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FD Calculator

Calculate your Fixed Deposit maturity amount

Estimate how much your FD will grow at maturity. Interest is compounded quarterly as per Indian banking standards.

₹
₹1,000₹10,000,000
%
1%12%
Yr
1 Yr10 Yr
Deposit Amount₹1,00,000
Interest Earned₹42,175
Maturity Amount₹1,42,175

What is a Fixed Deposit?

A Fixed Deposit (FD) is a financial instrument offered by banks and NBFCs where you deposit a lump sum for a fixed tenure at a predetermined interest rate. FDs are one of the safest investment options in India, offering guaranteed returns regardless of market conditions.

FD interest rates in India currently range from 6.5% to 7.5% for regular citizens and 7.0% to 8.0% for senior citizens (65+), depending on the bank and tenure.

FD Interest Compounding

Most Indian banks compound FD interest quarterly. This means your interest earns interest every 3 months, resulting in a slightly higher effective yield than the stated annual rate. For example, a 7% FD with quarterly compounding yields an effective annual rate of approximately 7.19%.

Frequently Asked Questions

Is FD interest taxable?
Yes. FD interest is fully taxable at your income tax slab rate. Banks deduct TDS at 10% if your annual interest exceeds ₹40,000 (₹50,000 for senior citizens). You can submit Form 15G/15H to avoid TDS if your total income is below the taxable limit.
Can I break my FD before maturity?
Yes, but most banks charge a penalty of 0.5-1% on the applicable interest rate for premature withdrawal. Some banks offer no-penalty FDs at slightly lower rates.
Which bank gives the highest FD rate?
Small finance banks and NBFCs typically offer 0.5-1.5% higher rates than large banks. However, ensure the institution is covered by DICGC insurance (up to ₹5 lakh per depositor per bank).

Related Calculators

SIP Calculator

Compare SIP returns against FD returns.

PPF Calculator

Tax-free alternative to FD with 7.1% guaranteed return.

Income Tax Calculator

Calculate tax on your FD interest income.