Do senior citizens get higher FD rates?

Yes, most banks offer senior citizens an extra 0.25% to 0.50% over the standard FD rate. Enter that higher rate in the calculator to see the difference.

What is the difference between simple and cumulative FD?

A cumulative FD reinvests the interest so it compounds and is paid at maturity, which the calculator assumes. A non-cumulative FD pays interest out periodically (monthly or quarterly), so there is no compounding and the maturity is just the principal.

FD Calculator — Fixed Deposit Maturity & Interest

Q: How is FD maturity calculated?

Most banks compound FD interest quarterly, so the maturity amount is principal x (1 + annual rate / 400) raised to the power of 4 times the number of years. For example, Rs 1,00,000 at 7% for 5 years matures to about Rs 1,41,478.

Q: Is FD interest taxable?

Yes. FD interest is taxable as income from other sources at your slab rate. Banks deduct TDS at 10% if the interest in a year exceeds Rs 40,000 (Rs 50,000 for senior citizens), unless you submit Form 15G or 15H.

A free fixed-deposit calculator (quarterly compounding). Educational tool — confirm the exact rate and maturity with your bank.

Quick answer: FD maturity is Principal × (1 + rate/400)^(4 × years), because most banks compound interest every quarter. So ₹1,00,000 at 7% for 5 years ≈ ₹1,41,478 (₹41,478 interest). Enter your amount, rate and tenure below to get your exact maturity and interest.

FD Calculator

Deposit amount (Rs) Interest rate (% per year) Tenure (years)

Maturity amount—

Interest earned—

Amount invested—

Fixed deposit maturity is calculated as principal times one plus the annual rate divided by 400, raised to four times the number of years, reflecting quarterly compounding

Banks compound FD interest quarterly — the calculator uses that.

Key takeaways

Maturity = P × (1 + rate/400)^(4 × years) (quarterly compounding).
₹1,00,000 at 7% for 5 years ≈ ₹1,41,478.
FD interest is taxable at your slab; TDS applies above ₹40,000/year (₹50,000 seniors).
Senior citizens usually get 0.25–0.50% extra.

How FD maturity is calculated

A fixed deposit earns a set interest rate, and most Indian banks compound it quarterly — the interest is added to the principal every three months and then earns more interest. That gives the maturity formula:

Maturity = Principal × (1 + rate/400)^(4 × years)

For ₹1,00,000 at 7% for 5 years, that's ₹1,00,000 × (1.0175)^20 ≈ ₹1,41,478, so you earn about ₹41,478 in interest — noticeably more than simple interest (₹35,000) because of compounding.

Tax on FD interest

FD interest is fully taxable as "income from other sources" at your slab rate. Banks deduct TDS at 10% once your interest in a year crosses ₹40,000 (₹50,000 for senior citizens); submit Form 15G/15H if your income is below the taxable limit to avoid it. Remember to declare the interest in your return even if no TDS was cut.

Related calculators

Comparing options? Try the SIP calculator, PPF calculator and EMI calculator, or see the maths behind it in our simple & compound interest calculator.

Frequently asked questions

How is FD maturity calculated?

P × (1 + rate/400)^(4 × years), with quarterly compounding. ₹1,00,000 at 7% for 5 years ≈ ₹1,41,478.

Is FD interest taxable?

Yes — at your slab; TDS at 10% above ₹40,000/year (₹50,000 seniors) unless you file 15G/15H.

Do seniors get higher rates?

Usually 0.25–0.50% extra — enter that higher rate to compare.

Cumulative vs non-cumulative FD?

Cumulative compounds and pays at maturity (this calculator); non-cumulative pays interest out periodically with no compounding.

About ComplyKraft. Built by Dinesh Kumar S in Chennai — B.Sc. Mathematics, M.Sc. IT. Free calculators and plain-language guides.

Disclaimer: Educational tool only. Actual FD maturity depends on your bank's compounding and rate — confirm before investing.