Free Fixed Deposit Calculator
Find the maturity amount and interest on a fixed deposit, term deposit or certificate of deposit. Compare compounding options, interest payouts and tax deducted on interest.
Fixed Deposit Calculator: Find the maturity amount and interest on a fixed deposit, term deposit or certificate of deposit. Compare compounding options, interest payouts and tax deducted on interest. It is free, needs no sign-up and runs in your browser. How to use it: 1) enter the deposit amount, yearly rate and term in years, months and days; 2) pick reinvest (cumulative) or a monthly, quarterly, half-yearly or yearly payout, and the compounding your bank uses; 3) add the tax rate on interest if any, then read the maturity, APY and year-by-year table. A fixed deposit, also called a term deposit or certificate of deposit (CD), pays a fixed rate for a set term. With a cumulative deposit the interest is added to the balance and earns more interest, so how often it compounds matters.
How the fixed deposit calculator works
A fixed deposit, also called a term deposit or certificate of deposit (CD), pays a fixed rate for a set term. With a cumulative deposit the interest is added to the balance and earns more interest, so how often it compounds matters. With a payout deposit the bank pays the interest to you each month, quarter, half year or year, so the balance stays the same.
Formulas
- Cumulative maturity:
A = P x (1 + r/n)^(n x t), where n is compounding periods a year (12, 4, 2 or 1) and t the term in years. - A broken last period earns simple interest:
x (1 + r/n x fraction). - At maturity (no compounding):
A = P x (1 + r x t) - APY:
(1 + r/n)^n - 1 - Payout per period:
P x r / payouts a year - Tax:
interest x tax rate
Example: 100,000 at 7% compounded quarterly for 5 years grows to 141,477.82. The APY is 7.186%.
Tax on interest
Enter a withholding rate, such as TDS in India or WHT in Pakistan, to see interest and maturity after tax. The tool deducts tax from the interest earned. Some banks deduct it every year, which lowers compounding slightly.
Limitations
Rates and tax rates are what you enter, not live bank or government rates. Banks round, count days and treat broken periods in their own way, so small differences are normal. Early withdrawal penalties are not included. This is not financial or tax advice, so check the final figures with your bank or accountant.
Fixed Deposit Calculator FAQs
How is fixed deposit maturity calculated?
For a cumulative deposit the maturity amount is P x (1 + r/n)^(n x t). P is the deposit, r the yearly rate as a decimal, n how many times a year interest compounds and t the term in years. For example, 100,000 at 7% compounded quarterly for 5 years becomes about 141,478. Payout deposits return only the principal at maturity.
What is the difference between APY and the interest rate?
The interest rate is the yearly rate before compounding. APY, the annual percentage yield, shows what you really earn in a year once interest is added to the balance. A 7% rate compounded quarterly gives an APY of about 7.19%. Use APY to compare deposits that compound at different frequencies.
Does monthly compounding earn more than quarterly?
Yes, slightly. More frequent compounding adds interest to the balance sooner, so it starts earning interest earlier. At 7% for 5 years on 100,000, monthly compounding gives about 141,763 and quarterly about 141,478. The difference grows with higher rates and longer terms, but it is usually small compared to the rate itself.
How is tax on fixed deposit interest handled?
Enter your tax rate in the tax deducted on interest field. The calculator multiplies the interest earned by that rate and shows the tax, the interest after tax and the maturity after tax. Tax rules differ by country and by your tax status, so confirm the correct rate with your bank or tax adviser.
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