Fixed Deposit Calculator

Contents

1 FD Calculator — Maturity Value & Total Interest

FD Calculator — Maturity Value & Total Interest

Calculate your Fixed Deposit maturity amount with quarterly, monthly, or annual compounding.

All Banks SupportedQuarterly CompoundingSenior Citizen Rate

Visual Breakdown

FD Maturity

Principal

Interest

FD Interest Rates in India (Indicative)

Bank Category	Regular FD (1-3 yr)	Senior Citizen (+0.5%)	Super Senior (+0.75%)
Public Sector (SBI, PNB, BoB)	6.5-7.0%	7.0-7.5%	7.25-7.75%
Major Private (HDFC, ICICI, Axis)	6.75-7.25%	7.25-7.75%	7.5-8.0%
Small Finance Banks (AU, Equitas, Ujjivan)	7.5-8.75%	8.0-9.25%	8.25-9.50%
Corporate FDs (Bajaj Finance, Mahindra)	7.5-8.5%	+0.25-0.50%	—
Special Tenures (5-year tax saver)	6.75-7.25%	+0.5%	+0.75%

Small Finance Banks offer the highest rates but are covered under DICGC ₹5L insurance — same as major banks. Spread FDs across multiple SFBs to stay within insurance limits.

FD Tax Treatment in India

Aspect	Detail
Interest Earned	Fully taxable at slab rate (5%/20%/30% based on income)
TDS	10% if annual interest > ₹40,000 (₹50,000 for senior citizens). 20% if no PAN provided.
Form 15G/H	Submit to avoid TDS if total income is below taxable limit. 15G for <60 years, 15H for seniors.
5-year Tax Saver FD	Up to ₹1.5L deductible under Section 80C (old regime). Lock-in 5 years; cannot premature.
Section 80TTB (Seniors)	Up to ₹50,000 interest income exempt for 60+ years.
Section 80TTA (Below 60)	₹10,000 deduction on savings account interest (NOT FD interest).

FD vs Other Fixed-Income Options

Instrument	Return	Tax	Liquidity	Risk
Bank FD	6-7%	Slab rate	Premature (penalty)	DICGC ₹5L
PPF	7.1%	Tax-free interest	15-year lock-in	Sovereign
Senior Citizen Saving Scheme	8.2%	Slab rate, 80TTB	5-year lock-in	Sovereign
Post Office MIS	7.4%	Slab rate	5-year lock-in	Sovereign
RBI Floating Rate Bonds	~7.4% (variable)	Slab rate	7-year lock-in	Sovereign
NSC	7.7%	Reinvested 80C eligible	5-year lock-in	Sovereign
Corporate Bonds (AAA)	7.5-8.5%	Slab rate	Listed; secondary market	Credit risk
Debt Mutual Funds	6.5-8%	Slab rate	Daily	Market risk

FD Worked Examples

Example 1: ₹5 Lakh FD, 5 Years, 7% Cumulative

Maturity = ₹5 × (1.07)^5 = ₹7.01 lakh. Interest earned = ₹2.01 lakh. Post-tax (30% slab): Interest ₹2.01L × 0.7 = ₹1.41L. Net maturity ≈ ₹6.41 lakh. Effective post-tax CAGR ≈ 5.1%.

Example 2: Senior Citizen ₹10 Lakh, 3 Years, 7.5%

Maturity = ₹10 × (1.075)^3 = ₹12.42 lakh. Interest earned = ₹2.42 lakh. Section 80TTB allows ₹50K exempt; balance ₹1.92L taxed at slab. Post-tax depends on overall income.

Example 3: Quarterly Compounding vs Annual

₹1L at 7% for 5 years. Annual compounding: ₹1.40L. Quarterly compounding: ₹1.41L. Monthly: ₹1.42L. Daily: ₹1.42L. Higher frequency adds ~₹1-2K on 5-year ₹1L FD.

Premature Withdrawal Penalty

Most banks charge 0.5-1% penalty on interest if you break the FD before maturity. Example: 1-year FD at 7%, broken at 6 months — interest paid at 6-month rate (say 6%) MINUS 1% penalty = 5%. The 7% promised rate doesn’t apply. Sweep-In FD: Linked to savings account. Excess balance auto-converts to FD; debit transactions auto-break FD. Best of both worlds — but interest rate often slightly lower than standalone FD.

More FAQs

Which is better: cumulative or non-cumulative FD?

Cumulative: Interest reinvested, paid at maturity. Higher overall return due to compounding. Best for wealth building. Non-cumulative: Monthly/quarterly/annual interest payout. Best for regular income (senior citizens, retirees).

Can I take loan against my FD?

Yes — Loan Against FD up to 85-90% of FD value at 1-2% above FD interest rate. Useful for short-term needs without breaking the FD.

What is auto-renewal?

FD automatically renewed at prevailing rate for same tenure unless you opt out. Convenient but rates may be lower at maturity than your original rate. Always review at maturity.

Is FD insured?

Yes, under DICGC up to ₹5 lakh per bank per depositor (principal + interest combined). For amounts above ₹5L, spread across multiple banks for full insurance coverage.

Are SFB FDs safe?

Small Finance Banks (AU, Equitas, Ujjivan, ESAF, etc.) are RBI-licensed and covered under DICGC ₹5L insurance — same as major banks. The higher rates compensate for slightly higher operational risk perception.

Should I submit Form 15G/H?

If your total annual income is below taxable threshold (₹3L senior, ₹2.5L others under old regime; ₹12L under new), submit Form 15G (under 60) or 15H (60+) to avoid TDS. Otherwise TDS gets deducted and you claim refund at year-end.

What if I withdraw FD before tax-year end?

Interest accrued till date is taxable in that financial year. TDS may be deducted on accrued interest even if you haven’t received it (in cumulative FDs with annual interest credit).

Explore More Tools