Softonic

FD Calculator

Step 1 / 3 FD Calculator
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A fixed deposit (FD) locks a sum with a bank for a set tenure at a rate agreed on day one, and pays the principal plus interest at maturity. This FD calculator takes the deposit amount, the annual interest rate, the tenure in years, months and days, and how often the interest is added to the balance. It returns the maturity amount, the interest earned, the effective annual yield and a year-by-year schedule, so you can compare one bank offer with another before you commit.

How to calculate your FD maturity amount

  1. 1

    Enter the deposit and the rate

    Type the amount you plan to deposit and the annual interest rate the bank quotes, for example 100000 at 7.

  2. 2

    Set the tenure and the compounding

    Fill in years, months and days (any of them can stay empty), then pick monthly, quarterly, half-yearly or yearly compounding, or simple interest.

  3. 3

    Read the maturity amount

    The result page shows the maturity amount, the interest earned, the effective annual yield and the balance at the end of each year.

  4. 4

    Compare offers

    Start over with another rate, tenure or compounding to see which deposit pays more.

How fixed deposit interest is calculated

The calculator uses the standard compound interest formula for a deposit that is left untouched until maturity:

A = P × (1 + r / n) ^ (n × t)

  • P is the deposit (principal) and A is the maturity amount.
  • r is the annual rate as a decimal (7% is 0.07).
  • n is how many times a year the interest is added: 12 for monthly, 4 for quarterly, 2 for half-yearly, 1 for yearly.
  • t is the tenure in years. The calculator builds it from your three fields as years + months / 12 + days / 365.

With simple interest the interest is never added back, so the formula is A = P × (1 + r × t).

What a 100,000 deposit earns over 5 years at 7%

Interest is added Maturity amount Interest earned Effective yield
Monthly 141,762.53 41,762.53 7.23%
Quarterly 141,477.82 41,477.82 7.19%
Half-yearly 141,059.88 41,059.88 7.12%
Yearly 140,255.17 40,255.17 7.00%
Simple interest 135,000.00 35,000.00 7.00%

The same rate pays more when the interest is added more often, because each addition starts earning interest of its own. The effective annual yield is the single yearly rate that would give the same result as the compounding you chose, so it is the figure to compare when two banks quote the same rate with different compounding.

Things to check before you open a deposit

  • Compounding: ask the bank how often the interest is added. Many banks compound quarterly, some pay out interest instead of reinvesting it, which behaves like simple interest.
  • Tenure: a partial year is treated as a fraction of a year. A tenure of 1 year, 6 months works out as 1.5 years.
  • Tax and penalties: this calculator shows the interest before any tax deducted at source and does not model a penalty for withdrawing early. Both depend on your country and bank, so check them in the deposit terms.
  • Inflation: if prices rise faster than the effective yield, the deposit gains in amount but loses in buying power.

Frequently Asked Questions

With compounding, the maturity amount is the deposit multiplied by (1 + rate / n) raised to the power n times the tenure in years, where n is how many times a year interest is added. With simple interest it is the deposit multiplied by (1 + rate × tenure). The calculator applies the formula you pick on the tenure page.

Choose the one in your deposit terms. If the bank adds interest every quarter, pick quarterly. If it pays interest out to you regularly instead of keeping it in the deposit, simple interest gives the closest estimate.

Type 18 in the months field, or 400 in the days field, and leave the other fields empty. You can also mix them, for example 2 years and 3 months. The total tenure can be anything from one day up to 50 years.

No. The figures are the gross interest on the deposit held to maturity. Tax on interest and early withdrawal charges vary by country and bank, so subtract them using the terms of your own deposit.

No. The amount, rate and tenure you type are sent to our server to work out the result, and they are added to the page link as you move between steps so a calculation can be bookmarked or shared. They are not saved to any account or profile.

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