Fixed Deposit Calculator
Calculate fixed deposit interest and maturity amount. Compare FD rates across banks, post office, and corporate deposits with different compounding frequencies.
Adjust FD Details
Interest Breakdown
TDS Information
TDS (Tax Deducted at Source) of 10% is applicable on FD interest if it exceeds ₹40,000 in a financial year (₹50,000 for senior citizens).
Bank FD Rates Comparison
| Bank | General Public | Senior Citizen | 1 Year FD | 5 Year FD |
|---|---|---|---|---|
| SBI | 6.50% | 7.00% | ₹1,06,500 | ₹1,37,689 |
| HDFC | 6.75% | 7.25% | ₹1,06,750 | ₹1,39,735 |
| ICICI | 6.70% | 7.20% | ₹1,06,700 | ₹1,39,227 |
| Axis Bank | 6.60% | 7.10% | ₹1,06,600 | ₹1,38,213 |
| Post Office | 6.80% | 7.30% | ₹1,06,800 | ₹1,40,244 |
About Fixed Deposits
A Fixed Deposit (FD) is a financial instrument offered by banks and financial institutions that provides investors with a higher interest rate than a regular savings account, until the given maturity date.
How FD Interest is Calculated
Where:
- P = Principal amount (initial deposit)
- r = Annual interest rate (decimal)
- n = Number of times interest is compounded per year
- t = Time in years
Types of Fixed Deposits
Bank FDs
Offered by commercial banks with flexible tenure and competitive interest rates.
- 7 days to 10 years tenure
- Quarterly compounding
- ₹1,000 minimum deposit
Post Office FD
Government-backed fixed deposits with guaranteed returns and tax benefits.
- 1 to 5 years tenure
- Tax benefits under Section 80C
- ₹1,000 minimum deposit
Corporate FDs
Offered by companies with higher interest rates than banks but higher risk.
- Higher interest rates
- Company-specific risks
- ₹5,000+ minimum deposit
FD Features & Benefits
Safe & Secure
Bank FDs are insured up to ₹5 lakhs per depositor by DICGC.
Fixed Returns
Interest rate is fixed at the time of deposit, protecting from market fluctuations.
Senior Citizen Benefits
Extra 0.25% to 0.75% interest for senior citizens above 60 years.
Loan Against FD
Up to 90% of FD value available as loan at lower interest rates.
Tax Implications
TDS on FD Interest
Banks deduct 10% TDS if annual interest exceeds ₹40,000 (₹50,000 for senior citizens).
Form 15G/15H
Submit Form 15G (non-seniors) or 15H (seniors) to avoid TDS if total income is below taxable limit.
Tax Saving FDs
5-year tax-saving FDs under Section 80C offer ₹1.5 lakh deduction from taxable income.