FD Calculator


Bank fds

Bank FD Names For General Citizens (p.a) For Senior Citizens (p.a)
State Bank of India FD 6.10% 6.90%
HDFC Bank FD 6.25% 7.00%
ICICI Bank FD 6.25% 6.95%
IDBI Bank FD 6.10% 6.85%
Kotak Mahindra Bank FD 6.20% 6.70%
RBL Bank FD 5.75% 6.25%
KVB Bank FD 6.10% 6.60%
Punjab National Bank FD 6.60% 6.60%
Canara Bank FD 6.50% 7.00%
Axis Bank FD 6.50% 7.25%
Bank of Baroda FD 5.65% 6.65%
IDFC First Bank FD 6.00% 6.50%
Yes Bank FD 6.75% 7.50%
IndusInd Bank FD 6.25% 7.00%
UCO Bank FD 5.30% 5.80%
Central Bank of India FD 6.25% 6.75%
Indian Bank FD 6.30% 7.05%
Indian Overseas Bank FD 6.40% 6.90%
Bandhan Bank FD 5.60% 6.35%

*The interest rates are subject to change as per the discretion of the bank

A fixed deposit allows you to invest your funds for a fixed term and earn returns at a fixed interest rate. 5paisa FD calculator is a tool that helps in calculating how much interest one would earn on a fixed deposit.

You can achieve your investment goals by calculating the maturity amount and selecting the suitable tenure and compounding period for fixed deposits (FD). Investors ignore this crucial initial step in investment and earn a lesser return on investment (ROI) because manual computation is complex and may be inaccurate. The solution is a FD calculator.

Banks or non-banking financial institutions (NBFCs) accept the money, hold it for a fixed period, and pay an agreed sum as interest. The interest rate may be fixed or floating, and you can also choose the compounding frequency.

The tenure (minimum 7 days) and the principal are flexible. Use an online calculator for FDs to guide you to make the right choices. On maturity, you will receive the deposited amount and the interest thereof.

It is always better to know how much you will earn as ROI on a FD before depositing the amount because it will tell you the maturity amount, the appropriate tenure and the interest payable period.

To know the return on your investment, you need to calculate the compound interest amount, which involves many complex calculations that are challenging to do manually but very simple if you use the FD calculator—online.

The online calculator is user-friendly, and the 5paise official website has it. Input the deposit or principal amount, the tenure or its term, and the bank's interest rate. 

The online calculator calculates your returns and generates a report. Depending on the calculation, decide on the correct sum to earn your desired return. Use the calculator to check the FD returns of many banks and NBFCs for a comparative study to choose the most beneficial one.

A calculator thus is a valuable tool available online. Without it, you will have to calculate several variables by providing accurate earring figures manually.  

You can use the FD calculator on the 5paisa website as often as possible to make multiple computations to decide on the most profitable interest rate on FD. It is simple to use and provides you with the most beneficial interest rates accurately and quickly:

Use the FD calculator for the most profitable interest rates; follow these steps:

1. Enter the amount you wish to deposit in the provided space next to the investment amount option.

2. The next option is the rate of interest, enter the interest rates in the provided space.

3. The 'time period' option follows it. Fill in the tenure for which you wish to hold the FD.

4. The final field is the compounding frequency; You can choose from quarterly, yearly or half-yearly. Enter your choice.

5. In a split second, the system will generate a report with the following details:

  • Investment Amount
  • Total Interest
  • Total Value

It is possible to manually calculate the FD Maturity amount under the investment amount approach, but that can be cumbersome and, considering the difficulty level, inaccurate. That is why most investors use online Fixed deposit calculator, which give accurate figures by inputting a few details. Here are some more reasons to use FD calculator:

  1. Calculating the multiple variables to arrive at the maturity amount takes much time and can be confusing. 
  2. The entire process may tire the investors out, and they may not want to compare FD returns from other banks or NBFCs and end up earning much less.
  3. The fixed Deposit calculator displays the maturity figures in seconds and thus smoothens the investor's investment journey.


As a depositor, you can choose to receive simple or compound interest and use the 5paisa FD interest calculator for computation.

Simple Interest Calculation—Formula

The calculator uses the following formula to compute the simple interest rate for FD:

FD Interest Calculator — Simple Interest
M = P + (P X R X T/100)

In the formula,

 P is the principal amount or the amount to be deposited
 R is the interest rate
T is the months or years you want to hold the deposit


For example:

Suppose you invest INR 100,000 for 1 year at an interest rate of 6% on an annual compounding frequency. The calculation will be as follows:

1.06,000 = 1,00,000+ (1,00000 X 6X 1) /100


Compound Interest Calculation

The formula for the calculation of Compound interest is as follows:

M = P + P ((1+ I/100) T - 1)

In the formula,

P stands for the principal

I stand for the interest

T stands for the term

For the exact figures in the above example, the value of M or the compound interest is equal to:

1,34,686 = 1,00,000 + 1,00,000 (( 1+6/100) 5 -1)

You can make an informed decision after deriving the accurate figures using a 5paisa calculator to meet your investment objectives. Scroll down for more.

