FD Calculator
Calculate your fixed deposit maturity value and compare interest earned across different tenures and rates.
Deposit Amount
₹1,00,000
Total Interest
₹41,478
Maturity Amount
₹1,41,478
Growth Over Time
₹1,41,478
| Year | Interest Earned |
|---|---|
| 1 | ₹7,186 |
| 2 | ₹7,702 |
| 3 | ₹8,256 |
| 4 | ₹8,849 |
| 5 | ₹9,485 |
| Year | Opening Balance | Interest Earned | Closing Balance |
|---|---|---|---|
| 1 | ₹1,00,000 | ₹7,186 | ₹1,07,186 |
| 2 | ₹1,07,186 | ₹7,702 | ₹1,14,888 |
| 3 | ₹1,14,888 | ₹8,256 | ₹1,23,144 |
| 4 | ₹1,23,144 | ₹8,849 | ₹1,31,993 |
| 5 | ₹1,31,993 | ₹9,485 | ₹1,41,478 |
What is a Fixed Deposit (FD)?
A Fixed Deposit is a financial instrument where you deposit a lump sum with a bank or NBFC for a fixed tenure at a predetermined interest rate. FDs are one of the safest investment options in India, offering guaranteed returns and capital protection. They are ideal for conservative investors and those looking to park short-term surplus funds.
FD Compounding Explained
FD interest can be compounded at different frequencies: quarterly (most common in Indian banks), monthly, half-yearly, or yearly. The maturity formula is: A = P × (1 + r/n)^(n×t), where P is the principal, r is the annual interest rate, n is the compounding frequency per year, and t is the tenure in years. Quarterly compounding gives slightly higher returns than annual compounding for the same rate.
Current FD Rates (Top Banks)
- SBI: 6.50% — 7.10% (general), up to 7.60% (senior citizens)
- HDFC Bank: 6.60% — 7.25% (general), up to 7.75% (senior citizens)
- ICICI Bank: 6.50% — 7.20% (general), up to 7.70% (senior citizens)
- Post Office TD: 6.90% — 7.50% (1-5 year tenures)
Rates are indicative and subject to change. Check the respective bank website for latest rates.
FAQ: Is TDS deducted on FD interest?
Yes, banks deduct TDS at 10% if your total interest income from FDs with that bank exceeds ₹40,000 in a financial year (₹50,000 for senior citizens). If your total income is below the taxable limit, you can submit Form 15G (or 15H for senior citizens) to avoid TDS deduction. If TDS is deducted, you can claim it back while filing your income tax return.
FAQ: What is a Tax-Saving FD?
A tax-saving FD has a 5-year lock-in period and qualifies for deduction under Section 80C (up to ₹1.5 lakh). However, the interest earned is fully taxable. Compared to other 80C investments like PPF, ELSS, or NPS, tax-saving FDs offer lower post-tax returns but guaranteed capital safety. Compare with PPF →
FAQ: FD vs RD — which gives better returns?
For the same rate and tenure, an FD gives higher total returns because the entire principal earns interest from day one. In an RD, you invest monthly, so earlier deposits earn more interest than later ones. FDs are better for lump sum investments, while RDs are better for building a corpus through monthly savings. Try RD Calculator →