Is the FD interest calculator free to use?

Yes. Most of the FD calculators, including the Policybazaar FD calculator, are free of charge and do not require any registration or payment.

How long does it take to use the FD calculator?

It takes only a few seconds to calculate. Simply enter the deposit amount, interest rate, duration, and compounding frequency (if any). The calculator will then display the expected interest and maturity amount.

How does the FD calculator help with financial planning?

Before you invest anywhere, remember to calculate the expected returns using a calculator. This may show you what you could receive. In this way, you can easily compare your fixed deposit choices and plan for better future financial goals such as retirement, higher education or major purchases.

Can I get monthly interest on a fixed deposit?

Yes. Some of the banks provide non-cumulative fixed deposits, which pay interest on a monthly, quarterly, semiannual, or annual basis rather than at maturity. The payout options vary per bank and FD arrangement.

No. Interest earned on a fixed deposit is taxable under both the old and new tax regimes and is added to your total taxable income. Under the old tax regime, eligible 5-year Tax Saver Fixed Deposits qualify for a tax deduction of up to â¹1.5 lakh under the corresponding provision of the Income-tax Act, 2025, Section 123 (earlier Section 80C). This deduction is not available under the new tax regime.

Can I withdraw an FD before maturity?

Regular fixed deposits also usually allow early withdrawal although the bank may charge a penalty or pay interest at a lower applicable rate. Tax Saver FDs are non-refundable before maturity and have a lock-in period of 5 years.

Is FD a risk-free investment?

Fixed deposits are a low-risk investment that gives you continuous returns which are not affected by market ups and downs. The DICGC or Deposit Insurance and Credit Guarantee Corporation insures deposits up to â¹5 lakh per depositor per bank. It covers both principal and interest. But they are not completely risk-free.

FD Calculator

The FD (Fixed Deposit) calculator is an online web application to estimate the maturity amount and interest earned automatically. Simply enter your deposit amount, tenure and interest rate and avoid complicated calculations and compare different investment scenarios effortlessly.

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FD Calculator

Investment Basics

Let’s start with your investment goals.

Tenure & Payout Preferences

Select how long you want to invest and your payout preference.

Best Rates

Here are the best rates available for you.

General

Senior citizen

Amount you want to invest ₹

Select tenure & payout preferences

Interest payout

On maturity

Monthly

Quarterly

Investment duration

Maturity date

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Find the best interest rates and payout

7.25%

For tenure of 2Y 1D to 3Y

7.00%

Highest

For tenure of 3Y 1D to 5Y

7.00%

For tenure of Tax saver FD (5Y)

Custom interest rate

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Money you’ll receive on Maturity

₹0

Total investment

₹0

Total interest

₹0

Effective yield

Interest rate:

0% _{per annum}

Effective yield

0% per annum

Maturity amount

₹0

Total interest

₹0

Duration

2Y 0M 1D

Maturity date

18 Nov, 2027

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What is a Fixed Deposit (FD) Calculator?

An FD calculator is an online tool that projects the interest earnings and maturity value of a fixed deposit investment. By entering a few details, including the applicable FD interest rates, it automates the calculation and gives you a quick estimate based on the details entered.

The calculator factors in:

Tenure of the deposit
Investment amount
Type of the FD (general or senior citizens)
Applicable FD interest rate
Interest payout type (on maturity, monthly, quarterly)

How Can an FD Calculator Help You?

A fixed deposit calculator is a useful tool to calculate your interest earnings. This helps you know how alternative investment amounts can impact your overall returns before you open a fixed deposit.

Estimated Interest Earnings: Shows the estimated interest earnings based on the deposit amount, tenure, and applicable interest rate.
Try Different Deposit Amounts: Compare how changing the investment amount affects the estimated maturity value and interest earned.
Supports Better Investment Decisions: Allows you to check numerous investing options before choosing the best fixed deposit.

