FD Calculator
Work out the maturity amount and interest on a fixed deposit from the principal, rate, years and compounding.
- Interest earned
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- Effective annual yield
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An estimate only; your bank's maturity amount may differ slightly.
What is the FD Calculator?
This FD calculator estimates the maturity amount of a fixed deposit. Enter the deposit, the yearly interest rate, the number of years and how often interest is compounded. It shows the maturity value, the interest earned and the effective yearly yield so you can compare deposits.
How it works
The maturity amount is P x (1 + r / m)^(m x t), where P is the deposit, r is the yearly rate as a fraction, m is the number of compounding periods per year and t is the years. Interest earned is maturity minus the deposit. The effective yield is (1 + r / m)^m minus 1.
How to use it
- Enter the deposit amount.
- Type the yearly interest rate and the number of years.
- Choose how often interest is compounded.
- Read the maturity amount, interest and effective yield.
FD Calculator — FAQ
How often is FD interest compounded?
It depends on the bank and scheme, commonly quarterly. Choose the option your bank states in its deposit terms.
Why is the effective yield higher than the rate?
Interest earns further interest when compounded more than once a year, so the yearly yield exceeds the stated rate.
Does this include tax on interest?
No. Tax deducted at source or payable on interest is not included. Check the current rules for your situation.