FD Calculator
Calculate fixed deposit maturity with monthly, quarterly, half-yearly or yearly compounding. Free, privacy-first — inputs never leave your browser.
FD Details
Results
Maturity Value
₹7,16,130
Invested
₹5,00,000
Interest Earned
₹2,16,130
Multiplier
1.43×
For estimation only. Not professional financial, tax, or legal advice. Consult a qualified advisor before making decisions. Full disclaimer.
How bank FD returns are calculated
Fixed deposits use compound interest. Most banks compound quarterly: A = P × (1 + r/4)^(4t). A few NBFCs compound monthly for slightly higher effective yield. Senior citizens typically get 0.5% higher rates across all banks.
FD interest is taxable
FD interest is fully taxable in your income tax slab. Banks deduct TDS at 10% if interest exceeds ₹40,000 in a financial year (₹50,000 for senior citizens) under Section 194A of the Income Tax Act. Use Form 15G/15H to avoid TDS if your total income is below the basic exemption. Bank FDs up to ₹5L are insured by DICGC (RBI).
Common questions about FD
What are current FD interest rates in India?+
As of 2026, public sector banks offer 6.5-7.25% for 1-5 year FDs. Private banks like HDFC, ICICI: 6.75-7.5%. Small Finance Banks (Equitas, Ujjivan, AU): 7.5-8.5%. NBFCs: 8-9%. Senior citizens get 0.5% extra across all banks.
Is FD interest taxable?+
Yes, fully taxable at your income tax slab. Banks deduct TDS at 10% if interest exceeds ₹40,000/year (₹50,000 for senior citizens). Submit Form 15G/15H if your total income is below the basic exemption limit to avoid TDS.
What is the difference between cumulative and non-cumulative FD?+
Cumulative FD: interest is reinvested and paid along with principal at maturity (higher final amount). Non-cumulative: interest paid out periodically (monthly/quarterly/half-yearly/yearly) — useful for retirees needing regular income.
Which compounding frequency is best?+
Higher compounding frequency = higher effective yield. Monthly > quarterly > half-yearly > yearly. Difference is small (0.1-0.2%) but meaningful on large amounts. Most banks compound quarterly; some NBFCs offer monthly compounding.
Can I break a fixed deposit early?+
Yes, but most banks charge 0.5-1% penalty on the applicable interest rate for the period the FD was actually held. Some special FDs (tax-saver 5-year) cannot be broken at all.
Is a tax-saving FD worth it?+
The 5-year tax-saving FD qualifies for 80C deduction (up to ₹1.5L, old regime only). However, returns are taxable and rates are slightly lower than regular FDs. For 80C, ELSS or PPF usually beats tax-saving FD on returns.
How safe is an FD?+
DICGC insurance covers up to ₹5 lakh per depositor per bank (since 2020). For larger amounts, split across multiple banks for full insurance coverage. PSU banks are considered safest; NBFC FDs have higher rates but higher counterparty risk.
What is a sweep-in FD?+
A sweep-in/flexi FD automatically transfers amounts above a threshold from your savings to a short-term FD, giving FD-like interest with savings-account liquidity. Useful for emergency funds.