FD Calculator

For a cumulative deposit, interest is added to the balance at a fixed interval, most often every quarter, and the next interval's interest is worked out on the larger balance. The maturity value is amount × (1 + rate ÷ number of intervals per year)^(intervals in the tenure). If you choose to have interest paid out, nothing is added, so it is simple interest.

It is the once-a-year rate that would give the same result as your compounding. A 7% deposit that compounds quarterly earns about 7.19% a year effectively. It lets you compare deposits that add interest at different intervals.

Yes. Interest is added to your income and taxed at your slab rate, every year as it is earned, even if the money is only paid out at maturity. Choose your tax rate in the calculator to see what you keep.

A bank deducts tax at source (TDS) when the interest it pays you in a year crosses a limit. The limit is currently ₹50,000 a year for most people and ₹1,00,000 for senior citizens, counted per bank. The rate is 10% with a PAN and 20% without. If your total income is below the taxable limit you can submit Form 15G or 15H to avoid it. Limits and rules change, so confirm with your bank.

Most banks pay senior citizens (60 and above) a higher rate, commonly 0.25 to 0.75 percentage points more. Use the senior rate in the calculator if it applies to you.

Deposits in banks are insured by the DICGC up to ₹5 lakh per depositor per bank, covering principal and interest together. Amounts above that depend on the bank's own strength. Deposits in small finance banks are covered in the same way.

Banks usually pay a lower rate for the period the money stayed, and may charge a penalty, often 0.5% to 1%. The exact terms are in the bank's deposit rules, so check before you commit.

A five-year deposit with a lock-in, on which a deduction of up to ₹1.5 lakh a year may be available under Section 80C if you choose the old tax regime. It cannot be withdrawn early. Choose "Tax-saver FD" at the top of the calculator to compare the rates banks pay and see what the deduction is worth at your tax rate. Check current rules.

Inflation raises prices every year. If your deposit grows slower than prices, its buying power falls even though the rupee amount grows. The calculator takes inflation and tax off your yield so you can see the real gain.