Calculates Fixed Deposit maturity amount instantly using the FD Calculator. This calculator help users make informed decisions for long-term investments and maximizing their returns.
FD Calculator
Get Higher, Secured Returns
How to Use the FD Calculator?
Enter FD Amount: Write the principal amount you want to deposit in your fixed deposit account.
Select Period: Enter the duration of the Fixed Deposit in years, this is the period for which you want to deposit money in the bank. Deposit for longer durations usually yield higher returns.
Choose Bank: Select your preferred bank in which you want to deposit your money from the dropdown menu (SBI, ICICI, HDFC, etc.). The tool automatically displays the latest interest rate for the selected bank.
Compounding Frequency: Choose how often the interest is compounded (Yearly, Half-Yearly, Quarterly, or Monthly). Many banks may offers limited options for compounding, mostly offers yearly compounding on fixed deposit schemes.
Calculate: Click on the Calculate button
Benefits of Using This FD Calculator
Calculates FD maturity amount instantly using the compounding formula. Easily compare interest rates across major banks to choose the best option available for fixed deposit. You can find bank interest rates by simply selecting the bank. Modify FD amount, tenure, and compounding frequency to understand potential returns. Saves the time by eliminating the need for manual calculations or visiting multiple bank websites. This Helps users make informed decisions for long-term investments, maximizing their returns.
Benefit and Limitations of Fixed Deposits
| Pros of Fixed Deposits | Cons of Fixed Deposits |
| Fixed deposits are considered as safe and stable | Fixed Deposit has low liquidity, hence the return on capital is limited |
| FD gives pre-predicted returns (e.g 7.5% p.a) | Low returns on deposit considering inflation rate on account, No exemption from TDS |
| It is suitable for conservative investors, salaried personal and middle income group | FDs are not considered suitable for long term wealth creation |
Safety: Guaranteed returns with no market risks.
Steady Growth: Suitable for risk-averse individuals seeking stable income.
Flexibility: Choose tenure and bank as per your financial goals.
Fixed Deposit Interest Rates (December 2024)
| Bank Name | Regular Rate | Senior Citizen Rate |
| State Bank of India (SBI) | 6.8% | 7.6% |
| Punjab National Bank (PNB) | 6.9% | 7.75% |
| Bank of Baroda (BOB) | 7.15% | 7.65% |
| Canara Bank | 7.25% | 7.75% |
| Union Bank of India | 7.4% | 7.9% |
| HDFC Bank | 7.4% | 7.9% |
| ICICI Bank | 7.25% | 7.8% |
| Axis Bank | 7.25% | 7.75% |
| Kotak Mahindra Bank | 7.4% | 7.9% |
| IDFC First Bank | 7.75% | 8.25% |
Senior citizens enjoy an additional 0.5% interest rate on most bank FDs. Rates may vary based on tenure.