Fixed Deposit Calculator
Fixed deposits are India's most popular low-risk savings product. Enter your deposit amount, bank interest rate, and tenure to see exactly how much you will receive at maturity.
Frequently Asked Questions
How is FD interest calculated?+
FD interest is calculated using compound interest: Maturity = P × (1 + r/n)^(n×t), where P is the principal, r is the annual rate, n is the compounding frequency per year, and t is the tenure in years. Most Indian banks compound quarterly.
Is FD interest taxable in India?+
Yes. FD interest is added to your taxable income and taxed at your applicable slab rate. Banks deduct TDS at 10% if interest exceeds ₹40,000 per year (₹50,000 for senior citizens). You can avoid TDS by submitting Form 15G/15H if you are below the taxable income limit.
What happens if I break my FD before maturity?+
Premature withdrawal is allowed but attracts a penalty — typically 0.5% to 1% reduction in the applicable interest rate. The bank will pay interest at the rate applicable for the period the deposit was held, minus the penalty.
Is an FD better than a savings account?+
FDs offer significantly higher interest rates than savings accounts (typically 2–3% more). The trade-off is liquidity: savings account funds are instantly accessible, while FD funds are locked in for the tenure. FDs are ideal for funds you will not need for a defined period.