# Fixed Deposit Calculator — Maturity Value and Interest

> Work out what a fixed deposit matures to, with quarterly compounding and TDS accounted for.

A fixed deposit maturity value is principal × (1 + r/n)^(n×t), where n is the number of compounding periods a year — quarterly for most Indian banks. ₹1,00,000 at 7.1% for five years matures to about ₹1,42,300. The effective yield is higher than the quoted rate because interest compounds four times a year rather than once.

**URL:** https://convertto.tech/t/fd-calculator
**Category:** Calculators (https://convertto.tech/c/calculators)
**Privacy:** Runs entirely in the browser; no upload
**Cost:** Free, no sign-up
**Last updated:** 2026-08-01

## Key facts

- **Formula:** A = P(1 + r/n)^(nt) — quarterly compounding is the Indian bank default
- **Tax:** FD interest is taxed at your slab rate, not at a flat capital gains rate
- **Privacy:** Runs entirely in your browser — nothing is uploaded
- **Cost:** Free, unlimited, no sign-up

## How to use

1. Set the deposit amount.
2. Set the interest rate.
3. Set the years.
4. Set the additional months.
5. Choose the compounding.
6. Set the your income tax slab.
7. Choose the currency.
8. The result appears immediately — copy or download it.

## FAQ

### Why is my maturity value higher than principal plus simple interest?

Because interest compounds. At 7.1% quarterly, each quarter's interest earns interest itself, so the effective annual yield is about 7.29% rather than 7.1%. Over five years on ₹1,00,000 that difference is roughly ₹7,000.

### How is TDS deducted on a fixed deposit?

Banks deduct 10% TDS once interest crosses ₹40,000 in a financial year — ₹50,000 for senior citizens — but TDS is not the final tax. FD interest is added to your income and taxed at your slab, so someone in the 30% bracket owes another 20% at filing. Setting your slab above shows the real post-tax figure.

### Is a fixed deposit better than a recurring deposit?

For the same rate and term, a lump-sum FD earns more, because the whole amount is invested from day one while an RD builds up monthly. An RD wins when you do not have the lump sum — comparing them on returns alone misses that they answer different questions.

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