Fixed Deposit Calculator

According to RBI, your deposit is secured upto Rs 5 Lakhs by Deposit Insurance and Credit Guarantee Corporation (DICGC)

A Fixed Deposit (FD) calculator is a tool that helps individuals estimate the interest earned and the maturity amount for a fixed deposit investment. The formula for calculating interest on fixed deposits is straightforward, but a calculator simplifies the process. Here’s a simplified explanation of the calculation, and you can use these steps in a calculator:

Fixed Deposit Interest Calculation Formula:

The formula to calculate interest on a fixed deposit is:

Interest = (P×r×t)/100​


  • P is the principal amount (initial deposit),
  • r is the annual interest rate (as a decimal),
  • t is the tenure in years.

Maturity Amount Calculation:

The maturity amount is calculated by adding the interest earned to the principal:

Maturity Amount = P+Interest

Steps to Use FD Calculator:

  1. Enter Principal Amount (P):
    • Input the initial deposit or principal amount.
  2. Enter Annual Interest Rate (r):
    • Input the annual interest rate offered by the bank or financial institution.
  3. Enter Tenure (t):
    • Input the tenure or duration for which the fixed deposit will be held in years.
  4. Calculate Interest:
    • Use the formula to calculate the interest earned.
  5. Calculate Maturity Amount:
    • Add the interest to the principal to get the maturity amount.


Let’s assume you invest ₹100,000 in a fixed deposit with an annual interest rate of 5% for 3 years.

P = ₹100,000, Rate of Interest =0.05, Time = 3 years


Maturity Amount=₹100,000+₹15,000=₹115,000

More information regarding RBI, DICGC

Similar Posts

Leave a Reply

Your email address will not be published. Required fields are marked *