🏦 FD Calc India

Free FD Calculator
for Indian Investors

Calculate fixed deposit maturity, compare cumulative vs non-cumulative returns, check TDS impact, and see how senior citizen rates boost your earnings.

  • ✓ Cumulative & Non-Cumulative FD
  • ✓ Bank rate comparison
  • ✓ TDS impact calculation
  • ✓ Senior citizen rates (+0.50%)
  • ✓ Indian number format (₹1,00,000)

Did you know? As of 2026, Indian banks hold over ₹200 lakh crore in fixed deposits, making FD the most popular savings instrument in India (RBI data).

₹1,00,000
₹10,000₹1,00,00,000
7%
1%15%
Tenure
5 Years
1 Years10 Years
Senior Citizen (+0.5%)

Principal

₹1,00,000

Total Interest

₹41,478

Maturity Amount

₹1,41,478

Year-by-Year Breakdown

YearOpening BalanceInterestClosing 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?

A Fixed Deposit (FD) is a savings instrument offered by banks and NBFCs in India where you lock in a lump sum for a fixed period at a guaranteed interest rate. Unlike market-linked investments, FD returns are predictable and your principal is protected. Deposits up to ₹5 lakh per bank are insured by DICGC, an RBI subsidiary, making FDs one of the safest investment options available to Indian investors.

How FD Interest Works

Indian banks typically compound FD interest quarterly. In a cumulative FD, interest is reinvested and paid at maturity along with principal — ideal for wealth building. In a non-cumulative FD, interest is paid out at regular intervals (monthly, quarterly, or yearly) — suitable for retirees needing regular income. The formula is: A = P × (1 + r/n)^(n×t), where P is principal, r is annual rate, n is compounding frequency, and t is tenure in years.

How to Use This Calculator

1

Enter Deposit Amount

Set the principal amount you want to deposit in an FD.

2

Set Rate & Tenure

Enter the bank's FD interest rate and your preferred tenure.

3

Get Maturity Value

See maturity amount, total interest earned, and effective yield.

Fixed Deposits in India — Key Numbers

₹200L Cr+

FD deposits in Indian banks (RBI 2026)

6.5–8.5%

Typical FD interest rates in 2026

₹5 Lakh

DICGC insurance per depositor per bank

5 Years

Tax-saving FD lock-in under Section 80C

🏛️

Looking for guaranteed, tax-free returns?

Compare your FD returns with PPF using our PPF Calculator. PPF offers 7.1% tax-free returns with EEE status under Section 80C.

Try PPF Calculator →
📈

Want higher returns with SIP investing?

Explore how SIP in mutual funds can potentially deliver 12–15% CAGR over the long term using our SIP Calculator.

