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FD Calculator
Fixed Deposit Maturity Calculator · All compounding frequencies · TDS · Senior citizen rates · Updated 2026
Cumulative & non-cumulativeTDS deductionSenior citizen +0.5%2026 bank rates
Enter your FD details
₹
₹1K₹1Cr
%
4%12%
months
1120
Compounding frequency
Payout type
Depositor type
PAN on record?
Maturity amount
₹6.16 L
after 36 months
Interest earned
₹1.16 L
at 7% quarterly
After TDS
₹6.04 L
TDS: ₹11,572 (10%)
TDS (Tax Deducted at Source) analysis
Total interest
₹1.16 L
TDS rate
10%
TDS deducted
₹11,572
Net maturity
₹6.04 L
Balance growth over time
InterestPrincipal
Start — ₹5.00 LMaturity — ₹6.16 L
How compounding frequency affects your maturity
₹5.00 L at 7% for 36 months
| Compounding | Maturity amount | Interest earned | vs Simple interest |
|---|---|---|---|
| Monthly | ₹6.16 L | ₹1.16 L | +₹11,463 |
| Quarterly(selected) | ₹6.16 L | ₹1.16 L | +₹10,720 |
| Half-yearly | ₹6.15 L | ₹1.15 L | +₹9,628 |
| Annually | ₹6.13 L | ₹1.13 L | +₹7,522 |
| Simple interest | ₹6.05 L | ₹1.05 L | — |
FD interest rates - major Indian banks (2026)
General rates for regular citizens. Senior citizen rates are typically 0.25–0.75% higher.
| Bank | 1 year | 2 years | 3 years | 5 years | Sr. citizen extra |
|---|---|---|---|---|---|
| SBI | 6.80% | 7.00% | 6.75% | 6.50% | +0.50% |
| HDFC Bank | 6.60% | 7.25% | 7.00% | 7.00% | +0.50% |
| ICICI Bank | 6.70% | 7.20% | 7.00% | 7.00% | +0.50% |
| Axis Bank | 6.70% | 7.25% | 7.10% | 7.00% | +0.75% |
| Kotak Mahindra | 7.10% | 7.25% | 7.00% | 6.20% | +0.40% |
| PNB | 6.75% | 7.00% | 6.75% | 6.50% | +0.50% |
| Bank of Baroda | 6.85% | 7.25% | 7.15% | 6.50% | +0.50% |
| IndusInd Bank | 7.75% | 7.75% | 7.25% | 7.25% | +0.50% |
| IDFC First Bank | 6.50% | 7.50% | 7.25% | 7.00% | +0.50% |
| Yes Bank | 7.75% | 8.00% | 8.00% | 7.75% | +0.50% |
| Small Finance Banks* | 9.00% | 9.00% | 8.50% | 8.00% | +0.50% |
*Rates indicative as of Jan 2026. *Small Finance Banks include AU, Equitas, ESAF, Jana, Suryoday, Ujjivan, etc. - offering higher rates with DICGC cover up to ₹5L. Always verify with your bank before investing.
Fixed Deposit Calculator - Everything You Need to Know
A Fixed Deposit (FD) is the most trusted savings instrument in India. You deposit a lump sum with a bank for a fixed tenure at a guaranteed interest rate. Unlike mutual funds, there is no market risk - your principal is safe and the return is known from day one.
FDs suit investors who need capital protection, predictable returns, or a parking place for short-term funds. They're ideal for emergency funds, short-term goals, and senior citizens seeking regular income. The key to maximising FD returns is choosing the right compounding frequency, bank, and understanding TDS implications.
Cumulative vs non-cumulative FD - which is right for you?
📈 Cumulative FD
Interest is compounded and added to the principal. The entire amount (principal + compounded interest) is paid out at maturity. Higher final payout because of interest-on-interest.
Best for:
Long-term wealth accumulation
No need for monthly income
Maximising returns over 2+ years
💰 Non-cumulative FD
Interest is paid out at regular intervals (monthly, quarterly, half-yearly, or annually). Principal is returned at maturity. Total interest earned is lower because it's not compounded.
Best for:
Retired individuals needing regular income
Supplementing monthly cash flow
Senior citizens with living expenses
TDS on FD interest - complete guide
Banks deduct TDS (Tax Deducted at Source) on FD interest under Section 194A. Here's everything you need to know:
| Scenario | TDS threshold | TDS rate | Action needed |
|---|---|---|---|
| Regular depositor, PAN submitted | ₹40,000/year | 10% | None — TDS auto-deducted |
| Senior citizen (60+), PAN submitted | ₹50,000/year | 10% | None — TDS auto-deducted |
| No PAN submitted | ₹40,000/year | 20% | Submit PAN to avoid excess TDS |
| Income below taxable limit (Form 15G) | Not applicable | 0% | Submit Form 15G at start of year |
| Senior citizen, low income (Form 15H) | Not applicable | 0% | Submit Form 15H at start of year |
| NRI depositors (FCNR/NRO accounts) | Any amount | 30%+ | TDS applies at higher rate |
Important
TDS is only a credit on account - not your final tax. If your total income is below the taxable threshold (₹2.5L or ₹7L in new regime), you can claim the TDS as a refund when filing your ITR. Alternatively, submit Form 15G (regular) or Form 15H (senior citizens) to request zero TDS deduction proactively.
