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Calculate FD returns with senior citizen benefits, tax planning & yearly breakdown. Compare cumulative vs non-cumulative FD. Free, accurate & updated for 2024-25!
Total: 1825 days
Interest reinvested and paid at maturity
* Rates are indicative and may vary. Please check with respective banks for current rates.
Guaranteed returns with principal protection
Extra 0.5% interest for senior citizens
Choose monthly, quarterly or cumulative interest
Calculate post-tax returns accurately
An FD Calculator (Fixed Deposit Calculator) is a free online financial tool that helps you calculate the maturity amount and interest earned on your Fixed Deposit investment. It provides accurate projections of your FD returns by considering factors like principal amount, interest rate, tenure, compounding frequency, and tax implications.
Fixed Deposit (FD) is one of the safest investment options offered by banks and NBFCs in India. You deposit a lump sum amount for a fixed period (7 days to 10 years) at a predetermined interest rate. FDs offer guaranteed returns, principal protection, and DICGC insurance coverage up to ₹5 lakhs per bank, making them ideal for risk-averse investors and senior citizens.
Our advanced FD calculator uses compound interest formula for cumulative FDs and simple interest for non-cumulative FDs. It considers your principal amount, interest rate, tenure (in years/months/days), compounding frequency (quarterly/monthly/half-yearly/yearly), senior citizen benefits (+0.5% extra), and tax bracket to give you accurate projections of your FD maturity value and post-tax returns.
Calculate FD returns in years, months, or days for precise planning
Automatic 0.5% extra interest rate for senior citizens (60+ years)
Compare both options - reinvested interest vs periodic payouts
Calculate post-tax returns based on your income tax bracket
Choose quarterly, monthly, half-yearly, or yearly compounding
Detailed table showing opening balance, interest, and closing balance
Compare FD rates across major banks (SBI, HDFC, ICICI, Axis)
Interactive charts showing principal, returns, and tax breakdown
Interest is compounded and reinvested. You receive principal + accumulated interest at maturity. Best for wealth creation and long-term goals.
Interest is paid out periodically (monthly/quarterly/yearly). Principal remains same and is returned at maturity. Ideal for retirees needing regular income.
Monthly compounding gives highest returns, followed by quarterly, half-yearly, and yearly. More frequent compounding = higher effective returns.
Maturity Amount = P × (1 + r/n)^(n×t)
Example: ₹1,00,000 at 7.5% for 5 years with quarterly compounding
Maturity = 1,00,000 × (1 + 0.075/4)^(4×5) = ₹1,45,161
Total Interest = P × r × t
Periodic Payout = (P × r) / Payout Frequency
Example: ₹1,00,000 at 7.5% for 5 years with monthly payout
Monthly Payout = (1,00,000 × 0.075) / 12 = ₹625/month
Total Interest = 1,00,000 × 0.075 × 5 = ₹37,500
EAR = (1 + r/n)^n - 1
This formula calculates the true annual return considering compounding effect. For example, 7.5% with quarterly compounding gives an effective rate of 7.71%, which is higher than the nominal rate.
FDs offer fixed, predetermined returns regardless of market conditions. Your interest rate is locked in at the time of investment, providing complete certainty about your earnings. No market volatility or risk to principal amount.
Your invested amount is 100% safe with DICGC insurance covering up to ₹5 lakhs per bank. Even if the bank fails, your principal and interest up to this limit are protected, making FDs one of the safest investment options.
Choose from a wide range of tenures - from 7 days to 10 years. Match your FD tenure with your financial goals, whether short-term (emergency fund) or long-term (retirement planning). Premature withdrawal option available with penalty.
Senior citizens (60+ years) get additional 0.25% to 0.75% interest rate, typically 0.5% extra. Higher TDS threshold of ₹50,000 vs ₹40,000 for regular citizens. Ideal for retirees seeking safe, regular income.
Get instant loans up to 90-95% of your FD value at interest rates just 1-2% above your FD rate. No need to break FD, maintain liquidity while earning interest. Quick approval with minimal documentation.
