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FD Calculator

Calculate fixed deposit maturity amount and interest earned for any tenure and interest rate.

Fixed Deposit Details

About This Calculator

Fixed Deposits (FDs) are the most trusted savings instrument in India, offering guaranteed returns at a fixed interest rate. This calculator computes the exact maturity amount using the compound interest formula as applied by Indian banks including SBI, HDFC, ICICI, and others.

How to Use This Calculator

  1. 1Enter the FD principal amount in rupees
  2. 2Enter the annual interest rate offered by your bank
  3. 3Enter the FD tenure in years and months
  4. 4Select the compounding frequency (most Indian banks use quarterly)
  5. 5Click Calculate to see maturity amount and interest earned

Formula Used

Maturity = P × (1 + r/n)^(n×t)

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FAQ

Frequently Asked Questions

Common questions about the fd calculator answered.

Which Indian bank offers the highest FD interest rate?+
Small finance banks like Unity Small Finance Bank, Suryoday SFB, and Jana SFB often offer rates of 8 to 9 percent. Larger banks like SBI, HDFC, and ICICI offer 6.5 to 7.5 percent for regular customers and 7 to 8 percent for senior citizens (who get an additional 0.25 to 0.5 percent).
Is FD interest taxable?+
Yes. FD interest is fully taxable as per your income tax slab. Banks deduct TDS at 10 percent if annual interest exceeds Rs 40,000 (Rs 50,000 for senior citizens). You must declare all FD interest in your ITR regardless of whether TDS was deducted.
What is the difference between cumulative and non-cumulative FD?+
In cumulative FD, interest is compounded and paid at maturity. In non-cumulative FD, interest is paid out periodically (monthly or quarterly). Cumulative FDs generate higher total returns due to compounding but you do not receive regular income from them.
Can I break my FD before maturity?+
Yes, most banks allow premature FD withdrawal with a penalty of 0.5 to 1 percent less than the applicable rate. Some banks offer special FDs without premature withdrawal penalties. Always check the terms before opening an FD.

FD vs SIP — Which is Better?

FDs offer guaranteed returns of 6.5 to 8.5 percent with zero risk, making them ideal for short-term goals (1 to 3 years) and capital preservation. SIPs target 10 to 15 percent returns over 5 to 10 years but carry market risk. The right choice depends on your time horizon, risk tolerance, and financial goals. For emergency funds and short-term needs, FD wins. For long-term wealth creation, SIP typically outperforms.

  • FD for 1 to 3 year time horizons
  • SIP for 5 to 10 year wealth creation goals
  • Senior citizens benefit from higher FD rates
  • Both can be held simultaneously in a balanced portfolio

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