FD guide for a ₹1,24,000 deposit
Here the focus is a one-time ₹1,24,000 fixed deposit for 5 years at 7% p.a. with quarterly compounding—about ₹1,75,432 at maturity and ₹51,432 in estimated interest on your principal.
Banks quote different slabs and senior-citizen rates; use the FD calculator to model other principals, tenures, and rates with instant updates.
What is the FD calculator?
The fixed deposit (FD) calculator estimates the maturity amount on a one-time bank or NBFC deposit. You lock in a lump sum for a chosen tenure at a stated annual interest rate; the tool shows invested amount, interest earned, and total value at maturity.
FDs typically offer higher rates than savings accounts with a fixed lock-in period ranging from 7 days to 10 years. Actual rates vary by bank, tenure slab, and customer category (regular vs senior citizen).
A ₹1,24,000 FD for 5 years at 7% p.a. (quarterly compounding) is estimated at about ₹1,75,432, with roughly ₹51,432 in interest on ₹1,24,000 principal. Compare other principals on the FD calculator.
How can a FD calculator help you?
Manual FD maturity calculations involve compounding frequency and tenure conversions. A FD calculator gives you accurate figures instantly for comparison across banks and tenures.
- Estimate maturity value before opening an FD.
- Compare interest earned at different rates and tenures.
- Plan lump-sum goals alongside recurring options like the RD calculator.
How does this FD calculator work?
This tool uses quarterly compounding—the method most Indian banks apply to fixed deposits. Interest is added every quarter on the accumulated balance.
M = P × (1 + r/4)^(4t)
Where –
| M | Maturity amount |
|---|---|
| P | Principal (total investment) |
| r | Annual interest rate as a decimal (rate ÷ 100) |
| t | Tenure in years |
Example: ₹1,00,000 at 7% p.a. for 5 years → M ≈ ₹1,41,478
Worked example
Deposit ₹1,00,000 in an FD at 7% p.a. for 5 years with quarterly compounding. Maturity is about ₹1,41,478—roughly ₹41,478 in interest over the lock-in.
At ₹5,00,000 with the same rate and tenure, maturity is roughly ₹7,07,389 with about ₹2,07,389 in interest.
For a ₹1,24,000 deposit over 5 years at 7% p.a., this page’s defaults imply about ₹1,75,432 maturity and ₹51,432 in estimated interest.
How to use this FD calculator
Enter total investment, rate of interest (p.a.), and time period in years. Results update as you adjust sliders or type values.
For monthly deposits instead of a lump sum, use the recurring deposit calculator.
What this calculator does not include
TDS on interest, penalty for premature withdrawal, senior-citizen rate premiums, and special scheme rules are not modeled. Rates are assumed constant for the full tenure.
Frequently asked questions
Is FD interest compounded quarterly?
Most Indian banks compound FD interest quarterly. This calculator uses that convention. Some institutions may use different frequencies—check your deposit receipt.
What is the difference between FD and RD?
An FD is a one-time lump-sum deposit. An RD requires a fixed monthly installment for the entire tenure.
Are FD returns guaranteed?
Bank FDs up to ₹5 lakh per bank are insured by DICGC. Returns depend on the contracted rate; this tool shows estimates based on your inputs.
Common questions about a ₹1,24,000 FD
What is the maturity on a ₹1,24,000 FD for 5 years at 7%?
With quarterly compounding at 7% p.a., a ₹1,24,000 deposit for 5 years is estimated at about ₹1,75,432, including roughly ₹51,432 in interest. Your bank’s actual rate may differ.
How is interest calculated on a ₹1,24,000 fixed deposit?
Most Indian bank FDs compound quarterly. This page’s ₹1,24,000 example uses that method over 5 years. Premature withdrawal penalties and TDS are not included.
Should I use this page or the main FD calculator?
Use this page when you searched for a ₹1,24,000 deposit and want a ready-made estimate plus context. Use the FD calculator (/calculators/fd-calculator/) to compare other principals, tenures, and rates interactively.