FD Calculator Formula

The calculator uses one of two formulas, depending on whether the FD pays simple or compound interest.

Simple Interest

Suppose you invest ₹1,00,000 for 3 years at 7% p.a. (simple interest).

P = ₹1,00,000
r = 7
t = 3

M = 1,00,000 + (1,00,000 × 7 × 3 / 100)

M = 1,00,000 + ₹21,000

Maturity Amount = ₹1,21,000

Compound Interest

Suppose you invest ₹1,00,000 for 3 years at 7% p.a., with annual compounding.

P = ₹1,00,000

r = 0.07

n = 1

t = 3

M = ₹1,00,000 × (1 + 0.07/1)^(1 × 3)

M = ₹1,00,000 × (1.07)^3

M = ₹1,00,000 × 1.225043

Maturity Amount = ₹1,22,504.30

How to Use Policybazaar's FD Calculator

Follow these simple procedures to find out the expected interest earned and maturity amount for your fixed deposit:

Open the FD calculator on the website.
Enter the principal amount, rate of interest, and tenure.
The calculator will show your expected interest and maturity amount.
You can also choose a payout type like on maturity, monthly, or quarterly.

Benefits of Using the Policybazaar FD Calculator

FD calculator helps you estimate your expected returns and evaluate other deposit choices before investing. Given below are the benefits:

Estimated Maturity Value: Instantly estimates the maturity amount based on the deposit amount, tenure, and applicable interest rate.
Quick and Error-Free: Removes the need for manual compound interest calculations, giving you quick estimates based on the details entered.
Comparison Before Investing: Lets you compare maturity values across different FD schemes, interest rates, tenures, and multiple banks’ FD rates comparison.
Goal-Based Planning: Shows your expected returns in advance, helping you align your FD investment with goals like retirement or education funding.
Payout Mode Selection: Helps you decide between a cumulative FD and a non-cumulative FD based on your income needs.

Key Takeaways

The calculator automatically estimates the interest earned and maturity value, so you don't have to do it yourself. It helps compare different tenures, interest rates and payout options for selecting a suitable fixed deposit and make an informed investment decision.

FAQs

Is the FD interest calculator free to use?

Yes. Most of the FD calculators, including the Policybazaar FD calculator, are free of charge and do not require any registration or payment.
How long does it take to use the FD calculator?

It takes only a few seconds to calculate. Simply enter the deposit amount, interest rate, duration, and compounding frequency (if any). The calculator will then display the expected interest and maturity amount.
How does the FD calculator help with financial planning?

Before you invest anywhere, remember to calculate the expected returns using a calculator. This may show you what you could receive. In this way, you can easily compare your fixed deposit choices and plan for better future financial goals such as retirement, higher education or major purchases.
Can I get monthly interest on a fixed deposit?

Yes. Some of the banks provide non-cumulative fixed deposits, which pay interest on a monthly, quarterly, semiannual, or annual basis rather than at maturity. The payout options vary per bank and FD arrangement.
Is FD tax-free?

No. Interest earned on a fixed deposit is taxable under both the old and new tax regimes and is added to your total taxable income. Under the old tax regime, eligible 5-year Tax Saver Fixed Deposits qualify for a tax deduction of up to ₹1.5 lakh under the corresponding provision of the Income-tax Act, 2025, Section 123 (earlier Section 80C). This deduction is not available under the new tax regime.
Can I withdraw an FD before maturity?

Regular fixed deposits also usually allow early withdrawal although the bank may charge a penalty or pay interest at a lower applicable rate. Tax Saver FDs are non-refundable before maturity and have a lock-in period of 5 years.
Is FD a risk-free investment?

Fixed deposits are a low-risk investment that gives you continuous returns which are not affected by market ups and downs. The DICGC or Deposit Insurance and Credit Guarantee Corporation insures deposits up to ₹5 lakh per depositor per bank. It covers both principal and interest. But they are not completely risk-free.