What is a fixed deposit?

A fixed deposit (FD), also called a term deposit, is a savings product where you lock in a sum of money for a fixed period at a fixed interest rate. The bank pays interest, usually compounded at intervals, and returns the principal at maturity.

How is the maturity value calculated?

Maturity = Principal × (1 + r/n)^(n×t), where r is the annual rate, n is the number of compounding periods per year, and t is the term in years. Monthly compounding is the most common for term deposits.

What is the effective annual rate?

The effective annual rate (EAR) is the actual return over one year after accounting for compounding within the year. A higher compounding frequency gives a higher EAR for the same nominal rate.

Is my data sent to any server?

No. Everything runs 100% locally in your browser. Your deposit figures never leave your device.

What happens if I withdraw early?

Most banks charge a penalty — typically 0.5–1% off the applicable rate — and may also reduce the effective rate to the one for the shorter period the money actually stayed. Early withdrawal can wipe out a large portion of the interest earned.

Are fixed deposits safer than stocks?

Yes for nominal value — deposits are insured up to a limit in most countries (FDIC in the US, DICGC in India, FSCS in the UK). But returns often barely beat inflation, so the real (after-inflation) return can be low or even negative.

Fixed Deposit Calculator

Calculate the maturity value and interest earned on a fixed deposit or term deposit. Choose any compounding frequency — monthly, quarterly, semiannually, annually or daily — and see the effective annual rate.

How to use

Enter the deposit amount

Type the principal you are locking into the deposit.

Set the annual rate

Enter the interest rate as a percentage.

Choose the term

Enter the deposit term in years.

Select compounding frequency

Pick how often interest is compounded: monthly, quarterly, semiannually, annually or daily.

Read the maturity value

See the final amount, interest earned and effective annual rate.

Features

Five compounding frequencies

Monthly, quarterly, semiannually, annually and daily — see how each affects the return.

Interest earned breakdown

Separates the principal from the interest it generates.

Effective annual rate (EAR)

Shows the true annual return after accounting for compounding.

Number of compounding periods

See how many times interest is applied over the full term.

Works for any currency

Enter amounts in any currency — the math is identical.

Common use cases

Compare fixed deposit offers from different banks
See how compounding frequency affects the return
Calculate the maturity value of a term deposit
Project interest income for tax planning

Frequently Asked Questions

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