FD Calculator
Calculate your Fixed Deposit maturity amount
Minimum ₹1,000 typically
Higher tenure = better rates
Compare across banks below
Cumulative gives highest returns
Senior citizens get 0.50% extra
TDS applies if interest > ₹40,000/year
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Quick Examples
FD Calculator by Deposit Amount
FD Calculator by Tenure
FD Calculator by Interest Rate
FD Calculator by Bank
How Fixed Deposit Works
- Deposit Amount: Choose a lump sum amount (₹1,000 to ₹5 Crores)
- Select Tenure: Choose from 7 days to 10 years
- Choose Payout: Cumulative (compounded) or regular interest payouts
- Get Maturity Amount: Know exactly how much you'll get at the end
FD Calculation Formula
Cumulative FD Formula:
A = P × (1 + r/100)^n
Where:
A = Maturity Amount
P = Principal Amount
r = Interest Rate (% per annum)
n = Number of Years
Payout FD Formula:
Interest per quarter = P × (r/100) × (90/365)
Example: ₹1,00,000 @7.5% = ₹1,848 quarterly interest
Benefits of Fixed Deposits
- ✓ Guaranteed Returns: Interest rate is fixed at deposit time
- ✓ Capital Protection: Principal safe (up to ₹5L insured by DICGC)
- ✓ Flexible Tenure: Choose from 7 days to 10 years
- ✓ Regular Income: Monthly/quarterly interest payouts available
- ✓ Loan Against FD: Get up to 90% loan without breaking FD
- ✓ Tax Benefits: 5-year tax-saver FDs qualify for 80C deduction
Current FD Interest Rates (Major Banks)
| Bank | Regular Rate | Senior Rate |
|---|---|---|
| SBI | 7.10% | 7.60% |
| HDFC Bank | 7.20% | 7.70% |
| ICICI Bank | 7.20% | 7.70% |
| Kotak Bank | 7.40% | 7.90% |
| Axis Bank | 7.30% | 7.80% |
| IDFC First | 7.50% | 8.00% |
Frequently Asked Questions
Which FD gives highest interest?
Small finance banks (like AU, Equitas, Ujjivan) offer higher rates (8-9%). Among large banks, Kotak and IDFC First offer competitive rates up to 7.5%. Senior citizens get 0.50% extra.
Is cumulative or non-cumulative FD better?
Cumulative FD (interest reinvested) gives higher maturity amount (up to 40-50% more over 10 years). Non-cumulative (quarterly/monthly payout) is better if you need regular income for expenses.
Can I break FD before maturity?
Yes, but penalty applies (typically 0.5-1% lower interest). Some banks waive penalty after 5 years. Breaking early significantly reduces returns.
Is FD interest taxable?
Yes, FD interest is added to your income and taxed as per your income tax slab. TDS at 10% applies if interest exceeds ₹40,000/year (₹50,000 for senior citizens).
What is the minimum amount for FD?
Most banks offer FD starting from ₹1,000. Some banks like SBI, HDFC have minimum ₹1,000 to ₹10,000. Post Office offers FD starting ₹1,000.
Is FD better than mutual funds?
FD is better for capital protection and guaranteed returns (7-8%). Mutual funds (equity) can give higher returns (10-15%) but with market risk. Choose FD for safety, mutual funds for growth.
Does this FD calculator work on mobile?
Yes! Our FD calculator is fully responsive and works perfectly on phones, tablets, and desktops. Calculate FD returns anytime, anywhere.
Is this FD calculator really free?
Yes, completely free! No sign-up, no credit card, no limits. Your data stays in your browser - we don't store any information. Use it unlimited times for all your FD planning.
🔒 Privacy Guarantee: Your FD data never leaves your browser. We don't store, log, or share any information you enter. 100% private and secure.
FD vs Other Investment Options
| Investment Option | Return Range | Risk Level | Lock-in Period | Best For |
|---|---|---|---|---|
| Fixed Deposit (FD) | 7-8.5% | Low | 7 days - 10 years | Safety-first investors |
| Savings Account | 2.5-4% | Very Low | None | Emergency funds |
| PPF | 7-8% | Very Low | 15 years | Long-term tax-saving |
| Debt Mutual Funds | 6-9% | Low-Moderate | None (3y for indexation) | Higher returns with moderate risk |
| Equity Mutual Funds | 10-15% | High | None (1y for LTCG) | Long-term wealth creation |
| Gold | 8-12% | Moderate | None | Hedge against inflation |
Tax on Fixed Deposit Interest
Important Tax Rules:
- TDS (Tax Deducted at Source): 10% if interest exceeds ₹40,000 per year (₹50,000 for senior citizens)
- No TDS: If total interest is below ₹40,000, bank won't deduct TDS (but tax is still payable)
- Tax Slab: FD interest is added to your income and taxed as per your income tax slab
- Form 15G/15H: Submit if your total income is below taxable limit to avoid TDS
Tax Saving Tips:
- Invest in Tax-Saver FDs (5-year lock-in) for deduction u/s 80C up to ₹1.5 lakh
- FD in senior citizen's name (parents) can reduce tax burden if they have lower income
- Choose cumulative option to defer tax on interest (taxed at maturity only)
- For high-income earners, consider debt mutual funds for indexation benefit
"My father started an FD of ₹1 lakh for my education when I was born. By the time I turned 18, it had grown to over ₹3.5 lakhs. That's the power of compounding!"
— Anjali S., Software Engineer
Beneficiary of a long-term FD
Ready to Grow Your Savings?
Use the FD calculator to plan your fixed deposit investments. Compare banks and find the best interest rates.