Pick simple, compound, or reducing-balance interest, set the compounding cadence, and get a clean period-by-period sheet showing how the interest accrues — defensible workings for FDs, penalties, savings, or any back-of-envelope verification.
01 — What you create
Principal, rate, and tenure — pick the method and you get the full period-by-period accrual, a yearly summary, and the maturity or final balance figure ready to share or verify.
INTEREST CALCULATION SHEET
FD Interest Workings — 2026
Marcus Vance · Compound interest · Quarterly
PRINCIPAL
INR 2,50,000
RATE
7.25% p.a.
TOTAL INT.
INR 1,09,234
MATURITY
INR 3,59,234
PERIOD-BY-PERIOD SCHEDULE
+ 14 more quarterly periods over 5-year tenure
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02 — How it works
Banks and lenders give you a single maturity number; this tool shows the path. Each period’s opening balance, accrued interest, cumulative interest, and closing balance — defensible numbers you can paste into a dispute, a tax filing, or a finance team review.
Simple, compound, or reducing balance. Each suits a different use case — accrual on principal, growth on growth, or amortising debt.
Annual, semi-annual, quarterly, monthly, or daily. The tool computes per-period rate, period dates, and total periods automatically.
PDF with summary cards, inputs block, yearly summary, full period table, and totals. XLSX has Summary, Schedule, and Yearly sheets — all numeric.
03 — Defensible workings
Simple (P × r × t), compound (P × (1+r/n)^(nt)), reducing-balance (EMI amortising principal). Pick by use case.
Annual, semi-annual, quarterly, monthly, daily. The per-period rate divides the annual rate by frequency — same way banks do it.
No need to pre-convert. Enter the tenure in whatever units the contract uses; the tool resolves to total periods automatically.
Set the EMI to 0 for reducing-balance and the tool computes the equated payment that fully amortises principal over the tenure.
On top of the period-by-period schedule, a yearly summary table shows interest accrued and year-end balance — useful for tax reporting.
PDF: summary cards, inputs, yearly summary, full period table, totals row. XLSX: Summary, Schedule, Yearly — all numeric for further analysis.
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04 — Common questions
Simple interest applies to most short-term loans, statutory late-payment interest, and a few savings products. Compound interest applies to fixed deposits, recurring savings, and most investment products. If you don't know, the contract or product brochure says — and the difference becomes large over longer tenures.
EMI Schedule and Loan Amortization are specifically for amortising loans with EMIs. This Interest Calculation Sheet is broader — it also handles simple accrual (penalties, statutory interest) and compound growth (FDs, savings) where there's no EMI involved. Reducing-balance method overlaps with EMI, but the focus here is on the interest workings, not the loan structure.
Set the compound frequency to "Daily". The schedule will have one row per day — handy for short-tenure verification, but expect a long table for multi-year savings. For long tenures, monthly or quarterly compounding usually gives a very close approximation.
Almost always within a few currency units. Differences come from how banks handle leap years, day-count conventions (actual/365 vs actual/360 vs 30/360), and rounding at each step. This tool uses 365-day year and standard rounding at each period — same as most retail bank calculators within ~0.1%.
Yes — use Simple interest with the rate from your contract (or the statutory rate, e.g. UK 8% over base) and tenure in days. The schedule shows daily accrual; the maturity value is the principal plus accumulated interest as at the end date.
PDF (single document with summary cards, inputs block, yearly summary, full period-by-period schedule with totals row, and notes — auto-paginated) and XLSX (3 sheets: Summary, Schedule, Yearly). All numeric — paste straight into a model.