Try SIP Calculator →

Frequently Asked Questions

What is a fixed deposit?+
A Fixed Deposit (FD) is a savings instrument where you deposit a lump sum with a bank or NBFC for a fixed tenure at a guaranteed interest rate. FDs are one of India's safest investments, with DICGC insurance covering up to ₹5 lakh per depositor per bank.
How is FD interest calculated?+
FD interest uses the compound interest formula: A = P × (1 + r/n)^(n×t). Indian banks typically compound quarterly (n=4). For a ₹1,00,000 FD at 7% for 5 years, the maturity amount is approximately ₹1,41,478.
What is the difference between cumulative and non-cumulative FD?+
Cumulative FD compounds interest and pays everything at maturity — better for wealth building. Non-cumulative FD pays interest at regular intervals (monthly/quarterly/yearly) — ideal for retirees needing regular income. Cumulative FDs earn slightly more due to compounding.
What are current FD rates in India?+
As of 2026, FD rates range from 6.5% to 8.5% depending on the bank and tenure. Large banks like SBI offer 6.5–7.1%, while small finance banks offer up to 8.5%. Senior citizens get an extra 0.25–0.50% above regular rates.
Is FD interest taxable?+
Yes, FD interest is fully taxable under 'Income from Other Sources' at your applicable income tax slab rate. It must be reported in your ITR regardless of whether TDS was deducted.
What is TDS on fixed deposit?+
Banks deduct 10% TDS when your total FD interest from that bank exceeds ₹40,000 per year (₹50,000 for senior citizens). Without PAN, TDS is 20%. TDS applies on accrued interest, not just paid interest — so cumulative FDs also attract annual TDS.
How to avoid TDS on FD?+
Submit Form 15G (below age 60) or Form 15H (senior citizens 60+) to your bank at the start of each financial year. This is a declaration that your total income is below the taxable limit. Filing a false declaration can attract penalties under the Income Tax Act.
What is the minimum FD amount?+
Most public sector banks accept FDs from ₹1,000. Private banks may require ₹5,000–₹10,000 minimum. For tax-saving FDs under Section 80C, the same bank minimum applies but the deduction is capped at ₹1.5 lakh per year.
Can I break FD before maturity?+
Yes, most banks allow premature withdrawal with a penalty of 0.50–1% on the applicable rate. The interest rate is recalculated for the actual tenure held at a reduced rate. Tax-saving FDs with a 5-year lock-in cannot be broken before maturity.
What is DICGC insurance for FD?+
DICGC, an RBI subsidiary, insures bank deposits up to ₹5 lakh per depositor per bank. This covers FDs, savings, current, and recurring deposits combined. To protect larger amounts, spread your deposits across multiple banks.
What is a tax-saving FD?+
A tax-saving FD has a mandatory 5-year lock-in and qualifies for deduction under Section 80C (up to ₹1.5 lakh/year). Interest is still taxable. It cannot be prematurely withdrawn or pledged as loan collateral. Only scheduled banks can offer tax-saving FDs.
FD vs savings account — which is better?+
FDs offer 6.5–8.5% returns vs 2.5–4% for savings accounts. However, savings accounts provide instant liquidity. The ideal approach: keep 3–6 months of expenses in savings for emergencies, and invest surplus in FDs for higher guaranteed returns.
Do senior citizens get higher FD rates?+
Yes. All major Indian banks offer 0.25–0.50% additional interest for senior citizens (60+). Some banks offer a further 0.10–0.25% for super senior citizens (80+). Senior citizens also enjoy a higher TDS exemption threshold of ₹50,000 on FD interest.
What is FD laddering?+
FD laddering means splitting your total deposit across multiple FDs with staggered maturity dates. Instead of ₹5 lakh in one 5-year FD, create five FDs of ₹1 lakh each maturing in 1, 2, 3, 4, and 5 years. This gives you regular liquidity while earning higher long-term rates.
How safe are bank FDs?+
Bank FDs are among India's safest investments. Principal and interest are guaranteed, with no market risk. DICGC insures up to ₹5 lakh per depositor per bank. Public sector bank FDs carry implicit government backing, making them virtually risk-free for insured amounts.
What is the best FD tenure for maximum returns?+
In 2026, most banks offer the highest rates for 1–3 year tenures (7–8.5%). Very short (under 6 months) and very long tenures (over 5 years) often have lower rates. Compare rates across tenures and consider FD laddering to balance returns with liquidity needs.

See full FD glossary →

Learn More About Fixed Deposits

What Is a Fixed Deposit? The Complete Guide for Indian Investors

Everything you need to know about Fixed Deposits in India — how they work, types, current rates at major banks, and how FDs compare to savings accounts.

6 min read

FD Interest Rates in India (April 2026): Bank-by-Bank Comparison

Compare the latest FD interest rates across SBI, HDFC, ICICI, Axis, PNB, Kotak, Post Office, and Bajaj Finance for both general and senior citizens.

7 min read

TDS on Fixed Deposit: Rules, Limits, and How to Save Tax

Understand TDS rules on FD interest in India — the ₹40,000 threshold, senior citizen exemptions, Form 15G/15H, and strategies to legally minimize your tax.

7 min read

FD vs Mutual Fund: Which Should Indian Investors Choose?

An honest comparison of Fixed Deposits and Mutual Funds — returns, risk, liquidity, and tax treatment. No sales pitch, just data and practical guidance.

7 min read

View all articles →

Common FD Use Cases

How a Retiree Can Earn ₹25,000/Month from FD Interest

A practical plan showing how to structure non-cumulative FDs across banks to generate ₹25,000 in monthly interest income after retirement.

Building an Emergency Fund with Short-Term Fixed Deposits

How to park 6 months of expenses in a combination of savings and short-term FDs to earn more without sacrificing quick access.

How to Save Tax with a 5-Year Tax-Saving Fixed Deposit

A step-by-step guide to using Section 80C tax-saving FDs — eligibility, lock-in rules, how to open one, and comparing it with other 80C options.

Planning for a Wedding: How to Grow ₹10 Lakh in 3 Years

A real-world savings plan using FDs and systematic deposits to accumulate ₹10,00,000 for a wedding in 3 years with minimal risk.

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