FD Calculator — Calculate Fixed Deposit Maturity and Returns
Find out exactly how much your Fixed Deposit will grow to. Enter deposit amount, interest rate, tenure, and compounding frequency — our FD calculator instantly shows maturity value and total interest earned. Use it to compare FD schemes across banks and plan safe, guaranteed returns.
FD Calculator
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About the Author
Mithun Srivastava is the founder of InvestWithMithun.com, a free stock market education platform for Indian investors. With a passion for making finance accessible to everyone, Mithun creates practical guides, calculators, and glossary resources to help beginners start their investing journey with confidence.
What Is an FD Calculator?
A Fixed Deposit calculator shows the maturity value and interest earned on a lump-sum deposit held for a fixed tenure at a fixed interest rate. It removes the guesswork of compound interest math — one of the most common personal finance calculations in India.
How the FD Calculator Works
Enter deposit amount, annual interest rate, tenure, and compounding frequency (monthly, quarterly, half-yearly, annually). The calculator returns maturity value, total interest earned, and effective annual yield.
The FD Formula
A = P × (1 + r/n)^(n×t)
Where A = Maturity amount, P = Principal, r = Annual interest rate (decimal), n = Compounding frequency per year, t = Tenure in years.
Example: ₹5 Lakh FD for 5 Years at 7.25% (Quarterly)
- Principal: ₹5,00,000
- Rate: 7.25% p.a.
- Tenure: 5 years
- Compounding: Quarterly
- Maturity value: ₹7,16,593
- Interest earned: ₹2,16,593
Current FD Rates in India (April 2026)
| Bank | 1 Year | 3 Years | 5 Years | Senior 5Y |
|---|---|---|---|---|
| SBI | 6.80% | 6.75% | 6.50% | 7.50% |
| HDFC Bank | 6.60% | 7.00% | 7.00% | 7.50% |
| ICICI Bank | 6.70% | 7.00% | 7.00% | 7.50% |
| Axis Bank | 6.70% | 7.10% | 7.00% | 7.75% |
| AU SFB | 7.25% | 7.50% | 7.50% | 8.00% |
| Post Office TD | 6.90% | 7.10% | 7.50% | — |
When FD Is the Right Choice
- You need capital protection with zero risk
- You have a defined goal within 6 months to 5 years
- You are a senior citizen looking for steady income
- You want to park funds for tax-saving (5-year tax-saving FD under 80C)
- You need a liquid emergency buffer
FD Tax Rules in India
- Interest earned is taxable as income from other sources
- TDS at 10% if interest exceeds ₹40,000 per year (₹50,000 for seniors)
- No separate LTCG/STCG — added to income and taxed at slab rate
- 5-year tax-saving FDs qualify for 80C (but interest is still taxable)
Frequently Asked Questions
Which bank offers the highest FD interest rate in India?
Small finance banks like AU SFB, Equitas, and Jana typically offer 7.5–8.5% — the highest among regulated banks. But investments above ₹5 lakh per bank are not covered by DICGC insurance.
Is FD interest taxable?
Yes. FD interest is added to your total income and taxed at your slab rate. The bank deducts 10% TDS if annual interest exceeds ₹40,000 (₹50,000 for senior citizens).
What is the difference between cumulative and non-cumulative FD?
Cumulative FD: interest compounds and is paid only at maturity. Non-cumulative: interest is paid out monthly/quarterly/annually. Cumulative gives higher maturity value.
Can I break an FD before maturity?
Yes, but usually with a 0.5–1% penalty on the applicable rate. Some banks offer penalty-free FDs if you notify in advance, but these have slightly lower rates.
Are FDs safe?
Bank FDs in India are insured up to ₹5 lakh per depositor per bank under DICGC. For amounts above this, diversify across banks.
What is a tax-saving FD?
A 5-year fixed deposit with lock-in that qualifies for deduction under Section 80C (up to ₹1.5 lakh). Premature withdrawal is not allowed. Interest remains taxable.
Is FD better than a savings account?
Yes, for money you do not need immediately. FDs offer 2–4% more than savings account rates.
Should senior citizens prefer FD?
For guaranteed income with capital safety, yes. Senior citizens get an extra 0.5% rate and a higher TDS threshold.