FD Calculator
A fixed deposit (FD) keeps your money with a bank for a fixed time at a fixed interest rate. The Gunaka FD calculator shows the maturity amount and the interest earned for the amount, rate and period you enter. It does not look up current bank rates, so enter the rate printed on your own FD offer.
How the maturity amount is worked out
With compounding, the maturity amount is A = P x (1 + R / (100 x k))^(k x t). P is the deposit, R is the yearly rate in percent, k is how many times a year interest is added (4 for quarterly, 12 for monthly, 1 for yearly) and t is the time in years. If interest is paid out and not reinvested, the calculator uses simple interest, A = P x (1 + R x t / 100).
A worked example you can check
Deposit Rs 1,00,000 for 5 years at 7% a year with quarterly compounding. The quarterly rate is 1.75% and there are 20 quarters, so A = 1,00,000 x 1.0175^20, which is about Rs 1,41,478. The interest earned is about Rs 41,478. The 7% is an example only. Banks change FD rates, and they differ by bank, tenure and for senior citizens, so check your bank's current rate before you decide.
Things worth checking on an FD
- Compounding frequency. More frequent compounding gives slightly more at the same stated rate.
- Premature withdrawal. Banks usually charge a penalty if you break an FD early.
- Tax. Interest on FDs is taxable and banks may deduct TDS above certain limits. Check the current rules on the Income Tax Department website. The calculator shows interest before tax.
- Deposit insurance. Rules on insured amounts are set by the deposit insurer, so read the official notice rather than relying on a summary.
Results are estimates for planning, not financial advice.
Frequently asked questions
How is FD maturity amount calculated?
With compounding it is A = P x (1 + R / (100 x k))^(k x t), where k is the number of compounding periods per year and t is the number of years.
Which compounding does the calculator use?
You can choose quarterly, monthly, yearly or simple interest to match your bank's FD terms.
Is FD interest shown before or after tax?
Before tax. Interest on a fixed deposit is taxable, so your actual return after tax can be lower.
Does the FD calculator show today's bank rates?
No. Enter the rate from your own bank's offer, because rates change and differ between banks and tenures.
What if I withdraw an FD early?
Banks usually apply a penalty and a lower rate. Check the terms of your deposit, as the calculator assumes you hold to maturity.