FD Calculator
Calculate fixed deposit maturity and interest
FD Details
Rs
%
Check your bank's current FD rate. Senior citizens usually get +0.5%
Yr
FD Maturity Value
Principal
Rs 5,00,000
Interest Earned
Rs 2,07,000
Maturity Amount
Rs 7,07,000
Effective yield: 7.19%
TDS of Rs 0 will be deducted if annual interest exceeds Rs 40,000 (Rs 50,000 for senior citizens).
Investment Breakdown
0%
returns
Principal
-
Interest Earned
-
Year-by-Year Growth
| Year | Opening | Interest | Closing |
|---|
This is for estimation only - consult a tax professional for accurate advice.
How the FD Calculator Works
A Fixed Deposit (FD) is a savings instrument offered by banks where you deposit a lump sum for a fixed tenure at a guaranteed interest rate. The interest is compounded at regular intervals, and the maturity amount is paid at the end of the tenure.
The FD Formula
Maturity Amount (A) =
P x (1 + r/n)n x t
Where:
- P = Principal (deposit amount)
- r = Annual interest rate (as decimal)
- n = Compounding frequency (4 for quarterly, 12 for monthly)
- t = Tenure in years
- A = Maturity amount
TDS on Fixed Deposits
- Banks deduct 10% TDS if your total FD interest from that bank exceeds Rs 40,000 in a financial year
- For senior citizens (60+), the threshold is Rs 50,000
- If you don't provide PAN, TDS is deducted at 20%
- TDS is just an advance - you must still declare the full interest in your ITR
Cumulative vs Non-Cumulative FD
- Cumulative FD: Interest is compounded and paid at maturity along with the principal. Yields higher effective returns
- Non-Cumulative FD: Interest is paid out periodically (monthly, quarterly). Only principal is returned at maturity
- This calculator shows cumulative FD returns
Frequently Asked Questions
FD interest is calculated using compound interest: A = P x (1 + r/n)^(n x t). Most Indian banks compound quarterly. Monthly compounding gives slightly higher returns. The effective annual yield is always higher than the stated rate due to compounding.
Yes, FD interest is fully taxable at your applicable income tax slab rate. Banks deduct TDS at 10% if annual interest exceeds Rs 40,000 (Rs 50,000 for seniors). You must declare the full interest in your ITR regardless of TDS.
Cumulative FDs reinvest the interest, which compounds and is paid along with principal at maturity. Non-cumulative FDs pay interest periodically (monthly/quarterly). This calculator shows cumulative FD returns, which give higher effective returns.
Yes. Most banks offer 0.25% to 0.50% extra interest for senior citizens (60+). Some offer up to 0.75% for super senior citizens (80+). Check your bank's specific rate card.
Yes, most banks allow premature withdrawal, but they typically charge a penalty of 0.5% to 1% on the interest rate. The interest is recalculated at the rate applicable for the actual period the FD was held, minus the penalty.