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.
FD Calculator – Fixed Deposit Maturity Amount & Interest Calculator
Our free FD Calculator (Fixed Deposit Calculator) helps you calculate the maturity amount and interest earned on your Fixed Deposit investment. Whether you are investing in a bank FD, post office FD, or corporate FD, our calculator gives you instant and accurate results with multiple compounding frequency options — monthly, quarterly, half-yearly, or annually.
What is a Fixed Deposit (FD)?
A Fixed Deposit is a financial instrument offered by banks, NBFCs, and post offices where you deposit a lump sum amount for a fixed tenure at a predetermined interest rate. Unlike savings accounts, FD interest rates are locked in for the tenure period, offering guaranteed and predictable returns. FDs are one of India's most popular investment choices due to their safety, guaranteed returns, and flexibility in tenure (7 days to 10 years).
FD Interest Calculation Formula
For simple interest FD: Interest = Principal × Rate × Time / 100. For compound interest FD (most bank FDs): A = P × (1 + r/n)^(n×t), where P = Principal, r = Annual interest rate, n = Compounding frequency per year, t = Time in years. Most banks compound FD interest quarterly, which means your interest earns interest every 3 months.
Current FD Interest Rates in India (2024–25)
FD interest rates vary across banks and institutions. Major public sector banks like SBI offer rates from 3.5%–7.1% depending on tenure. Private sector banks like HDFC, ICICI, and Axis offer rates between 3.5%–7.5%. Small Finance Banks like AU, Ujjivan, and Jana offer higher rates of 7%–9% for various tenures. Senior citizens typically receive an additional 0.25%–0.75% over regular rates. Corporate FDs from reputed companies may offer even higher returns but come with higher risk.
FD vs Other Investment Options
FDs are ideal for risk-averse investors seeking capital protection and guaranteed returns. They are better than savings accounts (which earn only 2.5%–4%) but typically offer lower returns than equity mutual funds (which have averaged 12%–15% over the long term but carry market risk). For short-term goals (1–3 years), FDs are an excellent choice. For long-term wealth creation (5+ years), SIPs in equity mutual funds may be more suitable. Use our SIP Calculator to compare.
Tax on Fixed Deposit Interest
FD interest is fully taxable as per your income tax slab. Banks deduct TDS at 10% on FD interest exceeding ₹40,000 per year (₹50,000 for senior citizens). If your total income is below the taxable limit, submit Form 15G (or Form 15H for senior citizens) to avoid TDS deduction. Always declare FD interest in your ITR to stay tax compliant.
Note: FD interest rates change frequently. Always verify current rates directly with your bank before investing. This calculator uses rates provided by you for estimation purposes only.