Fixed Deposit (FD) Calculator
Calculate FD maturity value, interest earned & effective yield with cumulative and payout options.
FD Calculator
Maturity Value
₹0
Total Interest
₹0
Payout / Month
₹0
Year-wise FD Growth (Cumulative)
| Year | Interest | Balance |
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FD Returns by Tenure
Maturity value for ₹1 Lakh deposit at 7.1% (Quarterly Compounding)
| Tenure | Total Interest | Maturity Value |
|---|
How Fixed Deposit Interest is Calculated
A Fixed Deposit (FD) is a financial instrument provided by banks and NBFCs that offers investors a higher rate of interest than a regular savings account, until the given maturity date. The interest rate is fixed at the time of investment and does not change during the tenure.
FD Calculation Formula
A = P × (1 + r/n)^(n×t)
- A = Maturity Amount
- P = Principal Amount
- r = Annual Interest Rate (decimal)
- n = Compounding Frequency (e.g., 4 for quarterly)
- t = Tenure in Years
Example Calculation
For a deposit of ₹1,00,000 at 7.1% p.a. for 5 years (Quarterly Compounding):
• Principal: ₹1,00,000
• Rate: 7.1% (r = 0.071)
• n = 4 (Quarterly), t = 5 years
→ Total Interest: ₹42,687
→ Maturity Value: ₹1,42,687
Cumulative vs Non-Cumulative FD
Cumulative FD
Interest is compounded and paid at maturity along with the principal. Ideal for long-term wealth creation as you earn interest on interest.
Non-Cumulative FD
Interest is paid out periodically (monthly, quarterly, half-yearly, or annually). Ideal for retirees seeking regular income. No compounding benefit.
Benefits of Investing in FD
- 1 Guaranteed Returns: Unlike market-linked investments, FD returns are fixed and guaranteed, making them a safe haven for conservative investors.
- 2 Loan Against FD: You can get a loan (up to 90-95% of FD amount) against your FD without breaking it. Interest rate on loan is usually 1-2% above FD rate.
- 3 Flexibility: FDs are available from 7 days to 20 years. You can choose cumulative or non-cumulative payout based on your needs.
- 4 Tax Saving FD: 5-year tax-saving FDs offer deduction under Section 80C up to ₹1.5 Lakh. However, these have a lock-in of 5 years.
Current FD Interest Rates 2025
Compare FD rates from top banks for 1-5 year tenure
| Bank | General | Senior Citizen |
|---|---|---|
| SBI | 6.80% – 7.10% | 7.30% – 7.60% |
| HDFC Bank | 6.60% – 7.20% | 7.10% – 7.70% |
| ICICI Bank | 6.70% – 7.10% | 7.20% – 7.60% |
| Bank of Baroda | 6.85% – 7.25% | 7.35% – 7.75% |
| Kotak Mahindra | 6.80% – 7.20% | 7.30% – 7.70% |
| PNB | 6.75% – 7.05% | 7.25% – 7.55% |
* Rates are indicative. Senior citizens get additional 0.50% p.a. over card rate. Last updated: Jan 2025.
Taxation on FD Interest
TDS Rules
- • 10% TDS if interest exceeds ₹40,000/year
- • ₹50,000 limit for senior citizens
- • 20% TDS if PAN not provided
- • No TDS on 15G/15H (if eligible)
Tax on Interest
- • FD interest is fully taxable
- • Taxed at your income slab rate
- • Deducted under "Income from Other Sources"
- • 5-Year Tax Saver FD: ₹1.5L deduction u/s 80C