CA Srikant Agarwal

CA Srikant AgarwalUnder the Income Tax provisions we are required to pay tax on interest amount of Fixed deposits with Banks and other financial institutions.

For knowing the interest accrued for a period (say a financial year) on FDs (Fixed Deposits) most of the people rely on the interest certificate issued by the banks or on 26AS statement available from Income Tax site, which is generally available at the end of year and many a times is not readily available for many reasons like banks has not submitted interest details in their TDS return, many follow up with the bank is required for obtaining interest certificate and all.

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Online interest calculators are available but none of them provide interest on financial year wise. They generally provide interest for the whole period of investment or interest break up for the different years which does not coincide with financial year (or previous year) applicable for the purpose of Income Tax return filing.

In this utility function we have incorporated features of calculating interest on Financial Year wise which will help the users to determine the amount of interest and to prepare their financial statements accordingly.

It may be noted that maturity amount and Interest amount calculated by using this utility may be insignificantly different from actual maturity amount and interest given by banks and financial institutions because of rounding off error.

Hope users will find this utility very user friendly.

Download Financial year wise Interest Calculator on FDs (Fixed Deposits)

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17 responses to “Financial year wise Interest Calculator on FDs (Fixed Deposits)”

  1. sattt says:

    File is not working. Its not displaying any data after giving required data also..

  2. Bhupinder Singh says:

    File is protected. Do not open without password. kindly give password

  3. john says:

    Could you please unpretect the excel sheet. Because i want to change it for my need. Currently your excel file calculates only for simple interest. I want it for compound interest. Do you have the same for compound interest? When you see this message please send me a mail. I have an idea to improve this excel and want it to share it with you. Thanks

    • john says:

      Sorry your excel sheet has compund interest data as well. Its my bad. I faced an issue if we enter the start date of FD as 10 feb 2016 and maturity date as 10 feb 2017 then it calculates for 366 days but actual FD is calculated for 365 days. Because I checked it with the actual FD maturity amount calculated by bank for the same period. that maturity amount calculated is of 365 days but this excel file is calculating for 366 days. Could you please look in to that

  4. Bhaskar says:

    Not working, perhaps you haven’t entered any formula, thats why its not working. Because once we click on a cell the formula should reflect on the formula bar, but there is nothing. Update it or explain the formula.

  5. Rohit S says:

    I tried using your calculator to get FD interest by FY, but the excel does not calculate any interest. I have included the screen shot below.

    Appreciate if you could tell me how to use this calculator. Thanks for your help. Rohit

  6. Rahul Chopra says:

    This utility is very helpful but once we enter the dates in the respective columns, the output shows error. (As image attached by ankur shah). Kindly update the file or provide with the possible solution.

  7. Ankur Shah says:

    Still not able to use this calculator. Just change date to 12 (from inserted date of 31), result would show error. Also see the error as attached. Kindly update the file.

  8. Ramakant Tiwari says:


    • Srikant Agarwal says:

      May be if you are changing the format of date through control panel to MM/DD/YYYY format then it should work.

  9. Ramachandran Venkataraman says:

    yes it works if the deposit date is in between. thanks very useful. Mr P.N.Rao I do not think there is any macros. This is xlsx file so simple excel file with formulas. Mr. Agarwal please confirm

  10. Ramachandran Venkataraman says:

    does it work if the date of deposit is not at the end of the year but somewhere between.

  11. P N Rao says:

    The file is not working for if we change the month or date or year of deposit or maturity. May be the macros got locked. May please update, it is a useful tool for many as assumed by author for non updation of records by Banks CA P N Rao

  12. Pratikkumar Shah says:

    It’s not working

  13. Ankur Shah says:

    Year-wise figure of interest is not showing. Kindly update the same.

  14. Bharat Patel says:

    Pl enlighten with the procedure/step to derive the result. We could fill the data in upper table which has shown the result of maturity amount but doesn’t reflect the interest amount of financial year. Please guide us.

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