Fixed Deposit (FD) Calculator
Fixed Deposits are the safest investment choice for millions of Indians. Use our tool to find the exact maturity value of your savings.
Fixed Deposit
₹1,41,478
Current FD Rates (Approx)
This is an estimate. Actual bank rates may vary based on your age (Senior Citizens get +0.50%) and exact deposit dates.
Why use an FD Calculator?
Manual calculation of compound interest with different frequencies (monthly/quarterly) can be complex and prone to errors. Our FD calculator provides instant, precise results so you can plan your goals better.
Flexible Tenures
Calculate for any period—from 7 days to 10 years.
Compounding Logic
Switch between Monthly, Quarterly, or Annual compounding easily.
Comparison
See live estimates against current major bank interest rates.
Types of Fixed Deposits in India
- Standard FD: Fixed tenure (7 days to 10 years) with a fixed interest rate.
- Tax-Saving FD: 5-year lock-in with 80C benefits.
- Cumulative FD: Interest is compounded and paid at maturity (Growth option).
- Non-Cumulative FD: Interest is paid out monthly or quarterly (Income option).
Frequently Asked Questions
How is FD interest calculated?
Most Indian banks use quarterly compounding for FDs. The formula is A = P(1 + r/n)^(nt), where A is maturity value, P is principal, r is annual interest rate, n is compounding frequency (4 for quarterly), and t is time in years.
Do senior citizens get higher FD rates?
Yes, almost all banks and post offices offer an additional 0.50% interest rate to senior citizens (aged 60 and above) on their fixed deposits.
Is FD interest taxable?
Yes, interest earned on FDs is taxable as per your income tax slab. Banks also deduct TDS (Tax Deducted at Source) at 10% if the interest exceeds ₹40,000 (₹50,000 for senior citizens) in a financial year.
What is a 5-year Tax Saving FD?
A Tax Saving FD has a mandatory lock-in of 5 years and offers tax deduction under Section 80C up to ₹1.5 lakh. However, the interest earned remains taxable.
Can I withdraw my FD before maturity?
Yes, premature withdrawal is usually allowed but with a penalty (typically 0.5% to 1% reduction in interest rate). Tax-saving FDs cannot be withdrawn before 5 years.