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FD Calculator

Calculate Fixed Deposit maturity amount and compare interest across different compounding frequencies

Principal Amount (₹)

Annual Interest Rate (%)

Tenure (Years)

3 yrs

Compounding Frequency

Investor Type

₹0

Principal

₹0

Interest Earned

₹0

Maturity Amount

Effective Yield

⚠️ FD interest is fully taxable as per your income slab. TDS of 10% is deducted if interest exceeds ₹40,000/year (₹50,000 for senior citizens). Submit Form 15G/15H if total income is below taxable limit to avoid TDS.

🏦 Top Bank FD Rates (as of 2025-26)

Bank	1 Year	2 Years	3 Years	5 Years
SBI	6.80%	7.00%	6.75%	6.50%
HDFC Bank	6.60%	7.00%	7.00%	7.00%
ICICI Bank	6.70%	7.00%	7.00%	7.00%
Axis Bank	6.70%	7.10%	7.10%	7.00%
Kotak Bank	7.10%	7.10%	7.10%	6.20%
PNB	6.50%	6.80%	6.50%	6.50%
Bank of Baroda	6.85%	7.05%	7.15%	6.50%
Post Office TD	6.90%	7.00%	7.10%	7.50%

Indicative rates. Verify with bank before investing. Senior citizen rates are 0.25–0.75% higher.

How is Fixed Deposit Interest Calculated?

For FDs with compounding, the formula is: A = P × (1 + r/n)^(n×t), where P is principal, r is annual rate, n is compounding frequency, and t is tenure in years. Most Indian banks compound quarterly.

For simple interest FDs (rare): Interest = P × r × t / 100

Tax on FD Interest in India

FD interest is added to your total income and taxed as per your income slab — 5%, 20%, or 30%. Banks deduct TDS at 10% if total FD interest exceeds ₹40,000 in a year (₹50,000 for senior citizens). If you're in the 30% bracket, your effective post-tax FD return is much lower than the stated rate.

Frequently Asked Questions

In a cumulative FD, interest is compounded and paid at maturity — better for wealth building. In non-cumulative FDs, interest is paid monthly/quarterly — suited for those needing regular income (like retirees).

Yes. All bank FDs in India are insured by DICGC (Deposit Insurance and Credit Guarantee Corporation) up to ₹5 lakh per depositor per bank (including both principal and interest). This covers most small investors.

Yes, but usually with a penalty of 0.5%–1% on the interest rate. Some banks offer "no-penalty" or "flexi" FDs. Post Office Time Deposits cannot be broken before 6 months.