Free calculators and unit converters for general and everyday use.
Our online tools will provide quick answers to your calculation and conversion needs. On this page, you can calculate interest and maturity value of both cumulative fixed deposits (FD) and FDs with periodic interest payouts.
To solve for other variables involved in fd calculation, viz., investment amount, interest rate and tenure, use our compound interest calculator.
FD interest calculation is based on the compound interest formula for periodic compounding:
A = P(1+r/n)⌊nt⌋
A = FD maturity amount
P = Principal amount (Initial Investment)
t = Total time in years
n = Number of compounding periods per year
r = Nominal annual interest rate
⌊nt⌋ means that nt is rounded down to the nearest integer.
Cumulative FDs in banks are compounded quarterly. You can also use this calculator with other fixed deposit schemes with interest compounded monthly, half-yearly or yearly.
Interest calculation differs for fixed deposits where the interest is paid out periodically. For quarterly payouts, interest is based on simple interest. For monthly payouts, also know as monthly income scheme (MIS), interest is paid at a discounted value.