5 strategies to maximise FD returns
1
FD laddering — don't put everything in one FD
Split your FD into multiple tenures (e.g. ₹5L into five ₹1L FDs maturing in 1, 2, 3, 4, 5 years). This ensures you always have maturing FDs without breaking a long-term FD. If rates rise, the maturing FDs can be reinvested at better rates.
2
Choose quarterly compounding over monthly where possible
Quarterly compounding generally gives a slightly better effective yield than monthly for the same nominal rate, because banks sometimes quote slightly higher nominal rates for quarterly compounding. Always compare the effective annual rate (EAR), not the nominal rate.
3
Submit Form 15G/15H to avoid unnecessary TDS
If your total income (including FD interest) is below the taxable limit, submit Form 15G (under 60) or Form 15H (60+) to your bank at the start of every financial year. This prevents TDS deduction entirely - you don't have to wait for a refund.
4
Consider small finance banks for higher rates
Small finance banks like Jana Bank, ESAF, AU, Equitas, and Ujjivan consistently offer 0.75–1.5% higher FD rates than major PSU banks. They're covered by DICGC insurance up to ₹5 lakh, making them safe for amounts within this limit.
5
Senior citizens: always ask for the special rate
Most banks offer 0.25–0.75% extra interest for depositors aged 60+. This isn't always applied automatically - ensure your KYC records your correct date of birth and ask the bank to apply the senior citizen rate. On ₹10L at 7.5% vs 7%, the extra ₹5,000/year interest compounds meaningfully over 5 years.
Compare FD vs SIP returns
Safe guaranteed returns vs market-linked growth - side by side
Frequently asked questions
Is FD interest taxable in India?▼
Yes. FD interest is fully taxable as 'Income from other sources' at your applicable income tax slab rate. If you're in the 30% bracket, you effectively earn 30% less than the stated FD rate. This is the major disadvantage of FDs compared to PPF (interest tax-free) and ELSS (LTCG at 10%). Banks deduct TDS if annual interest exceeds ₹40,000 (₹50,000 for senior citizens), but you must declare all FD interest in your ITR regardless of TDS.
What is the DICGC insurance on FD?▼
DICGC (Deposit Insurance and Credit Guarantee Corporation) insures bank deposits up to ₹5 lakh per depositor per bank. This ₹5 lakh limit covers principal + interest combined across all your accounts (savings, FD, RD) in that bank. If you want to deposit more than ₹5 lakh safely, spread it across multiple banks - each ₹5L portion in a separate bank is independently insured. This insurance covers scheduled commercial banks, small finance banks, and cooperative banks.
Can I break my FD before maturity?▼
Yes, almost all FDs can be broken prematurely. Most banks apply a penalty of 0.5–1% on the interest rate for premature closure. For example, a 3-year FD at 7% broken at the end of Year 2 might earn only 6.5% (applicable 2-year rate minus 0.5% penalty). Some FDs (like tax-saving 5-year FDs under Section 80C) cannot be broken before maturity. Always check premature withdrawal terms before opening an FD.
What is a tax-saving FD and how does it differ from a regular FD?▼
A tax-saving FD is a special 5-year FD that qualifies for Section 80C deduction - up to ₹1.5 lakh per year. Key differences: it cannot be broken before 5 years (no premature withdrawal), no loan can be taken against it, and the interest earned is fully taxable (unlike PPF which is EEE). The 80C deduction reduces your taxable income by the invested amount. Net benefit depends on your tax bracket — in the 30% bracket, ₹1.5L investment gives ₹45,000 immediate tax saving, but interest is taxed at 30% each year.
What is the difference between FD and RD?▼
A Fixed Deposit (FD) requires a single lump sum deposit at the start. A Recurring Deposit (RD) requires fixed monthly instalments throughout the tenure. FDs are for those with a lump sum to invest; RDs are for those who want to save monthly. Interest rates on FDs are generally slightly higher than equivalent tenure RDs. Mathematically, FD interest is higher than RD interest for the same total amount because FD funds are invested earlier and compound for longer.
Should I invest in FD or SIP in 2026?▼
They serve different purposes. FD is appropriate for: money you might need within 3 years, capital you cannot afford to lose, emergency funds, and investors who cannot tolerate volatility. SIP is appropriate for: long-term goals (5+ years), wealth creation above inflation, and investors who can tolerate short-term market volatility. The mathematically optimal strategy: keep 3–6 months of expenses in FD/liquid funds as emergency corpus, and invest all long-term savings in diversified equity SIPs. Using FD for 10+ year goals when inflation is 6% and FD rates are 7% means you're barely growing wealth in real terms.