See your maturity amount and total interest, using quarterly compounding the way banks actually calculate FDs.
A fixed deposit (FD) locks a lump sum with a bank for a set period at a fixed interest rate. Indian banks almost always compound the interest quarterly, which means interest is added to your balance every three months, and the next quarter's interest is calculated on the slightly larger amount.
The formula is: Maturity = P × (1 + r/4)^(4 × years), where P is your deposit and r is the annual rate as a decimal. Because of quarterly compounding, the effective return is a little higher than the plain annual rate.
Note: interest earned on FDs is taxable as per your income slab, and banks deduct TDS above certain limits. This calculator shows the pre-tax maturity value.
Most Indian banks compound FD interest quarterly — every three months — which gives a slightly higher return than simple annual interest. This calculator uses quarterly compounding to match how banks work.
Yes. FD interest is added to your income and taxed at your slab rate. Banks also deduct TDS once the interest crosses a threshold in a year. The maturity shown here is before tax.
Usually yes, but banks typically charge a small penalty and pay a slightly lower rate for premature withdrawal, so your actual return would be a bit less than shown.
Yes, free and private — it runs entirely in your browser with no sign-up.