Fixed Deposit Interest Calculator

Saving money in a fixed deposit is one of the safest ways to grow your wealth. A fixed deposit, also known as FD, offers guaranteed returns with a fixed interest rate. But many people often ask, “How much interest will I get on my fixed deposit?” or “How do I calculate FD returns correctly?”

That is why we developed this Fixed Deposit Interest Calculator. This free online tool helps you calculate your FD maturity amount and interest earnings in seconds. With our calculator, you do not need any complex math. Just enter your details and get accurate results instantly.

Whether you are planning short-term savings or long-term investment, this FD calculator makes financial planning simple and stress-free.

What Is a Fixed Deposit Interest Calculator?

A fixed deposit interest calculator is an online tool that helps you calculate the interest earned and maturity amount on your fixed deposit investment. It uses standard banking formulas to show how much money you will receive after the FD tenure ends.

Our FD calculator supports both simple interest and compound interest. It also allows you to select monthly, quarterly, or yearly compounding based on bank rules.

This tool is useful for students, professionals, retirees, and anyone who wants safe and predictable returns.

How Do You Calculate Fixed Deposit Interest?

Banks calculate fixed deposit interest using two main methods: simple interest and compound interest. Most modern banks use compound interest for FD schemes.

Simple Interest Formula

Interest = (Principal × Rate × Time) / 100

Maturity Amount = Principal + Interest

Here,

• Principal is the deposited amount,
• Rate is the annual interest rate,
• Time is the duration in years.

Compound Interest Formula (Most Common)

Maturity Amount = Principal × (1 + Rate / 100 ÷ n)^(n × Time)

Interest Earned = Maturity Amount − Principal

Here,

• Rate is divided by 100 to convert it into decimal form,
• n is the number of times interest is compounded per year.

These formulas are used by our calculator to provide accurate FD returns.

Fixed Deposit Interest Formula Explained Simply

To make it easier, here is how the FD formula works in real life.

When your bank compounds interest, it adds interest to your deposit regularly. Then, in the next period, interest is calculated on the new amount. This is called interest on interest.

The more frequently interest is compounded, the higher your final return.

For example, quarterly compounding gives more returns than yearly compounding.

Our FD calculator automatically applies the correct formula based on your selected compounding frequency.

How to Use the Online Fixed Deposit Interest Calculator

Using our fixed deposit interest calculator is very simple and takes less than one minute.

1. First, enter your deposit amount in the principal field.
2. Second, enter the annual FD interest rate.
3. Third, select the time period in years, months, or days.
4. Fourth, choose the interest type, either simple or compound.
5. Fifth, select the compounding frequency if required.
6. Finally, click the calculate button.

Within seconds, you will see your maturity amount and total interest earned.

No registration, no login, and no hidden charges are required.

Example Fixed Deposit Interest Calculation

Let us understand the calculation with real examples.

Example 1: How Much Interest Will I Get on a $10,000 Fixed Deposit?

Assume:

Principal = $10,000

Interest Rate = 6% per year

Time = 3 years

Compounding = Quarterly

Using compound formula:

Maturity Amount = 10000 × (1 + 0.06 ÷ 4)^(4 × 3)

Maturity Amount = 10000 × (1.015)^12

Maturity Amount ≈ $11,956

Interest Earned = $11,956 − $10,000

Interest Earned ≈ $1,956

So, you will earn about $1,956 in three years.

Example 2: What Is 5% Interest on $1000?

Principal = $1,000

Rate = 5%

Time = 1 year

Simple Interest

Interest = (1000 × 5 × 1) ÷ 100

Interest = $50

Maturity Amount = $1,050

So, 5% interest on $1,000 gives you $50 in one year.

Example 3: How Much to Invest in FD to Get $50,000 Per Month?

To earn $50,000 monthly, you need about $600,000 per year.

Assume FD rate = 7% annually.

Required Investment = 600,000 ÷ 0.07

Required Investment ≈ $8,571,428

So, you need around $8.57 million to earn $50,000 per month at 7% interest.

Our calculator can do this instantly for you.

FD Calculator Monthly Interest and Returns

Some banks pay monthly interest instead of cumulative returns. This is useful for retirees and passive income seekers.

Our FD calculator supports monthly interest calculation. It shows how much income you will receive every month based on your deposit and rate.

This feature helps you plan regular expenses easily.

Final Verdict

The Fixed Deposit Interest Calculator is a powerful and easy tool for anyone who wants to calculate FD returns accurately. It uses standard banking formulas, supports multiple compounding options, and gives instant results.

If you are planning to invest in fixed deposits, this calculator will help you compare schemes, estimate profits, and make better financial decisions.

Try it today and plan your savings with confidence.

FAQs

How accurate is this FD calculator?

Our calculator uses standard banking formulas and provides results that match most bank FD systems. Minor differences may occur due to rounding.

Can I calculate monthly FD income?

Yes, you can use this calculator to estimate monthly interest income from your fixed deposit.

Is this FD calculator free?

Yes, it is 100% free and does not require registration.

Does it support different currencies?

Yes, you can calculate FD interest in dollars, taka, rupees, and other currencies.

Which interest type is better, simple or compound?

Compound interest gives higher returns and is used by most banks. It is usually better for long-term investments.