This FD Calculator helps you calculate the maturity amount and interest earned for any Fixed Deposit account.


FD Principal

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Total Interest Payable

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Total Payment
(Principal + Interest)

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Back up of Total Payments
FD Interest
Bank Interest Rates
SBI 6.50%
ICICI 6.75%
HDFC 6.80%
PNB 6.90%
Axis 7.0%
Canara Bank 7.4%
Check FD interest rates for other banks.

Year Opening Balance Interest Earned Closing Balance
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What is fixed deposit?

Fixed Deposit is a type of Term Deposit with higher interest rate when compare to regular account. As it provides high-interest rate and low risk, it become quite famous in India. The interest rate is fixed for the completely maturity period and, it's generally regarded as a safe investment. It is a financial instrument employed by banks which is beneficial to investors. It is also defined as a time deposit. They are regarded to be very safe investments.

Type of Fixed deposit account

Fd accounts are available in two varieties of FD- cumulative and non-cumulative. You can select any one of them. In cumulative Fixed Deposits, the rate of interest remains same and higher than any other type as you will not be allowed to withdraw the money or interest of it.

But in non-cumulative, you get the choice of interest withdrawal on monthly, quarterly, half-yearly or yearly basis. So, the rate of interest differs in this case.

Some facts about Fixed Deposit

  • The interest varies bank to bank and also on the maturity period (usually 1-3 years of term deposits offer higher interest rate). The interest quarterly (every three months) in most banks.

  • Fixed Deposits have possess liquidity, and, you're not expected to withdraw any amount (however you could take loan at low-interest rate @ 1% or 2%) before maturity date. If you do, a penalty may be employed and the interest rate will be decreased. However, few banks (e.g ICICI) do provide fixed deposits with premature withdrawal facility.

  • You also require to pay taxes on the interest you gained during a financial year, based on your tax bracket. For longtime requirement, you could also search for some alternatives to FD, like PPF (very safe and it has tax benefit as well) and making SIP (investing in equity asset is not safe but it has influence to generate higher returns in long-term) into mutual funds.

Benefits of FD

  • It's very safe- A fixed deposit offers sure returns. Unlike market-led investments where returns differ over time, the returns on an FD are fixed when you start the account. Even if interest rates lowers after you open a fixed deposit, you will able to receive the interest decided at the commencement. FDs are regarded much safer than investments in other assets like equity.

  • Stable and predicted returns

  • best for conservative investors

  • While FDs are not flexible for an agreed tenure, you can apply for a loan against it when you require funds. The benefit is that your FD continues to earn interest, you don’t have to prematurely withdraw your FD, and en Your return on an FD will depend on the interest rate and the class of deposit you select.

  • Facility of automatic renewal. Tax Saving advantages on 5 year plus FDs approves for deductions U/S 80C of the Income Tax Act,1961. FDs become an lucrative investment option as they provide good returns and are almost completely secure with no risk. You are assured of returns for your investment.

  • Customers can get loans against FDs up to 80 to 90 percent of the value of deposits.

  • A wide variety of tenures, ranging from 7 days to 10 years, to get your investment plan.

  • You can select for a monthly or quarterly pay-out of interest or the reinvestment option, which will give you the advantage of compounding up paying a penalty

Limitations of FD

  • Low liquidity

  • Low returns because actual returns are lesser when you consider taxes and inflation

  • Not suitable for long time wealth creation or the investors with danger appetite (e.g young investors in their 20s or 30s)

  • Always the rate of interest is much increased in Fixed Deposit compared to other deposits.

Features of Fixed Deposit Account

  • The main aim of FD account is to provide the individuals to earn a higher rate of interest on their surplus funds. The amount can be submitted to bank only once.

  • Next time deposits, separate accounts require to be opened. The depositor is given a fixed deposit certificate for proof, which depositor has to show at the time of maturity or renewed for a further period.

  • Nominee person is titled to receive funds dedicated in a particular FD upon depositor's death.


FD as an investment is less risky than this aspect is the reason why its returns are lower compared to other risk investment options. Then there is an issue of liquidity, while your money is sealed up with the bank, it is not simple to withdraw at a moment's notice. In fact, if you take out before the agreed duration, you will be punished. Also, there is no tax benefit in below 5 year fixed deposit investment, not like the infrastructure bonds or the National Savings Certificate (NSC). So, even from a taxation point, this is not the best of investment choice