FD Calculator
Calculate your Fixed Deposit maturity amount and interest earned. Adjust principal, rate, tenure, and compounding frequency.
FD Calculator
Frequently Asked Questions
How is FD interest calculated?
FD interest is calculated using the compound interest formula: A = P(1 + r/n)^(nt), where P is your principal amount, r is the annual interest rate, n is the compounding frequency (quarterly = 4, annually = 1), and t is the tenure in years.
What is the best compounding frequency for FD?
Quarterly compounding gives higher returns than annual compounding for the same interest rate. Most banks in India offer quarterly compounding on fixed deposits by default.
Is FD interest taxable in India?
Yes, FD interest is fully taxable as per your income tax slab. Banks deduct TDS at 10% if annual interest exceeds ₹40,000 (₹50,000 for senior citizens). You can claim a refund while filing your ITR if your total income is below the taxable limit.
What is the current FD interest rate in India 2026?
As of 2026, major banks offer FD rates between 6.5% to 8% for general citizens and 7% to 8.5% for senior citizens. Small finance banks and NBFCs may offer slightly higher rates.
How to Use This FD Calculator
Enter your principal amount, the annual interest rate offered by your bank, the tenure in years, and select the compounding frequency. The calculator will show you the total maturity amount and interest earned.
Benefits of Fixed Deposits
- Guaranteed returns with zero market risk
- Flexible tenure from 7 days to 10 years
- Senior citizens get 0.25% to 0.50% extra interest
- Tax-saving FD under Section 80C (5-year lock-in)