How is FD interest taxed?

FD interest is taxed at your income slab rate. Banks deduct 10% TDS if interest exceeds ₹40,000 (₹50,000 for seniors) per year per bank.

Cumulative vs non-cumulative FD?

Cumulative FDs reinvest interest and pay at maturity. Non-cumulative FDs payout periodically — useful for retirees needing income.

Can I break an FD early?

Yes, but you'll pay a 0.5–1% penalty on the interest rate. The maturity value is recalculated at the lower rate for the period held.

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Savings

FD Calculator

See how your fixed deposit grows over time with flexible compounding options.

Inputs

Principal

₹1,000₹1,00,000₹1,00,00,000

Annual rate

1%715%

Tenure

yrs

1 yrs520 yrs

Compounding

Results

Principal

₹1,00,000

Interest

₹41,478

Maturity

₹1,41,478

What is an FD Calculator?

A Fixed Deposit (FD) calculator helps you compute the maturity value of a lump-sum investment at a bank or NBFC for a fixed tenure at a fixed rate.

FDs offer guaranteed returns and are insured up to ₹5L per bank under DICGC. They are taxed at your slab rate, so high-bracket investors should compare with arbitrage funds or G-Secs.

FD formula

M = P × (1 + r/n)^(n × t)

M — Maturity value
P — Principal deposit
r — Annual interest rate (decimal)
n — Number of compounding periods per year
t — Tenure in years

Example: ₹1L for 5 years at 7%

Principal: ₹1,00,000
Rate: 7%
Tenure: 5 years
Compounding: Quarterly
Maturity value: ₹1,41,478
Interest earned: ₹41,478

Quarterly compounding adds ~₹1,500 over annual compounding for the same FD.

Frequently asked

Why FDs

1Guaranteed returns regardless of market conditions.
2DICGC insurance up to ₹5L per bank.
3Flexible tenures from 7 days to 10 years.
4Senior citizens get higher rates (0.25–0.50%).
5Useful for short-term parking or emergency funds.

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