Fixed deposit (FD) calculator

Q: Which formula does the fixed deposit (FD) calculator use?

Maturity = P × (1 + R ÷ c)^(c × years) The explanation below the calculator sets out each step and what the result leaves out.

Interest and maturity amount of a fixed deposit at the rate the bank offers you, compounded or paid out.

How the interest is worked out

Maturity = P × (1 + R ÷ c)^(number of compounding periods)

R is the yearly rate as a decimal and c the number of compounding periods a year. Months left over after the last full period earn simple interest. If interest is paid out every month or quarter, each payout is P × R ÷ payouts a year and the deposit itself is returned at maturity.

Banks differ in how they compound, count days and pay monthly interest (some pay a discounted monthly amount). Use the rate and terms of your bank's offer; the result is not a bank's offer. Tax on interest is not included.

This is an illustration from the rate you assume. It is not an offer, a forecast or investment advice, and it does not promise any return. The bank, post office or fund's own terms decide the actual amount.

Frequently asked questions

Which formula does the fixed deposit (FD) calculator use?

Maturity = P × (1 + R ÷ c)^(c × years)
The explanation below the calculator sets out each step and what the result leaves out.

What details do I need for the fixed deposit (FD) calculator?

You need: deposit, interest rate and tenure.

Are these returns guaranteed?

No. The result uses the rate you assume and keeps it the same for the whole period. Market-linked returns change from year to year, and banks, post offices and funds apply their own rates and terms. Finobazaar does not fill in a product's rate unless a verified official rate is recorded, and then says so.