Fixed Deposit Calculator
Calculate your FD maturity amount with different compounding frequencies and convert to other currencies.
Year-by-Year Growth
| Year | Interest Earned | Balance |
|---|---|---|
| 1 | ₹7,185.90 | ₹107,185.90 |
| 2 | ₹14,888.18 | ₹114,888.18 |
| 3 | ₹23,143.93 | ₹123,143.93 |
| 4 | ₹31,992.94 | ₹131,992.94 |
| 5 | ₹41,477.82 | ₹141,477.82 |
FD Maturity in Other Currencies
What is a Fixed Deposit?
A Fixed Deposit (FD) is a financial instrument offered by banks where you deposit a lump sum for a fixed period at a predetermined interest rate. FDs are one of the safest investment options and are ideal for conservative investors seeking guaranteed returns.
Compounding Frequency Matters
The compounding frequency significantly impacts your returns. Monthly compounding yields more than quarterly, which yields more than annual compounding. Most Indian banks use quarterly compounding for FDs. The formula is: A = P(1 + r/n)^(nt), where n is the compounding frequency per year.
Tax on FD Interest
Interest earned on FDs is fully taxable as per your income tax slab. If interest exceeds a certain threshold in a financial year, the bank deducts TDS (Tax Deducted at Source). Consider tax-saving FDs with a 5-year lock-in for Section 80C deduction benefits.