FD Calculator
Calculate Fixed Deposit maturity with quarterly compounding. Check TDS, compare rates, and see senior citizen bonus (+0.5% extra rate).
FD Details
₹
Minimum varies by bank (₹1,000 - ₹10,000)%
Bank rates: 6.5% - 8% typicallymonths
Min: 7 days, Max: 10 years (most banks)Most banks: Quarterly
Get +0.5% extra interest rate
🏦
Enter FD details
About Fixed Deposit (FD)
Fixed Deposit is a safe investment where you deposit a lump sum for a fixed period at a fixed interest rate. Principal and interest are guaranteed by the bank/DICGC (up to ₹5 lakh per depositor per bank).
Key Features
- Interest Rates: 6% - 8% p.a. (varies by bank and tenure)
- Tenure: 7 days to 10 years (most banks)
- Compounding: Quarterly (most banks), some offer monthly/half-yearly
- Senior Citizen Bonus: +0.25% to +0.75% extra (most banks +0.5%)
- Safety: DICGC insured up to ₹5L per depositor per bank
- Premature Withdrawal: Allowed (penalty: 0.5% - 1% on rate)
Types of FD
- Regular FD: Fixed rate for entire tenure
- Tax-Saver FD: 5-year lock-in, 80C benefit (up to ₹1.5L)
- Cumulative FD: Interest compounded, paid at maturity
- Non-Cumulative FD: Interest paid monthly/quarterly/yearly
- Flexi FD: Linked to savings, auto-sweep facility
Interest Payment Options
- Cumulative: Interest reinvested, lumpsum at maturity (highest returns)
- Monthly Payout: Interest paid every month (for regular income)
- Quarterly: Interest paid every 3 months
- Yearly: Interest paid annually
- At Maturity: Simple interest paid at end (lowest returns)
TDS (Tax Deducted at Source)
- Threshold: ₹40,000/year (₹50,000 for senior citizens 60+)
- Rate: 10% TDS if interest exceeds threshold
- Form 15G/15H: Submit if income below taxable limit to avoid TDS
- PAN Required: 20% TDS if PAN not provided
- Interest Taxable: Added to income, taxed as per slab
Premature Withdrawal
- Allowed after minimum period (varies: 7 days to 3 months)
- Penalty: 0.5% - 1% reduction in interest rate
- Some banks: No penalty for senior citizens/medical emergencies
- Interest paid: At reduced rate for actual period held
Tax-Saver FD (80C)
- Lock-in: 5 years (no premature withdrawal)
- Tax Benefit: 80C deduction up to ₹1.5L
- Interest: Taxable (no exemption unlike PPF)
- Rate: Usually same as regular 5-year FD
- Who Should Choose: Those needing 80C benefit with safety
FD Interest Rates by Tenure (Indicative)
| Tenure | General | Senior (60+) |
|---|---|---|
| 7 days - 45 days | 3.0% | 3.5% |
| 46 days - 6 months | 5.5% | 6.0% |
| 6 months - 1 year | 6.5% | 7.0% |
| 1 year - 2 years | 7.0% | 7.5% |
| 2 years - 3 years | 7.25% | 7.75% |
| 3 years - 5 years | 7.5% | 8.0% |
| 5 years - 10 years | 7.0% | 7.5% |
💡 Rates vary by bank. Check with your bank for exact rates.
FD vs Other Options
- FD vs Savings: FD 6-8% vs Savings 3-4%; FD locked, Savings liquid
- FD vs RD: FD lumpsum, RD monthly; FD slightly higher rate
- FD vs PPF: PPF 7.1% tax-free vs FD 7% taxable; PPF 15-year lock-in
- FD vs Mutual Funds: FD safe 7% vs MF risky 10-12%; FD guaranteed
When to Choose FD?
- Need guaranteed returns (no market risk)
- Short to medium term (1-5 years)
- Park emergency fund surplus
- Senior citizens seeking regular income
- Conservative investors avoiding equity
Pro Tips
- Ladder FDs (different maturities) for liquidity + higher returns
- Choose cumulative for highest returns (compounding)
- Compare rates across banks (small finance banks offer 8-9%)
- Senior citizens: Always mention age for bonus rate
- Submit Form 15G/15H if no tax liability
- Avoid premature withdrawal (loses ~1% interest)
What this FD calculator does
The MONEX MINT FD calculator computes the maturity amount and total interest on any Indian fixed deposit using quarterly compounding (the default at all major banks). Apply the senior-citizen bonus rate, see TDS impact when interest crosses ₹50,000 (₹1,00,000 for seniors after Budget 2025), and compare cumulative versus non-cumulative options. Designed for retirees stacking laddered FDs, parents parking money for a child\'s tuition, or anyone comparing SBI, HDFC, ICICI, post office and small finance bank FD rates side-by-side.
