FD Calculator
Calculate fixed deposit maturity amount, interest earned, and TDS for any bank FD in India.
FD calculator finds the maturity amount, interest earned, and TDS deduction for any fixed deposit. Enter your principal, annual interest rate, tenure, and compounding frequency: monthly, quarterly, or yearly. The tool also shows TDS at 10% when annual interest exceeds ₹40,000 (₹50,000 for senior citizens). A year-by-year breakdown table shows how the balance grows. Free, no signup required.
Senior citizen (60+)
TDS threshold ₹50,000
Maturity amount
₹1.07 L
₹1,07,186
Interest earned
₹7,186
EAR 7.19%
Est. TDS (10%)
₹0
Below TDS threshold
Net interest
₹7,186
After TDS
Frequently Asked Questions
- How is FD interest calculated?
- FD interest uses compound interest: A = P × (1 + r/n)^(nt). P is principal, r is the annual rate, and n is compounding periods per year. t is tenure in years. Most Indian banks compound quarterly. Some small finance banks compound monthly.
- What is TDS on FD interest?
- Banks deduct TDS at 10% when FD interest crosses ₹40,000 in a financial year (₹50,000 for senior citizens). Without PAN, TDS rises to 20%. Submit Form 15G (under 60) or 15H (senior citizens) if your income is below the taxable limit.
- Which bank gives the highest FD interest rate in India?
- Small finance banks typically offer the highest rates, often 8.5% to 9.5% per annum. Among large banks, SBI and HDFC rates range from 6.5% to 7.5% for standard tenures as of 2025. Senior citizens get 0.25% to 0.50% extra at most banks.
- What is the difference between quarterly and monthly compounding?
- Monthly compounding gives a slightly higher yield than quarterly. At 7% per annum, quarterly compounding yields 7.19% effective annual rate and monthly yields 7.23%. The difference grows with larger principals and longer tenures.
- Is FD interest taxable?
- Yes. FD interest is fully taxable as income from other sources at your slab rate. TDS deducted by the bank appears in Form 26AS. Credit it against your total tax liability when filing returns. If your slab rate is below 10%, you get a refund of excess TDS.
- Can I get a loan against my FD?
- Yes. Most banks offer loans up to 90% of the FD value at 1% to 2% above the FD rate. The FD continues earning interest while serving as collateral. No premature withdrawal is needed.
What is FD Calculator?
FD calculator computes the maturity amount and total interest for a fixed deposit. A fixed deposit locks a lump sum for a fixed tenure at a guaranteed interest rate. Banks guarantee the return, unlike market-linked investments. FDs are among the most common savings products in India.
The calculator covers all compounding frequencies used by Indian banks and flags when TDS will be deducted.
How does it work?
The compound interest formula is A = P × (1 + r/n)^(nt). P is the principal deposited. r is the annual rate as a decimal: 7% becomes 0.07. n is the compounding periods per year: 12 for monthly, 4 for quarterly, 1 for yearly. t is the tenure in years.
Interest earned is the difference between maturity amount A and principal P. Effective annual yield is slightly higher than the stated rate for monthly and quarterly compounding. Interest compounds on previously earned interest each period.
TDS applies when annual FD interest from one bank crosses ₹40,000. Senior citizens get a higher threshold of ₹50,000. Banks deduct TDS at 10% with PAN or 20% without. TDS appears in Form 26AS and offsets your total tax liability at filing time.
FD Calculator in India
Indian bank FD rates follow the RBI repo rate. When the repo rate rises, FD rates increase within weeks. When it falls, rates adjust within months. Public sector banks like SBI set a benchmark that others follow.
Small finance banks offer the highest retail FD rates. DICGC insurance covers up to ₹5 lakh per depositor per bank, including both principal and interest. SFBs carry the same coverage as public sector banks.
Post Office Fixed Deposits are a government-backed alternative. Rates are set quarterly by the Ministry of Finance. Both qualify for Section 80C deduction up to ₹1.5 lakh. Eligible products are the five-year Post Office FD and the five-year bank tax-saving FD. The deduction applies under the old tax regime only.
For senior citizens, most banks pay 0.25% to 0.50% above standard rates. The higher TDS threshold and Form 15H exemption make FDs tax-efficient for retirees with income below the taxable limit.
Tips to get the best results
- Check compounding frequency in your bank's FD terms before entering it. Most public sector banks compound quarterly. Entering the wrong frequency gives a different result from the actual payout.
- Compare two FDs using the effective annual rate shown below the interest cards, not the stated rate. Monthly compounding at 7.25% beats quarterly compounding at 7.25%.
- For tenures crossing a financial year, TDS is split across two years. The tool shows total TDS. The bank applies it per financial year on interest accrued each year.
- Submit Form 15G or 15H at the start of every financial year, not just when booking the FD. Banks apply TDS per year if the declaration is missing.
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