5-year tax-saving FDs qualify for deduction under Section 80C up to ₹1.5 lakhs. Combine tax benefits with guaranteed returns. Lock-in period ensures disciplined saving for long-term goals.
Split your investment across multiple FDs with different maturity dates (1-year, 2-year, 3-year, 4-year, 5-year). This provides regular liquidity, allows reinvestment at potentially higher rates, and reduces interest rate risk. Example: Invest ₹5 lakhs as ₹1 lakh each in 5 different tenures.
Related: Financial Calculators | Savings Calculator
Keep 3-6 months of expenses in short-term FDs (3-6 months tenure) for emergency needs. Better returns than savings account while maintaining reasonable liquidity. Consider sweep-in FD facility for instant access without breaking FD.
Related: Savings Calculator | Investment Calculator
Invest in non-cumulative FDs with monthly/quarterly payouts for regular income. Benefit from 0.5% extra interest rate. Spread across multiple banks to maximize DICGC insurance coverage. Combine with Senior Citizen Savings Scheme (SCSS) for optimal returns.
Related: Retirement Calculator | Pension Calculator
Invest up to ₹1.5 lakhs in 5-year tax-saving FDs under Section 80C. Lock-in period ensures disciplined saving. Combine with other 80C investments (PPF, ELSS, EPF) for comprehensive tax planning. Interest earned is taxable as per your slab.
Related: Income Tax Calculator | Investment Calculator
Match FD tenure with your financial goals - 1-2 years for vacation/car, 3-5 years for house down payment, 5-10 years for child education. Use cumulative FDs for maximum growth. Calculate required monthly investments using our calculator.
Related: Future Value Calculator | SIP Calculator
A Fixed Deposit (FD) is a financial instrument provided by banks and NBFCs where you deposit a lump sum amount for a fixed tenure at a predetermined interest rate. FDs offer guaranteed returns and are considered one of the safest investment options with principal protection and DICGC insurance up to ₹5 lakhs per bank. Interest rates typically range from 6% to 8% depending on tenure and bank.
FD interest is calculated using compound interest formula for cumulative FDs: Maturity Amount = P × (1 + r/n)^(n×t), where P is principal, r is annual interest rate, n is compounding frequency per year (quarterly=4, monthly=12), and t is time in years. For non-cumulative FDs with periodic payouts, simple interest is used: Total Interest = P × r × t.
Cumulative FD: Interest is compounded and reinvested, paid at maturity along with principal, offers higher returns due to compounding effect. Best for wealth creation. Non-cumulative FD: Interest is paid out periodically (monthly/quarterly/yearly), principal remains same and returned at maturity, suitable for regular income needs like retirees or those needing cash flow.
Yes, senior citizens (60 years and above) typically receive an additional 0.25% to 0.75% interest rate on FDs, with most banks offering 0.5% extra. For example, if regular rate is 7%, senior citizens get 7.5%. They also have a higher TDS threshold of ₹50,000 compared to ₹40,000 for regular citizens. Some banks offer super senior citizen rates (80+ years) with even higher benefits.
TDS (Tax Deducted at Source) of 10% is deducted if your total FD interest from a bank exceeds ₹40,000 in a financial year (₹50,000 for senior citizens). If you don't have PAN, TDS is 20%. You can submit Form 15G (below 60 years) or Form 15H (60+ years) to avoid TDS if your total income is below the taxable limit. TDS is just advance tax; final tax liability depends on your income tax slab.
Yes, premature withdrawal is generally allowed but usually attracts a penalty of 0.5% to 1% reduction in the interest rate. Some banks may also charge a processing fee of ₹100-500. For example, if FD rate is 7% and penalty is 1%, you'll receive 6% interest for the period held. Important: Tax-saving FDs have a mandatory 5-year lock-in period and cannot be withdrawn prematurely under any circumstances. Consider taking a loan against your FD instead of breaking it to maintain your returns.
Minimum FD amount varies by bank, typically starting from ₹1,000 to ₹10,000. Some banks allow FDs from as low as ₹100 for minors. There is no maximum limit for FD investments, but DICGC insurance covers only up to ₹5 lakhs per bank (principal + interest). For amounts above this, consider spreading across multiple banks to maximize insurance coverage.
