 lakh 3.50% Rs 291.66
Rs 1 lakh 4.00% Rs 333.33
Rs 1 lakh 4.50% Rs 375.00
Rs 1 lakh 5.00% Rs 416.66
Rs 1 lakh 5.50% Rs 458.33
Rs 1 lakh 6.00% Rs 500.00
Rs 1 lakh 6.50% Rs 541.66
Rs 1 lakh 7.00% Rs 583.33
Rs 1 lakh 7.50% Rs 625.00
Rs 1 lakh 8.00% Rs 666.66
Rs 1 lakh 8.50% Rs 708.33

How is FD Interest Calculated?

There are two methods of calculation of interest on a fixed deposit, viz. Simple Interest and Compound Interest.

What is Simple Interest?

Simple interest is the interest earned on an investment at a pre-decided rate of interest for a specific period of time. It is calculated by multiplying the principal amount, the rate of interest per annum and the time for which the money is lent in years.

Simple Interest Formula:

SI = P x R x T/ 100


SI = Simple Interest

P = Principal (amount invested)

R = Rate of Interest (in %)

T = Tenure (time for which deposit is kept in FD account)

For example, if a sum of Rs 10,000 is invested for 3 years at 10% p.a. then at the time of maturity,

SI = 10,000*10*3/100 = Rs 3,000

Maturity Amount = Rs 13,000

What is Compound Interest?

Compound interest is the interest earned on principal as well as interests. It is calculated by multiplying the principal amount with the interest rate raised to the number of periods in years for which the interest will be compounded.

Formula for Compound Interest:

A = P (1+r/n) ^ (n * t)


A = Maturity Amount

P = Principal amount

r = Rate of Interest (in decimals)

n = number of compounding in a year

t = number of years

For example, if a sum of Rs 10,000 is invested for 3 years at 10% compound interest rate (quarterly compounding), then at the time of maturity,

A= 10,000 {1 + (0.1/4)} ^ (4 * 3)

A = 10,000 (1 + 0.025) ^ (12)

A = 10,000 (1.025) ^ (12) = Rs. 13,449 (approximately)

Compound Interest (CI) Earned over 3 years = Maturity Amount – Principal Amount

CI = 13,449 – 10,000 = Rs. 3,449

Factors Affecting Fixed Deposit Interest Rates

Banks and other financial institutions providing fixed deposit as an investment option to customer take the following points in consideration while deciding on the FD interest rates:

  • Tenure or Period of Deposit

Tenure or the period of deposit is the period of time for which the deposit amount stays invested in the fixed deposit. This period varies from bank to bank and usually ranges from 7 days to 10 years. Varying terms fetch varying fixed deposit interest rates.

  • Age of the Applicant

A fixed deposit provides (banks and other financial institutions) offer preferential interest rates to senior citizens that may range anywhere from 0.25% to 0.75% over the regular rate of interest for customers. For some banks, the age limit is 60 years and above while some banks encompass investors with 55 years and above in the senior citizen category.

Suggested Read: FD Interest Rates for Senior Citizens in India

  • Current Economic Conditions

Banks and other financial institutions providing fixed deposits keep on correcting their interest rates as per the changes prevailing in the economy including change in repo rate by the Reserve Bank of India (RBI) and inflation. Thus, it is safe to say that prevailing economic conditions carry the potential to impact rates of interest for fixed deposits.

FD Calculator – FAQs

What is an FD Calculator?

An FD calculator is a tool that calculates how much one shall get on investing in a fixed deposit (FD) at the time of maturity. This tool uses inputs like the deposit amount, tenure of the FD and the prevailing fixed deposit rate for the said tenure.

How is the interest on a bank FD calculated?

Usually, the interest for FD with a period of 6 months or less is calculated at simple interest. Compounding of interest is done for FDs with a term period of more than 6 months. When going for monthly interest payout, banks mostly calculate interest on discounted rates.

What are the details required to use an FD Calculator?

Deposit amount, tenure of the deposit as well as the prevailing FD rates are required to use an FD calculator.

Is it free to use the FD calculator at

Yes. The FD calculator available at is free to be used anytime.

Is the maturity amount calculated by the tool an exact figure or an approximate one?

The figures provided by the FD interest calculator are the closest estimate. This is because the rates may change at the time of actual purchase (e.g. in case of premature withdrawal). Thus, the figures are for reference purpose only, providing the best estimate.

What is the minimum tenure for which one can invest in a fixed deposit?

Customers can deposit for a minimum of 7 days in a fixed deposit. However, this figure may be higher for some banks.

Is the interest earned on a fixed deposit taxable?

Yes. The interest earned on an FD is taxable. However, as per the Section 80C of the Income Tax Act, 1961, investors can claim deductions for up to Rs. 1.5 lakh per financial year.

What is the interest rate for senior citizens for fixed deposits?

Most of the banks provide senior citizens with preferential FD rates (e.g. 0.50% extra). For banks like Axis Bank, preferential interest rates are awarded at different proportions for select tenure.

Does the fixed deposit interest rates calculator available at give same results for FD schemes as tools like SBI FD Calculator and HDFC Calculator does?

Yes. The fixed deposit is calculated using the same formula (simple interest or compound interest) across all the FD interest rate calculators. Therefore, be it SBI or HDFC FD calculator, the maturity amount shall be the same, provided the deposit amount, tenure and the interest rate are the same.

Is it compulsory to provide PAN card for opening a fixed deposit?

Yes. It is mandatory to produce the PAN card when applying for any FD scheme.

Is there a different FD calculator for senior citizens and tax saving FD schemes?

No, there is no separate fixed deposit calculator for senior citizens or tax saving FD schemes. The tool requires only the deposit amount, tenure and the fixed deposit interest rates to calculate the maturity amount.