Fixed Deposit Calculator

Enter a deposit, the bank's interest rate and the term to see the maturity amount and the interest earned.

Illustrative estimate, not financial advice.

Maturity value: $34,510
Interest earned: $9,510
Deposit: $25,000

A deposit of $25,000 at 6.5% a year for 5 years matures at about $34,510, earning $9,510 in interest.

Balance at the end of each year
Year	Balance	Interest so far
1	$26,665	$1,665
2	$28,441	$3,441
3	$30,335	$5,335
4	$32,356	$7,356
5	$34,510	$9,510

Illustrative estimate, not financial advice.

Assumptions

The quoted rate is fixed and compounded at the chosen frequency.
No premature withdrawal, penalty or tax deducted at source.
Rates and compounding rules differ by bank; check your deposit certificate.

Illustrative estimate, not financial advice. Results are shown before tax and fees unless stated.

What the fixed deposit calculator does

A fixed deposit locks a lump sum with a bank for a set term at a fixed rate. At maturity you receive the deposit plus interest. Many banks compound interest quarterly.

How it is calculated

Maturity value = P x (1 + r / k)^(k x t), where P is the deposit, r is the annual rate as a decimal, k is the compounding periods a year (quarterly = 4) and t is the term in years.

Worked example

A deposit of $25,000 at 6.5% a year for 5 years matures at about $34,510, earning $9,510 in interest.

Questions and answers

How is fixed deposit interest calculated?

Interest is added to the balance at each compounding date and then earns interest itself. The formula above gives the total at maturity.

Is quarterly compounding the default?

It is the common choice for bank fixed deposits in India, so it is the default here. You can switch to yearly, half-yearly, monthly or daily.

Does the result include tax?

No. Interest may be taxable, and some banks deduct tax at source. Treat the result as before tax.

What happens if I break the deposit early?

Banks usually pay a lower rate and may charge a penalty. This calculator does not model that.