FDs are term deposits with flexible tenure (7 days to 10 years). The calculator helps you choose the best tenure to achieve your desired return.
Using a calculator, you must select a compounding frequency that will work for you.
The calculator will provide the total interest and maturity amount. 
The 5paisa calculator provides you with a detailed report and comprises of:
The return on FDs
The compound interest receivable — monthly, quarterly or annually

Salaried employees can receive bonuses or an unexpected hike in salary, and non-salaried people, too, could have a sudden unexpected surge in business and end up with much money in their hands. Although the temptation to spend the same will be strong, a prudent person will invest the same for a fixed time in a fixed deposit (FD) in banks or Non-Banking Financial Companies (NFBC).

An online FD calculator is the most accurate way of finding the FD maturity amount. There are two approaches, namely the Investment Amount Approach and the Target Amount Approach to know what the investment amount should be to earn the target amount at maturity.

  • Investment Amount Approach
  • Target Amount Approach

Investors generally invest in FDs when they plan a considerable expenditure. The idea is to employ idle funds to earn the maximum possible interest for a fixed time. Suppose the investors time the FD intelligently and know precisely how much they will receive on the maturity of their investment in the FD. In that case, they can understand what their investment amount should be. That will guarantee they do not run short of funds in their time of need. Thus, investors need to know what their FD will yield on maturity.

How to Use the FD Calculator for the Investment Amount Approach?

The process of using the investment amount approach to know the maturity amount and the interest thereof with the FD calculator is simple. Do as follows:

  1. Open FD Calculator on top of the page
  2. The investors enter the amount they wish to invest in the space provided for the investment amount
  3. The interest rate generally appears on its own and is around 5.5%
  4. The investor must enter the chosen tenure for the FD investment
  5. The investor then enters the following detail: the chosen compounding period. They could select the compounding period from monthly, quarterly, half-yearly or annually. The compounding period is a crucial factor that determines the interest rates and affects target amounts which is why it should be chosen cautiously

The FD return calculator will calculate the FD deposit amount and, depending on the details the investor provides and will display the following:

The total amount an investor must initially deposit
The wealth the FD will create for the investor or the interest-earning
The total amount the investor will receive at maturity


How Does the FD Calculator Calculate the Maturity Amount under the Investment Amount Approach?

Investors can use the FD maturity calculator to calculate both maturity interest at simple and compounding interest rates.

The formula for the calculation of FD maturity amount with the investment amount approach is as follows:

M = P + (P x r x t/100)


  • 'M' represents the final maturity amount that an investor will receive at FDs maturity
  • 'P' represents the investment amount or the principal amount
  • The 't' describes the tenure
  • And 'r' is the annual rate of interest


Shyam plans to buy a house in five years and wants to pay a ₹10,50,941 downpayment to reduce his home loan amount. So how much should his investment amount be?

1,04,91,190 = 7,60,000 = (7,60,000 x 6.5% x 5 / 100)

He will have to invest ₹ 7,60,000 for five years at an interest rate of 6.5%.

Here is what Shyam did to safeguard his investments:

It is better not to invest the entire amount in one bank or financial institution; Shyam used the FD calculator to compare the interest rates and maturity returns of various banks and NBFCs.
He selected eight financially sound NBFCs to invest his money in FDs.
He then deposited 4 FDs of ₹25,000 each in each NBFC for five years.

Here is how such a prudent investment will help Shyam:

Diversification Equals to Safe Investments

Shyam chose eight NBFCs so that the entire sum of his investments would not be held by one undertaking but by eight different ones. 

If he were to invest in one NBFC only and if it underwent bankruptcy and closure, his liability would only be limited to ₹1.00.000. But if he were to invest the whole sum in the NBFC that closed down, he would lose the entire sum.

Premature Closure of FDs Attract Penalities

Shyam could face a financial emergency during his investment tenure, forcing him to break his FD. Had he placed the entire amount in FD, he would have had to pay pre-payment charges on the whole amount!

But his brilliant investment strategy will help him in the following way.