Yes, FD interest is fully taxable as per your income tax slab. It is added to your total income under "Income from Other Sources" and taxed accordingly (5%, 10%, 15%, 20%, or 30% based on your slab). However, tax-saving FDs (5-year lock-in) qualify for deduction under Section 80C up to ₹1.5 lakhs, though the interest earned is still taxable. There's no capital gains tax as FDs are debt instruments.
Monthly compounding gives the highest returns, followed by quarterly, half-yearly, and yearly. The more frequent the compounding, the higher your effective returns due to interest earning interest more often. For example, ₹1 lakh at 7.5% for 5 years: Monthly compounding = ₹1,45,465, Quarterly = ₹1,45,161, Yearly = ₹1,43,563. Most banks offer quarterly compounding as standard for cumulative FDs.
FD laddering involves splitting your investment across multiple FDs with different maturity dates (e.g., 1-year, 2-year, 3-year, 4-year, 5-year). This provides regular liquidity as one FD matures every year, allows reinvestment at potentially higher rates, and reduces interest rate risk while maintaining better returns than keeping all money in short-term FDs. Example: Invest ₹5 lakhs as ₹1 lakh each in 5 different tenures.
Yes, most banks offer loans against FD up to 90-95% of the FD value. Interest rate is typically 1-2% above your FD rate. For example, if FD rate is 7%, loan rate would be 8-9%. Benefits: No need to break FD, instant approval, minimal documentation, continue earning FD interest. Your FD acts as collateral, so no additional security required. Ideal for short-term liquidity needs.
It depends on your risk appetite and goals. FD: Guaranteed returns (6-8%), zero risk, suitable for short-term goals and risk-averse investors. SIP: Potentially higher returns (10-15% in equity funds), market-linked risk, suitable for long-term wealth creation (10+ years). Ideal strategy: Use FDs for emergency fund and short-term goals, SIP for long-term wealth creation. Use our SIP Calculator to compare.
Calculate in years, months, or days - most calculators only support years. Perfect for short-term FDs.
6 tax brackets with post-tax returns calculation. Competitors show only pre-tax returns.
Automatic 0.5% rate addition with one click. Compare regular vs senior citizen returns instantly.
Quarterly, monthly, half-yearly, yearly - see exact difference in returns for each option.
Compare both FD types with periodic payout calculations. Most calculators show only cumulative.
Detailed opening balance, interest earned, and closing balance for each year. Track growth precisely.
Compare FD rates across SBI, HDFC, ICICI, Axis Bank. Make informed decisions quickly.
Interactive charts showing principal, returns, and tax breakdown. Better than plain numbers.
Know when TDS will be deducted (₹40K/₹50K threshold). Plan Form 15G/15H submission.
Fully optimized for mobile, tablet, and desktop. Calculate FD returns on any device.
Comprehensive guide with formulas, strategies, FAQs. Learn while you calculate.
Links to SIP, Compound Interest, ROI calculators. Complete financial planning ecosystem.
This FD Calculator is developed and maintained by the CalcFinex Financial Tools Team, a group of financial analysts and software engineers dedicated to providing accurate, user-friendly financial calculators. Our tools are used by thousands of investors across India for financial planning and decision-making.
Our Methodology: We use industry-standard compound interest formulas validated against actual bank FD calculations. Our calculator is regularly updated to reflect current banking practices, tax regulations, and RBI guidelines. All calculations are performed in real-time with precision up to 2 decimal places.
Data Sources: Interest rates and banking information are sourced from official bank websites, RBI publications, and verified financial institutions. We update our reference rates quarterly to ensure accuracy.
Disclaimer: This FD calculator provides estimates based on the inputs provided. Actual returns may vary based on bank policies, interest rate changes, and compounding methods. Interest rates shown in bank comparison are indicative and subject to change. FD interest is taxable as per your income tax slab. Please verify current rates with respective banks before making investment decisions. This tool is for informational purposes only and does not constitute financial advice. Consult a certified financial advisor for personalized investment guidance.