Recurring deposit
See what a bank recurring deposit pays at maturity, with interest added every quarter.
Savings and loans
Fixed deposit calculator
See what a bank fixed deposit pays when it matures, with interest added on as it compounds.
% a year
Your bank sets this. Enter the rate on your deposit receipt or the bank's rate card.
years
Interest is added
Most Indian banks add interest every quarter.
In today’s money
Depositing ₹1,00,000 for 5 years at 7% a year, with interest added quarterly, grows to ₹1.41 lakh at maturity. The interest is ₹41,478.
- Amount deposited
- ₹1,00,000≈ ₹1 lakh
- Interest earned
- ₹41,478≈ ₹41,478 · 41% on the deposit
- Amount at maturity
- ₹1,41,478≈ ₹1.41 lakh · effective yearly yield 7.186%
Growth, year by year
Tap or hover the chart, or use the slider, to read any year.
- Value of the deposit
- Amount deposited
After 5 years
Value of the deposit
₹1,41,478
Amount deposited
₹1,00,000
Year-by-year table
| Year | Value of the deposit | Amount deposited |
|---|---|---|
| 0 | ₹1,00,000 | ₹1,00,000 |
| 1 | ₹1,07,186 | ₹1,00,000 |
| 2 | ₹1,14,888 | ₹1,00,000 |
| 3 | ₹1,23,144 | ₹1,00,000 |
| 4 | ₹1,31,993 | ₹1,00,000 |
| 5 | ₹1,41,478 | ₹1,00,000 |
Where the total comes from
Tap a segment to see its rupees.
Interest earned₹41,47829% of total
Of the ₹1,41,478 at maturity, ₹1,00,000 is the money you deposited and ₹41,478 is interest.
What this assumes
- The rate stays the same for the whole period and interest is left in the deposit until maturity.
- A part period at the end earns simple interest, the usual bank method.
- Tax on the interest (TDS or your own tax) and premature withdrawal penalties are not taken into account.
What next
PPF
Project the balance in a Public Provident Fund account over its 15-year term.Sukanya Samriddhi
Project the balance in a Sukanya Samriddhi account when it matures 21 years after opening.CAGR
Turn a starting value and an ending value into a smooth yearly growth rate.
How it works
There is no official fixed deposit rate. Each bank sets its own and changes it, so you type in the rate your bank offers. A fixed deposit adds interest to the money at set intervals, and the added interest then earns interest too. Banks in India usually add it every quarter (4 times a year), and you can pick another interval to compare.
Maturity = P x (1 + r ÷ n)^(n x t)
P is the deposit, r the yearly rate as a fraction (7% is 0.07), n how many times a year interest is added and t the years. If the period ends part-way through an interval, that last part earns simple interest.
A worked example
₹1,00,000 deposited for 5 years at 7% with interest added every quarter becomes ₹1,41,478 (₹1.41 lakh). The interest is ₹41,478. Because interest is added four times a year, the deposit really earns 7.186% a year, a little more than the 7% quoted.
Tax on the interest, for information
- A bank deducts tax at source (TDS, section 194A of the 1961 Act, section 393(1) of the Income-tax Act, 2025) at 10% when the interest it pays you in a year is more than ₹50,000, or ₹1,00,000 for a senior citizen. The limit applies to each bank, across all its branches.
- The rate is 20% if you have not given your PAN. Interest is part of your income whether or not tax was deducted. This page does not work out your tax.
What it leaves out
- Tax on the interest, including TDS.
- Penalty and lower interest for taking the money out before maturity.
- Rate changes during the deposit. The rate is fixed at the time you open it.
- Cumulative versus payout deposits. This is a cumulative deposit, where interest stays in.
Questions people ask
Which rate should I enter?
The rate printed on your deposit receipt or on your bank’s rate card for the period you want. Rates differ by bank, by period and often by age, and they change. This page does not know any bank’s rate.
What does interest compounded quarterly mean?
Every three months the interest earned so far is added to the deposit, and the next quarter’s interest is worked out on the larger amount. It earns slightly more than interest added once a year at the same quoted rate.
Why does the bank’s maturity figure differ by a few rupees?
Banks round interest each quarter, count days rather than months, and handle a part quarter in their own way. This page uses months, rounds only at the end and treats the last part-period as simple interest.
Will tax be deducted from my interest?
Banks deduct tax at source when the interest paid to you in a year goes above ₹50,000 (₹1,00,000 for senior citizens), per bank. Interest below that is still part of your income. Tax rules change, so check the current rules.
What if I break the deposit early?
Banks usually pay a lower rate and may charge a penalty on early withdrawal. The terms are in your deposit receipt. This page assumes the deposit runs to the end.