What would be the journal entry for accrued interest on bank fixed deposits?

Debit Interest Reveivable
Credit Interest Revenue

Sample:
I have an amount in terms deposit (principal), and I get interest on it, but I decide to roll over the interest.

What I would do is to accrued the interest in an account call Prepayments (Liability account) and I credit an account of Income. This way I will show the interest accrued for the month, but not received yet (because we roll over it.)
When I decide to actual receive the interest into my bank account I will need to debit my bank account (asset), offset my Prepayment Account (liability).

See my previous post to acrue interest.

To record the insterest received your journal entry will be:
Debit Cash for the amount of interest received
Credit Interest Receivable (for acrued interest) or Interest Revenue (if interest was not acrued) for the amount of interest received.