How it's calculated
A = P × (1 + r/n)^(nt) Interest earned = A − P
- A — Maturity amount — principal plus compounded interest
- P — Principal — the amount you deposit
- r — Annual interest rate as a decimal (7% = 0.07)
- n — Compounding frequency per year — 4 for the standard quarterly compounding used by Indian banks
- t — Tenure in years
Example: ₹5,00,000 FD at 7% p.a. for 5 years (quarterly compounding)
- Principal P = ₹5,00,000 | Rate r = 7% = 0.07 | Tenure t = 5 years | n = 4 (quarterly)
- A = 5,00,000 × (1 + 0.07/4)^(4×5)
- A = 5,00,000 × (1.0175)^20
- A = 5,00,000 × 1.41478 = ₹7,07,389
- Interest earned = ₹7,07,389 − ₹5,00,000 = ₹2,07,389
- TDS (interest > ₹50K threshold): 10% × ₹2,07,389 = ₹20,739 deducted by the bank in the years interest accrues. Final tax depends on your slab when filing ITR.
Result: Maturity: ₹7,07,389 | Interest earned: ₹2,07,389 | Effective annual yield: 7.19%
Frequently asked questions
How is FD interest calculated in Indian banks?
Indian banks compound FD interest quarterly by default, using the formula A = P(1 + r/n)^(nt) where n = 4. So a ₹1,00,000 deposit at 7% for 5 years grows to 1,00,000 × (1 + 0.07/4)^(4×5) = ₹1,41,478. Cumulative FDs reinvest the interest each quarter; non-cumulative FDs pay it out monthly, quarterly or annually depending on the option you pick at booking.
How much extra interest do senior citizens get on FDs?
Senior citizens (60+) typically earn 0.50 percentage points more than standard rates at most public and private sector banks. Some banks (SBI WeCare, HDFC Senior Care, ICICI Golden Years) offer an additional 0.10-0.25% on FDs of 5+ years for super-seniors (80+). The bonus applies only on deposits in the senior citizen's sole or first-holder name, and only on rupee deposits (not NRE/NRO).
When is TDS deducted on FD interest?
TDS at 10% kicks in once your aggregate interest from all FDs at the same bank crosses ₹50,000 in a financial year (₹1,00,000 for senior citizens) — the threshold was raised in Budget 2025. If you do not submit your PAN, TDS is 20%. Submit Form 15G (under 60, taxable income below the basic exemption) or Form 15H (senior citizen, no tax payable) at the start of each FY to prevent TDS.
Is FD interest taxable even if no TDS is deducted?
Yes. FD interest is fully taxable as "Income from Other Sources" at your slab rate, regardless of whether the bank deducts TDS or not. Even if the bank does not deduct TDS (because interest is below the threshold), you must still declare the interest in your ITR and pay tax on it. Senior citizens get a separate ₹50,000 deduction on bank/post office interest under Section 80TTB.
What happens if I break my FD before maturity?
Most banks deduct a premature withdrawal penalty of 0.5% to 1.0% off the applicable rate, and recompute interest at the rate that would have applied for the actual period the FD ran. Some banks (e.g. SBI for FDs under ₹5 lakh booked for tenure ≤ 5 years) waive the penalty if you reinvest in another FD with them. Tax-saver FDs (5-year 80C lock-in) cannot be broken at all.
Should I choose cumulative or non-cumulative FD?
Cumulative is best if you do not need regular income — interest compounds quarterly and you receive principal plus accumulated interest at maturity, maximising the effective return. Non-cumulative pays out monthly/quarterly/yearly, suitable for retirees or those needing cash flow. The headline rate is identical; the difference is only in payout timing and the small benefit of compounding on the cumulative variant.
Are bank FDs safer than corporate FDs?
Yes. Scheduled bank FDs are insured up to ₹5 lakh per depositor per bank by the DICGC (a wholly-owned RBI subsidiary). Corporate FDs (NBFC and HFC FDs from Bajaj Finance, Shriram, LIC HFL etc.) typically offer 0.5-1.5% higher rates but carry credit risk — only choose AAA-rated issuers, and avoid concentrating more than 10-15% of your portfolio in any single corporate issuer.
Related calculators
FD rates change frequently — verify the current rate on your bank's website before investing. TDS thresholds and rules reflect Budget 2025 amendments effective FY 2025-26. Tax computation assumes Indian resident individual.