Toolstia / FD calculator
Fixed deposit (FD) calculator
Enter the amount you deposit, the yearly interest rate and the time to see how much a fixed deposit will be worth at maturity, and how much interest you will earn.
Banks differ in how often they add interest and how they handle partial years, so your bank's figure can differ slightly. Interest may also be taxed. This is general information, not financial advice.
How it works
- Enter the deposit amount, the yearly rate and the years.
- Choose how often the bank adds interest.
- Read the maturity value and the interest earned.
The formula
Maturity value = P x (1 + r / m)^(m x t), where P is the deposit, r is the yearly rate as a decimal, m is the number of times interest is added each year and t is the number of years.
An example
A deposit of 100,000 at 7% for 5 years with quarterly interest is worth about 141,478 at the end, so the interest earned is about 41,478.
Compounding matters a little
More frequent interest gives slightly more. 100,000 at 7% for 5 years gives about 140,255 with yearly interest and about 141,478 with quarterly interest.
Check with your bank
Banks differ on how they add interest, handle partial years, pay interest out, and tax it. Your bank's deposit receipt is the figure that counts.
Questions
Can I enter months?
Yes. Use a decimal number of years, such as 0.5 for six months or 2.5 for thirty months.
Which compounding should I choose?
Many banks use quarterly. Check your deposit terms.
Does it include tax?
No. Tax on interest depends on your country and income.
Is it in any currency?
Yes. Results use the same unit as the deposit.