FD Calculator
Calculate your Fixed Deposit maturity amount, interest earned, and compare FD rates across banks.
* All calculations are approximate.
How Fixed Deposit Works?
Calculate your Fixed Deposit maturity amount, interest earned, and compare FD rates across banks.
You deposit a lump sum amount with a bank for a fixed tenure at a predetermined interest rate.
Interest is calculated using compound interest, typically compounded quarterly by most Indian banks.
The deposit amount and interest rate remain locked for the entire tenure, providing guaranteed returns.
At maturity, you receive your original deposit plus the accumulated interest as the maturity amount.
Formula Used
A = P × (1 + r/n)^(n×t)
Where P = Deposit amount, r = Annual interest rate, n = Compounding frequency (4 for quarterly), t = Tenure in years
Important — Read Before You Decide
- FD interest is fully taxable as per your income tax slab
- TDS of 10% is deducted if interest exceeds ₹40,000/year
- Premature withdrawal attracts penalty of 0.5%–1%
- FD rates may not beat inflation in many years
- Senior citizens get 0.25%–0.5% higher interest rate
- Tax-saving FDs have a 5-year lock-in period
What Happens If You Ignore These?
- Returns may not keep up with inflation, reducing real value
- Unexpected tax liability on interest earned
- Penalty charges on premature withdrawal
- Missing better investment opportunities
Smart Tips
- Use FD laddering — split into multiple FDs with different tenures
- Submit Form 15G/15H to avoid TDS if below taxable income
- Compare rates across banks — small FD banks often offer higher rates
- Consider debt mutual funds for better post-tax returns
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