FD Calculator

In India, FD interest is typically compounded quarterly. The formula is: A = P × (1 + r/400)^(4×t), where P is principal, r is annual rate, and t is tenure in years.

At 7% per annum compounded quarterly, ₹1 lakh FD matures to approximately ₹1,07,186 in 1 year, earning ₹7,186 in interest.

TDS on FD interest is 10% if interest exceeds ₹40,000 per year (₹50,000 for senior citizens). If you haven't submitted Form 15G/15H, TDS is deducted at 10% (20% if PAN is not provided).

Yes, most banks offer 0.25% to 0.75% higher interest rates to senior citizens. For example, if the standard rate is 7%, senior citizens may get 7.5% on the same FD.

You can submit Form 15G (for individuals under 60) or Form 15H (for senior citizens) to your bank if your total income is below the taxable limit. This allows the bank not to deduct TDS on your FD interest.

Cumulative FD reinvests the interest and pays the total amount at maturity, resulting in higher returns. Non-cumulative FD pays interest periodically (monthly, quarterly, or annually) and the principal is returned at maturity.

As of 2025-26, small finance banks offer the highest FD rates up to 8-9%, while major banks offer 6.5-7.5%. However, deposits up to ₹5 lakh are insured by DICGC even with small finance banks.

FDs offer guaranteed returns and capital protection, making them suitable for short-term goals (1-3 years). Mutual funds offer potentially higher returns but with market risk. A balanced approach using both is often recommended.

Premature withdrawal of FD typically incurs a penalty of 0.5% to 1% on the applicable interest rate. Some banks may also reduce the interest rate to the savings account rate for the period the FD was held.

Yes, NRIs can open FDs through NRE (Non-Resident External) or NRO (Non-Resident Ordinary) accounts. NRE FD interest is tax-free in India, while NRO FD interest is taxable.

Post office FD calculator computes maturity for India Post Fixed Deposits. Post office offers 5-year FDs at government-set rates (currently 7.5%). Unlike bank FDs, post office FDs have fixed rates for the entire tenure.

HDFC FD calculator helps estimate returns on HDFC Bank fixed deposits. HDFC offers FD rates from 3.5% to 7.75% depending on tenure. Senior citizens get 0.50% higher rates. Use our calculator with HDFC rates for accurate projections.

SBI FD calculator estimates maturity on State Bank of India fixed deposits. SBI offers rates from 3.5% to 7.25% for general public, with 0.50% extra for senior citizens. Our calculator works with any rate including SBI's current rates.

For monthly interest FD (non-cumulative): monthly interest = (Principal × Annual Rate)/(12 × 100). For example, ₹5 lakh at 7% gives monthly interest of ₹2,917. Use our FD calculator with monthly payout option to see exact figures.

Tax on FD interest depends on your income tax slab. TDS is deducted at 10% if interest exceeds ₹40,000/year (₹50,000 for senior citizens). The interest is added to your taxable income and taxed as per your slab rate. Submit Form 15G/15H to avoid TDS if eligible.