Shyam invested his money in FDs in 2019, a year before the world closed down due to the pandemic. He has two children, and he suddenly needed to buy them a laptop each to attend online classes. He approached one of the NBFCs and closed two FDs valued at a little more than ₹50,000. The NBFC charged him preclosure charges only for the two FDs he closed. 

Had he placed the entire sum of ₹100,000 in one single FD, he would have to break it and pay preclosure charges on the whole amount. Here he saved money and earned from the remaining two FDs.


The target amount approach is a method to calculate the principal amount of an FD to get a target amount at maturity. In order words, it is the precise amount you must invest and the interest to earn to pay a specified amount at FD maturity. Here the target amount is the future value of your FD investment.


How does FD return Calculator calculate the Investment Amount for a Specific Target Amount?

Use the online FD calculator and use the target amount to calculate the interest and the principal amount of the FD as follows:

  1. The first field the investor will find on the FD calculator page is the target amount. Input your target amount in the provided space.
  2. How many months or years does the investor plan to hold the investment? Input the same in the space provided for the investment period.
  3. The investor must input the rate of interest. 
  4. The investor must then enter the rate of interest at which he invests in the FD.
  5. The investor must then cautiously enter the compounding period, which could be monthly, quarterly, half-yearly or annually. Please don't skip this step, as the interest amount depends on it. Variations of any kind could result in inaccuracy.

Now that you have provided the above details, the calculator will instantly display the sum the investor must invest in the FD to receive the target amount at maturity. The target amount is the principal amount inclusive of the interest for the lifetime of the FD.

The investor can know all the details and the precise calculations by downloading the full FD investment report by clicking on the appropriate tab. Here are the details that will display at the end of each payout period:

  • The opening balance of the FD investment
  • The closing balance of the FD investment
  • The interest earned on the FD investment

The report will display each of the above for each month, quarter, half-year, and year-end.

An investor can understand clearly by downloading the Fixed Deposit investment Graph. It clearly depicts the maturity amount and the interest-earning thereof at the maturity of the FD investment.

We can sum up the benefits and need for an FD calculator, saying that it provides valuable investment information that would take much time to compute.


The target amount is the maturity amount on an FD, which includes the principal and the interest earned during the investment tenure. The most accurate way of calculating the same is using an FD calculator.

The target amount approach considers the target amount of the FD to help the investor to decide on the principal amount and tenure. 

The investment approach considers the FD principal amount, rate of interest and tenure to state the maturity amount of the FD.

Several banks and NBFCs accept investors' money for deposits, and the minimum and maximum amounts differ as per their policies. Generally, Banks in India don’t specify an upper limit for FDs.

Investors can calculate the maturity amount by multiplying the FD interest rate with the FD tenure and deposit. Investors can find the simple interest on their investment by multiplying the principal with the interest rates and term and dividing it by 100.

In India, the tenure for FDs varies from 7 days to 10 years, as per the customer's choice. However, holding deposits for a longer term is beneficial, as it attracts a higher interest rate.

Banks and NBFCs allow investors to choose from simple or compound interest rate methods. Simple interest is interest-only on the FD principal, but compound interest is calculated on the principal and the interest.

There are no fixed FD interest rates as it varies from one bank to another depending on their policies and RBI guidelines. FD interests thus range from 2.9 to 5.25%, depending on the tenure, amount and bank policy.

Banks and Financial institutions in India pay interest at a higher rate to Senior citizens' FDs.

The interest rates for the various investor categories differ from bank to bank and NBFC to NBFC. The interest rate for senior citizens may thus vary from 9 to 9.5%.

You can calculate your monthly FD income by multiplying the interest rate of the FD with its principal and tenure and dividing it by 12.

If you have deposited your money in an FD at the simple interest you can withdraw your interest earnings monthly.

As per the guidelines of the Indian Income Tax Act, 1961, FD interest is taxable per slab rates. Banks and NBFCs must deduct tax at source at the rate of 10% if the total amount earned as interest from deposits exceeds ₹40,000. 

FDs are a comparatively safer investment because they are not subject to market volatility; however, the returns are much lower than those whose values are subject to market fluctuations. All in all, it is a good investment option for risk-averse investors.

Investors calculate the cumulative interest by using the following formula:

 (Cumulative interest) = Principal(1 + interest rate / 100) tenure - 1.

The manual calculation of FD maturity amount can be challenging and inaccurate as it involves multiple variables, which is why FD calculators are a better option.

When investors know their returns at maturity, it will guide them in their investment decisions.

Risk-averse Investors who want to earn interest on their idle funds are best suited for FD investment.

Yes, they do because, despite the fact that fixed deposits are fixed-income instruments, banks frequently vary interest rates on FD plans.

The maturity value of an FD is the sum of the capital invested and the interest income.

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