Enter your deposit amount, interest rate, and tenure. Ledger works out your exact maturity value, total interest earned, and a year-by-year growth breakdown.
| Year | Opening balance | Interest | Closing balance |
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Fixed Deposits grow through compound interest, but the compounding frequency your bank uses changes your actual return, even at the same advertised rate.
Banks typically advertise an annual interest rate, but most compound it quarterly behind the scenes - meaning interest is calculated and added to your balance four times a year, not once. The more frequently interest compounds, the faster your money grows, since each round of interest starts earning its own interest sooner. That's why two FDs at the same "7% annual rate" can mature to slightly different amounts if one compounds quarterly and the other compounds annually.
This calculator defaults to quarterly, since that's the most common convention for Indian bank FDs - but you can switch it to match your specific FD's terms.
This calculator assumes a cumulative FD - interest is reinvested and compounds until maturity, when you receive one lump sum. A non-cumulative FD instead pays out interest to you periodically (monthly, quarterly, or annually) rather than reinvesting it, so you get smaller regular payouts and just your original principal back at the end - useful if you need regular income rather than a lump sum.
Most Indian banks compound FD interest quarterly by default, though some offer monthly or annual compounding options. This calculator defaults to quarterly, but you can change it to match your specific FD scheme.
A cumulative FD reinvests interest back into the deposit, so you receive one lump sum at maturity - this is what this calculator shows. A non-cumulative FD pays out interest periodically instead, so you receive smaller regular payouts and only your original principal back at maturity.
Yes, FD interest is added to your total income and taxed according to your income tax slab. Banks also deduct TDS if your total interest from that bank crosses the threshold set by the Income Tax Department in a financial year. This calculator shows pre-tax maturity value - consult a tax advisor for your exact post-tax returns.
Most banks charge a premature withdrawal penalty, typically reducing your effective interest rate by 0.5% to 1%, and you earn interest only for the period you actually held the deposit. Terms vary by bank, so check your specific FD's premature withdrawal policy.