Calculate the exact maturity value of your Fixed Deposit. Compare cumulative (compound interest) vs non-cumulative (regular payout) FD options and see total interest earned at current bank rates.
Fixed Deposits remain India's most popular savings instrument. Our calculator helps you compare options and understand the real impact of compounding.
Cumulative vs Non-Cumulative
Compare both FD types: cumulative FD reinvests interest for compound growth; non-cumulative pays interest monthly/quarterly.
Bank Rate Comparison
Model FDs at any interest rate — from major bank rates (6.5–7.5%) to small finance bank rates (8–9%) and senior citizen rates.
TDS Impact Calculation
Understand TDS deduction on FD interest above ₹40,000/year (₹50,000 for seniors) and net take-home interest.
How to Use the FD Calculator
Three inputs. Get your FD maturity amount and interest breakdown instantly.
1
Enter Principal Amount
Input the amount you want to deposit — most banks require minimum ₹1,000 to ₹10,000 to open an FD.
2
Set Interest Rate & Tenure
Enter the FD interest rate from your bank and the tenure in months or years. Rates change frequently — check your bank's website.
3
Choose Compounding Frequency
Select quarterly (most common for cumulative FDs) or simple interest (for non-cumulative regular payout FDs).
FD Maturity Formula
How your Fixed Deposit maturity amount is calculated.
FD Maturity Formula
A = P × (1 + r/n)^(n×t)
Where A = maturity amount, P = principal, r = annual interest rate, n = compounding periods per year (quarterly = 4), t = tenure in years. For simple interest FD: A = P + (P × r × t). Most Indian bank FDs compound quarterly.
Frequently Asked Questions
Everything you need to know about Fixed Deposits in India.
FD rates vary by bank, tenure, and customer category. As of 2026, indicative rates for 1–3 year tenures: SBI: 6.80–7.00%; HDFC Bank: 7.00–7.25%; ICICI Bank: 6.90–7.10%; Axis Bank: 7.10–7.25%; Kotak Bank: 7.00–7.20%. Small Finance Banks offer higher rates: AU SFB: 7.75–8.25%; ESAF SFB: 8.25–8.75%; Jana SFB: 8.00–8.50%. Senior citizens get 0.25–0.50% additional on most banks. Rates change frequently — always check the bank's official website before investing.
Yes. FD interest is fully taxable as "Income from Other Sources" at your applicable income tax slab rate. Banks deduct TDS at 10% if total FD interest across all branches of the bank exceeds ₹40,000 per financial year (₹50,000 for senior citizens). If your total income is below the taxable limit, submit Form 15G (non-senior) or Form 15H (senior citizen) to avoid TDS. Even without TDS, you must declare all FD interest in your ITR. For tax efficiency, consider debt mutual funds or tax-saving FD (5-year lock-in, Section 80C deduction).
Tax-saving FDs (5-year lock-in under Section 80C) allow deduction up to ₹1.5 lakh from taxable income. Regular FDs offer more flexibility (no lock-in, various tenures). Choose tax-saving FD if: you need Section 80C investment and other options (PPF, ELSS) are maxed out; you're in the 20–30% tax bracket (saving meaningful tax). Choose regular FD if: you might need liquidity; you're a senior citizen who qualifies for higher rates; you're in the 0–5% tax bracket (tax savings marginal). Tax-saving FD interest is still taxable — the only tax benefit is on the principal deposit.
Yes, most bank FDs can be broken prematurely, but with a penalty. Typical penalty: 0.5–1% reduction in applicable interest rate. Example: if FD was booked at 7% for 2 years but broken after 6 months, bank may pay the 6-month rate (say 6.5%) minus 0.5% penalty = 6%. Some banks offer zero-penalty premature withdrawal on certain FD products. Liquid FDs and flexi-FDs specifically allow partial withdrawal. Before breaking an FD, check if a loan against FD (up to 90% of FD value at 1–2% above FD rate) is cheaper than the premature withdrawal penalty.
Both are "safe" investments but differ in key ways. FD pros: guaranteed returns, DICGC insurance up to ₹5 lakh, no NAV risk. Debt Mutual Fund pros: higher post-tax returns (especially if in higher tax bracket), better liquidity (T+1 redemption vs FD penalty), no TDS hassle, potential for capital gains vs fixed interest. Post the 2023 Finance Act change (debt MF gains now taxed at slab rate, not 20% with indexation), the tax advantage of debt MFs has reduced for holding periods under 3 years. For amounts under ₹5 lakh, FD with DICGC insurance is safer. For large amounts or higher tax brackets, debt mutual funds may offer better net returns.
DICGC (Deposit Insurance and Credit Guarantee Corporation) insures bank deposits up to ₹5 lakh per depositor per bank (across all branches and including principal + interest). This limit was increased from ₹1 lakh to ₹5 lakh in February 2020. The insurance covers savings accounts, FDs, recurring deposits, and current accounts. Key point: the ₹5 lakh limit is per bank, not per account. If you have ₹50 lakh to park, spreading across 10 different banks ensures full coverage. Small Finance Banks and Payments Banks also have DICGC coverage. Cooperative banks have varying coverage — verify before depositing.
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