FD Calculator

Find the maturity amount and interest on a bank fixed deposit. Most Indian banks compound FD interest quarterly.

Deposit amount (₹)

Interest rate % per year

Years

+ Months

Compounding

Your tax slab

Maturity amount

₹0

₹0Interest earned

₹0Tax on interest (approx.)

₹0Interest after tax

0%Effective yearly yield

FD maturity formula

Maturity = P × (1 + r ÷ n)^{n × t}

P is the deposit, r is the yearly rate as a decimal, n is the number of times interest is compounded each year (4 for quarterly) and t is the time in years.

Effective yield

Because of quarterly compounding, a 7% FD actually earns about 7.19% a year. The calculator shows this as the effective yearly yield, which is the fair number to compare with other investments.

Tax and TDS on FDs

FD interest is fully taxable at your slab rate. The calculator estimates tax including 4% cess so you can see the real return. Banks deduct 10% TDS when interest from one bank crosses ₹50,000 a year (₹1 lakh for seniors). Any extra tax is paid when you file your return.

Better options to compare

For tax-free returns compare the PPF calculator. For long-term growth, look at a SIP. If you are in the 30% slab, the post-tax return of an FD can be below inflation.

Frequently asked questions

How is FD interest calculated in India?

Most banks compound interest quarterly: Maturity = P × (1 + r/4)^(4 × years), where r is the yearly rate as a decimal.

Is TDS deducted on FD interest?

Banks deduct 10% TDS if your FD interest from that bank is more than ₹50,000 in a year (₹1 lakh for senior citizens). If your total income is below the taxable limit, submit Form 15G (or 15H for seniors) to avoid TDS.

Is FD interest taxable?

Yes. FD interest is added to your income and taxed at your slab rate, in both regimes.

What is the FD insurance limit?

Deposits are insured by DICGC up to ₹5 lakh per depositor per bank, including interest.

Last updated: 2026-10-31