What it does
The FD calculator works out a fixed deposit’s maturity amount with interest compounded every quarter, as Indian banks do:
- Maturity amount: what the deposit grows to by the end of the period, for example 141,477.82 for 100,000 at 7% a year for 60 months.
- Deposit: the amount you put in, 100,000.00 in that example.
- Interest earned: the maturity amount minus the deposit, 41,477.82 in that example.
The result updates as you type.
How to use it
- Type the deposit.
- Type the interest rate as a yearly percentage.
- Type the period in whole months.
- Select Copy result to put the figures on your clipboard.
The calculator remembers your numbers on this device, so they’re there the next time you open the page.
How it’s calculated
The calculator follows Indian banks’ rule for a cumulative fixed deposit: interest is added every quarter, and a part quarter at the end earns simple interest. With the deposit P, the yearly rate r in percent, q whole quarters and m months left over:
A = P × (1 + r ÷ 400)^q × (1 + r × m ÷ 1,200)
For 100,000 at 7% a year for 60 months, q = 20 and m = 0, so A = 100,000 × (1 + 7 ÷ 400)^20 = 141,477.82. For 16 months, q = 5 and m = 1, so A is 109,697.85.
The calculator works the amount out exactly and rounds it half up to whole cents once, so no rounding builds up along the way.
Good to know
- The deposit can be from 1 to 1,000,000,000,000, and is rounded to whole cents.
- The interest rate can be from 0% to 50% a year, in steps of 0.01. At 0%, the maturity amount is the deposit.
- The period is a whole number of months from 1 to 120.
- Banks’ day counts, short-deposit rules and TDS can change the figure.
- No currency is assumed: the amounts are in whatever currency you type.
Privacy
Everything is calculated in your browser, on your device. Nothing you type is uploaded. Only your numbers are kept, in this browser’s storage, so the page can show them again.