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FD calculator

Find the maturity value of a bank fixed deposit, the interest you earn, and whether the bank will deduct TDS.

₹

5 lakh

%

Check your bank's current card rate

Interest type
Senior citizen (60+)?

Maturity value

₹6,15,720

after 3 yr

  • Deposit 81%
  • Interest 19%
Amount deposited
₹5,00,000
Interest earned
₹1,15,720
Effective yearly yield
7.19%
Interest in the first year
₹35,930

No TDS expected from this FD alone: yearly interest stays under ₹50,000 per bank. Interest is still taxable in your return.

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How to use this FD calculator

Enter the deposit amount, the interest rate your bank offers and the tenure. Pick Cumulative (quarterly) for a regular FD where interest is reinvested — that is how SBI, HDFC, ICICI and most banks calculate it. Pick Simple / payout if the bank pays interest out every month or quarter.

What the result means

Maturity value is what the bank pays on the last day. The effective yearly yield is higher than the card rate because quarterly compounding earns interest on interest. First-year interest decides TDS: if it crosses the limit, the bank keeps 10% and shows it in your Form 26AS.

Short FDs

For tenures under six months, many banks pay simple interest at maturity. Use the simple option for those to match the bank's figure.

Questions

How is FD interest calculated in India?

Most banks compound cumulative FDs every quarter: maturity = P × (1 + r/4)^(4 × years). A ₹1,00,000 FD at 7% for 5 years grows to about ₹1,41,478. Payout FDs pay simple interest monthly or quarterly instead.

When does the bank deduct TDS on FD interest?

From FY 2025-26, banks deduct 10% TDS when your FD interest from that bank crosses ₹50,000 in a financial year, or ₹1,00,000 for senior citizens. Without a PAN on record the rate is 20%.

Can I avoid TDS on my FD?

If your total income is below the taxable limit, submit Form 15G (below 60) or Form 15H (60 and above) to the bank at the start of the year. TDS is not the final tax — FD interest is added to your income and taxed at your slab rate.

Is a senior citizen FD rate different?

Most banks add 0.25% to 0.50% for depositors aged 60 and above. Enter the senior rate your bank quotes in the interest-rate field.

Are FDs up to ₹5 lakh insured?

Yes. DICGC insures deposits up to ₹5 lakh per depositor per bank, covering principal and interest together.

Estimates for planning only — not tax, legal or investment advice. Rates and rules change; confirm with your bank, fund house or a chartered accountant before acting.