Fixed Deposit Calculator
Fixed Deposit Returns Calculator
When you invest in Fixed Deposits (FDs), the amount you deposit earns interest based on the prevailing FD interest rate. The interest is calculated using either simple interest method (generally, for tenures less than 6 months) or compound interest method. Manually calculating such is taxing and may leave room for errors. With our FD returns calculator, you can effortlessly calculate your interest income and FD maturity amount.
FD Calculator
Min ₹1000
Max ₹2.99Cr
Investment Summary
Invested Amount
₹ 1,000
Interest Earned
₹10,126
Interest Per Quarter
Interest Per Month
Maturity Value*
₹90,126
( Interest rates are indicative and for calculation only. Interest may be subject to TDS recovery and maturity amount may vary due to TDS impact )
Features and Benefits of Ujjivan SFB FD Calculator
How to Use our Fixed Deposit Calculator?
Our online Fixed Deposit Calculator is extremely easy to use. All you need to do is enter the deposit amount and tenure. Choose whether you’re a regular citizen or a senior citizen – senior citizens are eligible for up to 0.50%* p.a. additional interest rate. Select the interest pay-out frequency – monthly, quarterly or at maturity. Based on the details, our calculator would show your interest income and the maturity amount.
FAQs
1. How is Fixed Deposit interest rate calculated?
For short-term FDs, usually less than 6 months, the interest is calculated using the simple interest method. The formula is - Principal x Rate of Interest x Tenure/100 or (P x R x T/100).
Where, P= Principal amount; R = Rate of interest per annum; T= No. of periods (in years).
For long-term deposits, the interest is calculated via the compound interest method. The method entails calculation of interest not only on the initial principal amount but also on the accumulated interest earned from previous periods.
Compound Interest (CI) = P {[(1 + i/100)^n] – 1}; Where, P = Principal amount; n = number of years; i = rate of interest per period.
2. How to calculate the interest on my savings account balance?
It depends which interest pay-out frequency you choose. The interest can be paid out, monthly, quarterly, annually or at maturity. Use our online FD calculator to check which frequency suits your financial goals.
3. What is the minimum FD tenure?
The minimum tenure could be as low as 7 days. However, for certain FDs the minimum tenure could be different based on the product. For instance, Tax Saver Fixed Deposits come with a lock-in period 5 years before which you cannot withdraw funds.
4. Is the interest earned on FD taxable?
Yes, the interest earned on FD is taxable under the Income Tax Act, 1961. The interest income is treated as ‘income from other sources’ and is subject to TDS (Tax Deducted at Source) as per prevailing rules.
5. How to reduce my FD tax liability?
You can submit a declaration under Section197A of the Income Tax Act in Form 15G (for regular citizens) or Form 15H (for senior citizens) to avoid TDS, subject to terms and conditions.
6. Can I claim tax benefits on FD investments?
Only Tax-Saver FDs allow you claim tax deduction up to ₹1.5 lakh under Section 80C of the Income Tax Act. However, such FDs have a lock-in period of 5 years.
