Tool · 03
Fixed Deposit Calculator
Calculate your FD maturity value and total interest earned across any Indian bank or NBFC.
Most Indian banks compound quarterly by default.
Principal
₹1,00,000
1.00 L
Interest Earned
₹44,995
45.0 K gained
Maturity Amount
₹1,44,995
≈ 1.45 L
Tax Note
FD interest is fully taxable as per your income tax slab. Banks deduct TDS at 10% if total interest crosses ₹40,000/year (₹50,000 for senior citizens). Submit Form 15G/15H if you're below taxable income.
Effective Yield
7.71% CAGR
Slightly higher than the stated rate due to compounding. Compare with the post-tax return after deducting your slab rate.
How FD interest is calculated
Banks use the compound interest formula: A = P × (1 + r/n)n×t, where P is your deposit, r is the annual rate, n is the compounding frequency (quarterly, half-yearly, or yearly), and t is the tenure. Most Indian banks compound quarterly by default, which gives a slightly higher effective yield than the stated rate.
FD interest taxation
FD interest is fully taxable as per your income tax slab. Banks deduct TDS at 10% if your annual FD interest crosses ₹40,000 (₹50,000 for senior citizens). If your total income is below the taxable limit, submit Form 15G (15H for seniors) to avoid TDS.
FD vs other safe instruments
FDs offer guaranteed returns with deposit insurance up to ₹5 lakh per bank. Alternatives like debt mutual funds, post office schemes, or RBI bonds may offer slightly higher post-tax returns but come with different liquidity and risk profiles. Use FDs for emergency funds and short-term goals (1-3 years).
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