FD Calculator

Most online FD calculators use one textbook formula, A = P × (1 + r/4)^(4t), for any tenure. That is right for whole years but not for the odd tenures banks actually sell, such as 444 days or 2 years 5 months. Banks follow the method in RBI's rules and the Indian Banks' Association code: they compound interest for each completed quarter, counted date to date from the day you open the deposit, and pay simple interest for the days left over on a 365 day year. SBI prints this on its deposit rates page. This calculator does exactly that, so the answer matches the bank's receipt to the rupee in normal cases.

A worked example. ₹1,00,000 at 7.1% for 2 years from 1 Nov 2026 compounds for 8 quarters, 1,00,000 × (1 + 0.071 ÷ 4)^8, and matures at ₹1,15,114 on 1 Nov 2028, so the interest is ₹15,114 and the effective yield is 7.28% a year. For 444 days from the same date the deposit gets 4 full quarters and then 79 days of simple interest on the grown amount, and matures at ₹1,08,940 on 19 Jan 2028.

Deposits under 6 months work differently. SBI, Axis Bank and UCO Bank, among others, pay simple interest on them for the actual number of days, so the calculator switches to simple interest below 6 months and says so in the result. RBI's rules set 7 days as the shortest term deposit, so shorter tenures are refused.

If you need a regular income, pick quarterly or monthly payout. Quarterly payout is simple: ₹1,00,000 at 7.1% pays ₹1,775 every quarter. For monthly payout most banks pay the discounted value of the quarterly interest, which comes to ₹588 a month here rather than 7.1% ÷ 12 = ₹592, because you get the money earlier. The result shows both figures so you can check which one your bank uses. With a payout option, your deposit comes back unchanged at maturity.

The TDS check compares the interest in the first year with the limit in section 393 of the Income-tax Act, 2025: ₹50,000 a year from one bank, post office or co-operative bank, or ₹1,00,000 for senior citizens. Above that the bank deducts TDS, usually 10% if it has your PAN. The bank adds up interest from all your deposits with it, so treat the check as a guide. Interest is taxable in your return whether or not TDS is cut.

Your deposit amount, rate and dates stay in your browser tab. TaskNinja does not receive, save or log them, there is no sign-in, and the calculator keeps working if your connection drops after the page loads. We only count anonymous events, such as the calculator being used, never the numbers you type.

This is an estimate, not an offer. Rates change often and differ by bank, tenure, amount and age, so type the rate printed on your bank's current rate card. The figure on your deposit receipt is final.