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FD Calculator – Fixed Deposit Calculator

FD Calculator


FD Calculator with Tax


Fixed deposit (FD) is a type of term investment offered by several banks and NBFCs. These deposits typically offer a higher rate of interest, subject to certain terms and conditions. The amount you deposit in a FD is locked for a predetermined period which can vary between 7 days and 10 years.

The interest rate for FDs is fixed at the time of opening the deposit and independent to any fluctuations in the market. Some financial institutions even allow one to break their FDs prematurely on paying a certain penalty fee. An FD calculator can be used to determine the interest and the amount that it will accrue at the time of maturity. It is a simple-to-use tool available at the Groww website.

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How can an FD calculator help you?

Calculating the maturity amount of an FD can be a complicated and time-consuming process. An online FD calculator enables one to figure it without breaking a sweat.

  • FD maturity calculations are complex involving multiple variables. An FD deposit calculator does all the hard work and gives you the accurate figures just at the click of a button.
  • It helps you save a lot of time on these complex calculations.
  • A fixed deposit return calculator enables you to compare the maturity amount and interest rates of FDs offered by different financial institutions. You can make an informed decision when you have all the figures at your disposal.

The formula to determine FD maturity amount

There are two types of FD that you may avail- simple interest FD and compound interest FD. Groww has calculators for both these types of FD.

The fixed deposit calculator for simple interest FD uses the following formula –

M = P + (P x r x t/100), where –

  • P is the principal amount that you deposit
  • r is the rate of interest per annum
  • t is the tenure in years

For example, if you deposit a sum of Rs. 1,00,000 for 5 years at 10% interest, the equation reads –

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M= Rs. 1,00,000 + (1,00,000 x 10 x 5/100)

= Rs. 1,50,000

For compound interest FD, the FD return calculator uses the following formula –

M= P + P {(1 + i/100) t – 1}, where –

  • P is the principal amount
  • i is the rate of interest per period
  • t is the tenure

For example, if you take the same variables, the compound interest FD will accrue,

M= Rs. 1,00,000 {(1 + 10/100) 5-1}

Or, Rs. 1,61,051

How to use Groww’s FD calculator?

Follow the steps mentioned below to use a FD deposit calculator conveniently.

  • Ensure you have all the related data available with you.
  • Enter the variables as mentioned in the formula on their designated slots.
  • The FD maturity amount will be displayed instantly.

Advantages of using Groww FD calculator India

Know the exact amount you will receive at the time of FD maturity using the FD amount calculator.

There are several other advantages of using these calculators –

  • Get the exact amount you are eligible for at the end of your maturity period and plan your future accordingly.
  • Both of these calculators are free for unlimited use by registered users.
  • Compare the maturity amount of different financial institutions easily.

Besides the Fixed deposit calculator, you can easily plan your finances using the following calculators. All of our offerings are free to use and you can use them as frequently as you want.

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Frequently Asked Questions (FAQ)

Here are some common queries answered.

  • Is the FD calculator free to use?

Absolutely. You do not have to pay anything to use the calculators. All of our calculators are free.

  • How much time does it take to use the FD calculator?

It takes just a few seconds. 

  • What happens if the calculator malfunctions?

Groww ensures that none of our offerings malfunction. However, if you still face any issue, you can contact our customer representatives by clicking on the ‘Contact Us’ section.

  • How does the FD calculator help in future financial planning?

Once you know how much your Fixed Deposit will fetch you after the tenure ends, you can either choose to reinvest or withdraw the amount. 


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