FD Calculator: Calculate Fixed Deposit Interest & Maturity Online

FD Calculator: Calculate Fixed Deposit Interest & Maturity Online

Many Indians don’t really like the risk factors that come with investing in stocks and mutual funds. But the interests gained from the savings account don’t make the cut either. So, most Indians choose the middle option and open a fixed deposit account to make more money while keeping their initial investments 100% safe. So, if you’re planning to open a fixed deposit, you should use a fixed deposit calculator to make the correct financial decisions. These calculators can give you accurate estimations regarding the maturity amount of your fixed deposit. This will help you compare FD offers from many banks while saving a lot of your time. In this article, we will show you what fixed deposit calculators are and how you can use them. Now let’s get to it.

What is a Fixed Deposit?

Before we talk about the FD calculator, let us explain what fixed deposit is in the first place. A fixed deposit or FD is a financial service that is provided by the majority of Indian banks and non-banking financial institutions. 

Every fixed deposit investment plan has a fixed duration and a stable and predetermined interest rate. No matter how much the financial market fluctuates, your fixed deposit account’s annual interest rate will stay the same. Plus, the duration of the fixed deposit can vary widely, ranging from 7 days to 10 years. 

Naturally, the longer the tenure of your fixed deposit investment is, the more money you will receive upon your FD account’s maturity, thanks to the compound interests earned against the initial investment.

What is an FD (Fixed Deposit) Calculator?

An online fixed deposit calculator will help you determine the maturity amount you will get once your FD investment hits the end of its tenure. The calculator will help you determine how much interest you can earn at the end of your fixed deposit account’s tenure with a few simple clicks. 

All you have to do is go to the online calculator web page, input the necessary data asked by the calculator, and hit the calculate button. You will get an accurate estimation of the maturity amount in a jiffy.

Please note that the estimations from the calculator can only be accurate if you provide it with the right data and you don’t take out your money prematurely. Most banks will charge you a penalty if you close your FD account before it matures.

How Can an FD Calculator Help You?

Calculating the maturity amount of your FD investment can be a pretty time-consuming process. And this is especially true if you are planning to compare FD offers from different banks. An FD maturity calculator can help you make the calculations faster without breaking a sweat. Here are a few ways this calculator can help you:

  • The calculation of a fixed deposit’s maturity involves multiple factors, which can be quite complicated. The fixed deposit calculator can make all the calculations for you at the click of a button, so you can focus on other important stuff.
  • Using this calculator can save a lot of your time.
  • As the calculator can make accurate estimates of the maturity amount, you can easily compare offers from different banks to make future investment plans.

How to Use a Fixed Deposit Calculator?

Most FD calculators online come with one of these two approaches – investment amount approach and target amount approach. Investment amount approach calculators will help you estimate how much money you can make for a fixed amount of investment upon the FD account matures. 

On the other hand, the target amount approach calculator can help you determine how much you need to invest in getting a certain maturity amount. Here, we will explain how to use both types of FD calculators.

Investment Amount Approach

The majority of the FD interest calculators fall into the investment amount approach category. Let us give you a walk-through on how to use the investment amount approach calculator.

  • First, you need to type the initial investment amount.
  • Next, select for how many years or months you want to keep the money in the FD account.
  • After that, type the yearly interest rate of the FD scheme offered by the banks.

Now, the calculator should show how much money you will be getting at the end of your FD investment’s maturity.

Target Amount Approach

Although it’s quite rare, some fixed deposit calculators in India also come with the target amount approach. Let us show you how to use this kind of calculator.

  • First, you need to type a target amount that you want to get at the end of the FD investment’s maturity.
  • After that, select a time period for maturity in months or years.
  • Finally, type the annual interest rate of the fixed deposit account.

And that’s it. Now, the calculator should show you the amount you need to invest to reach the target amount once your FD account matures.

The Formula Used in the FD Calculators

Nowadays, the majority of banks use compound interest formulas to calculate the maturity amount of an FD. So online FD calculators also use the compound interest formula to give you an accurate estimation.

Here’s the formula that is used by the calculators to evaluate your FD’s maturity amount:

MV (Maturity Value) = P * (1 + r/n) ^ (n * t)


P = Initial investment amount

r = The interest rate of the fixed deposit account in decimals. For example, if the annual interest rate is 10%, the value of r = 10/100 = 0.1

n = Number of compounding every year. In most cases, the interest compounds once every quarter, making the value of n equal to 4.

t = Tenure of the fixed deposit


FD is one of the safest and the most conservative investment options that is used by millions of Indian citizens. Your money safely stays in a bank account, and you receive compound interest on it every year, making FD an attractive investment option. With a fixed deposit calculator, you can easily compare different FD options from multiple banks to select the best offers. If you want to plan your FD investments accurately, using an online FD calculator is a great option.

Greg Stanley

Me Greg Stanley is the editor of the web tech mantra website. And I have ten-plus years of experience in the content marketing world. I gained the skills to present helpful content to all precious audience of the site. My only moto is to create trust and maintain quality, readability content to the people through the web tech mantra website.