Fixed Deposit Calculator
Enter your deposit, interest rate, and term to see what your fixed deposit, term deposit, or certificate of deposit will be worth at maturity, and how it grows each year.
Overview
A fixed deposit locks away a sum at a guaranteed rate for a set term. Depending on where you bank, it may be called a fixed deposit (FD), a term deposit, a time deposit, a fixed-rate bond, or a certificate of deposit (CD). What you get back depends not just on the rate but on how often interest is compounded: a 5% rate compounded monthly actually yields about 5.12% a year.
Banks compound at different frequencies. Many US banks compound CDs daily or monthly, UK and European fixed-rate accounts often pay interest yearly, and banks in India compound fixed deposits quarterly. This calculator supports all of these. Interest compounds for each whole period, and any leftover part period earns simple interest, which is how banks usually handle terms that don't divide evenly.
Choose Simple for deposits that pay interest out monthly or quarterly instead of reinvesting it. Results show the maturity value, the total interest, the effective annual yield (APY) so you can compare offers with different compounding, and the balance at the end of each year, in the currency you choose.
Examples & Sample Data
Three-year CD
$10,000 at 5% for 3 years, compounded monthly
Maturity $11,615, interest $1,615, effective annual yield 5.12%
18-month fixed-rate bond
€5,000 at 3% for 1 year 6 months, compounded yearly
Maturity €5,227, interest €227
Five-year FD with quarterly compounding
₹1,00,000 at 7% for 5 years, compounded quarterly
Maturity ₹1,41,478, effective annual yield 7.19%
How It Works
- Enter the amount you plan to deposit, and pick its currency.
- Enter the bank's annual interest rate and the term in years and months.
- Choose how often interest is compounded, as stated in the account's terms.
- The maturity value, interest earned, effective yield, and yearly schedule update as you type.
Common Use Cases
Comparing deposit offers
See the real difference between banks' rates, including offers that compound at different frequencies.
Planning for a known expense
Work out how much to deposit today to have a target amount ready for fees, a purchase, or an emergency fund.
Choosing cumulative or payout
Compare a deposit that reinvests interest with one that pays it out, to see how much compounding adds.
Tips & Best Practices
- Compare offers by their effective annual yield (APY or AER), not the headline rate, when compounding frequencies differ.
- Check the penalty for withdrawing early. Breaking a deposit usually means a lower rate or lost interest.
- Interest is taxable in most countries, and some banks withhold tax automatically. For monthly savings rather than a lump sum, use the Recurring Deposit Calculator.
Frequently Asked Questions
For compounding deposits, maturity = P × (1 + r/n)^(n × t), where P is the deposit, r the annual rate, n the number of compounding periods per year, and t the term in years. Any part period at the end earns simple interest, which this calculator applies too.
The yearly return after compounding, also called APY in the US or AER in the UK. A 5% rate compounded monthly grows your money by about 5.12% a year, so the effective yield is 5.12%.
They work the same way: you deposit a lump sum for a fixed term at a fixed rate. The names differ by country, as do the typical compounding frequency and early-withdrawal rules.
It should be very close. Small differences can come from how a bank counts days, rounds interest each period, or handles a part period at the end.
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