What's the FD tax rule?

FD interest is fully taxable at your income tax slab. Banks deduct TDS at 10% if interest crosses ₹40,000/year (₹50,000 for seniors). Form 15G/15H lets you avoid TDS if your income is below the taxable limit.

Who offers the best FD rates in India?

Small finance banks (Ujjivan, AU, Equitas, Suryoday) typically offer 1–1.5% higher than big banks. Post Office TD also competitive for ≤5 year tenures. Always check DICGC cover (₹5 lakh per bank).

FD vs debt mutual fund — which is better?

FDs are safer (DICGC-insured) but less tax-efficient. Debt mutual funds can be more tax-efficient and potentially higher-return for holdings > 3 years, but carry interest rate risk. For most retail savers, FDs are simpler.

All calculators

FD Calculator — fixed deposit maturity value

Calculate the maturity amount of your bank fixed deposit. Supports quarterly, half-yearly, and annual compounding.

Inputs

Deposit amount₹5.00 L

₹1,000₹10.00 Cr

Interest rate (p.a.)7.25%

115

Tenure5 yrs

120

Compounded (times/year)4

112

Result

Maturity value

₹7.16 L

Interest earned

₹2.16 L

Principal

₹5.00 L

Composition

Invested

Returns

Year-by-year growth

About the FD Calculator

A fixed deposit is the simplest investment in India: deposit a lumpsum with a bank for a fixed tenure at a pre-agreed interest rate. No market risk, DICGC-insured up to ₹5 lakh.

This calculator uses the standard compound interest formula. For Indian bank FDs, the compounding frequency is almost always quarterly (4x per year) — keep that as the default unless your bank specifies otherwise.

Rates vary: 6.5–7.5% at PSU banks, 7–8% at private banks, 8–9% at small finance banks. Senior citizens get an extra 0.25–0.50%.

FD — Frequently asked questions

Most Indian banks compound FD interest quarterly. Formula: A = P(1 + r/n)^(nt), where P is principal, r is annual rate, n is compoundings per year (4 for quarterly), t is tenure in years.

Related calculators

Lumpsum Calculator

Calculate the future value of a one-time lumpsum investment. Enter principal, expected return, and duration. Instant wealth projection.

PPF Calculator

Calculate your PPF maturity amount. 15-year tenure, tax-free returns, current rate 7.1%. See year-wise balance growth.

SWP Calculator

Plan regular monthly withdrawals from your invested corpus while it continues to earn. See how long your retirement money will last.