| Year | Interest ($) | Ending ($) |
|---|---|---|
| {{ r.year }} | {{ format(r.interestCum) }} | {{ format(r.ending) }} |
| Month | Interest ($) | Ending ($) |
|---|---|---|
| {{ r.period }} | {{ format(r.interestCum) }} | {{ format(r.ending) }} |
Fixed deposits—also called time deposits—lock a lump sum in an interest-bearing account for a preset term. Because the bank compounds interest at stated intervals and early withdrawals attract penalties, fixed deposits appeal to savers prioritising stable growth over ready liquidity. National deposit-insurance schemes further enhance perceived safety.
This calculator lets you project the maturity value of a single fixed deposit. Input principal, nominal annual rate, tenure, and compounding frequency, then optionally account for withholding tax and expected inflation. The reactive engine recomputes schedules instantly and visualises balances with an interactive charting layer.
Use it to compare banks, align maturities with life goals, or test inflation scenarios. Figures are illustrative and assume rates remain constant for the entire term.
Compound interest grows capital geometrically because each period’s interest joins the principal base. The effective annual yield therefore rises with compounding frequency. Tax on interest reduces the net addition, while inflation erodes purchasing power; adjusting the nominal maturity by consumer-price inflation converts the result into “real” terms. The calculator models discrete monthly time steps so any frequency—including semi-annual or quarterly periods—fits within one loop.
| Symbol | Meaning | Unit | Typical Range | Sensitivity |
|---|---|---|---|---|
| P | Principal | Currency | $1 000 – $1 000 000 | High |
| r | Nominal annual rate | % / yr | 0.5 – 12 | High |
| n | Compounding periods per year | count | 1 – 12 | Medium |
| t | Tenure | years | 0.25 – 10 | High |
| τ | Tax rate on interest | % | 0 – 40 | Medium |
| π | Inflation rate | % / yr | 0 – 10 | Medium |
Scenario: P = $10 000, r = 4 %, n = 4 (quarterly), t = 3 years, τ = 0 %, π = 0 %.
Maturity equals $11 268.25, implying $1 268.25 of gross interest.
The algorithm iterates once per month, yielding O(months) time complexity and negligible memory overhead. All calculations execute client-side in double-precision IEEE-754 floats; for tenures under 30 years the rounding error stays below one cent. The charting layer re-renders on resize events but frees resources when tabs change to conserve GPU memory.
Follow this flow to model a deposit accurately: