Calculate your fixed deposit maturity amount and interest earnings. Compare different FD schemes and interest rates.
A Fixed Deposit (FD) is a financial instrument offered by banks and NBFCs that provides investors with a higher interest rate than a regular savings account, until the given maturity date. It's considered one of the safest investment options.
For a ₹1,00,000 FD at 6.5% interest for 3 years (36 months):
Interest Earned: ₹20,799 (compounded quarterly)
Maturity Amount: ₹1,20,799
After 20% tax deduction: ₹1,16,639 net amount
Key features of Fixed Deposits:
Standard Fixed Deposits: Regular FDs with fixed tenure and interest rate
Tax-Saving FDs: Lock-in period of 5 years, eligible for tax deduction under Section 80C
Senior Citizen FDs: Higher interest rates (usually 0.25-0.50% more) for investors aged 60+
Corporate FDs: Offered by companies, typically higher rates but slightly higher risk
NRO/NRE FDs: For Non-Resident Indians with special tax benefits
Understanding these FD types can help you choose the right one based on your financial goals, risk appetite, and tax situation.
Compound Interest Formula:
Where:
A = Maturity amount
P = Principal amount
r = Annual interest rate (decimal)
n = Number of compounding periods per year
t = Time in years
Simple Interest Formula:
Where:
SI = Simple Interest
P = Principal amount
r = Annual interest rate (decimal)
t = Time in years
• Monthly: n = 12
• Quarterly: n = 4
• Half-yearly: n = 2
• Annually: n = 1
• Regular FDs: 5.5% - 7.5%
• Senior Citizen FDs: 6.0% - 8.0%
• Tax-Saving FDs: 6.0% - 7.0%
• Corporate FDs: 7.0% - 9.0%