FD Calculator

Total Investment Amount


Time Period

Interest Rate

1 %

FD Calculator – An Overview

In a country like India, fixed deposits are counted among the most popular and secure forms of financial investment. With adjustable tenure options, it provides fixed or guaranteed returns. Many banks and financial organizations provide it to help people achieve the ideal level of balance in their financial portfolio. You may estimate the maturity and interest rate of your fixed deposit investment with our online calculator.

An online calculator for fixed deposits can be used by applicants to estimate their expected earnings at the end of the fixed deposit term. The final calculation of the maturity amount considers the principal amount, term, and relevant interest rate. Therefore, this calculator provides you an estimate of your profits in advance before you invest in a fixed deposit, assisting you in making a sensible financial decision.

There are primarily two ways to calculate interest on fixed deposits - simple interest and compound interest. Both the ways are described below.

Simple Interest

The simple interest formula is;

SI = P x R x T / 100

Compound Interest

The formula for compound interest is;

*A = P (1+r/n) ^ (nt)**


A = Maturity amount

P = Investment amount

r = Interest rate (in decimals)

n = number of compounding in a year

t = time period in years


FD Calculator (FAQs)

The FD calculator from Investkraft has a lot of benefits. Some of them are:

  • Since you don't have to utilize the difficult FD calculation formula, using the calculator is easy.
  • It saves time because you receive the answer in no time.
  • The accuracy of this free online FD calculator ensures that the output is completely precise.
  • Because of the FD calculator's precision, you will be able to better organize your budget.
  • But keep in mind that any FD calculator has a drawback. You cannot use the FD calculator to determine the potential tax burden on your FD returns.

Interest on Fixed Deposits is computed based on the FD's tenure and the current interest rate in effect at the time the FD is opened. How to compute interest is as follows :
  • Cumulative FD: Interest is compounded/reinvested to the principal amount after being determined for the quarter. The cumulative sum is used to compute interest for the upcoming quarter.
  • Traditional FD with Quarterly Interest Payout Option: Simple interest is computed and disbursed at the conclusion of each quarter.
  • Traditional FD with option for monthly interest payment: At the conclusion of each month, interest is paid at the discounted value.
  • Simple interest is used to compute interest for short-term financial instruments

Yes. By breaking the FD, the full money or a portion of it may be withdrawn. However, your bank may give you 0.5% to 1% less if you close your FD in this circumstance as a penalty for taking the money out before maturity. Additionally, the rate of interest that applies will depend on how long the deposit has been held.

For investors who are risk averse, fixed deposits are a fantastic investment choice. However, they can also aid in tax reduction. They typically have a maturity length of five years and are popularly known as fixed deposits that save on taxes.

Under Section 80C of the Income Tax Act, you are eligible for tax deductions of up to Rs. 1.5 lakhs annually, regardless of your tax rate. For tax-saving FDs, you can also open a single or combined account. Only the primary holder of a joint account benefits from taxes.

It is crucial to remember that interest received on FDs is tax-free, but only up to a specific amount. When it exceeds this threshold outlined by the Income Tax Act, taxes become due since the sum is regarded as financial gain.

For senior adults, several banks provide special rates that are typically a little higher. For deposits of one year or more, Senior Citizen may be subject to an additional markup of 0.5% to 0.75%. Additionally, it aids in tax deductions that may be made under section 80C of the IT Act.

NRIs can open FDs through NRE (Non-Resident External) or NRO (Non-Resident Ordinary) accounts in addition to resident Indians. The upper limitations for this program may start at Rs 1 crore and may be different from one bank to another.

Reach out to our Experts if you have any Doubts

Like the best things in life, Consultations @InvestKraft are free

Drop a Mail or give us a Missed Call & Begin your Investment Journey here