Fixed Deposit (FD) Calculator

What is an FD?

A fixed deposit locks in a lump sum with a bank or NBFC for a set period at a fixed interest rate. You receive the principal with interest at maturity. Premature withdrawal is usually permitted but typically costs 0.5–1% off the applicable rate.

How this calculator works

It applies compound interest using the principal, rate, tenure, and compounding frequency you enter. Actual bank calculations may round differently or use tenure-specific slab rates, so treat the output as an estimate.

Common FD types

• • Regular FD — tenure from 7 days to 10 years; interest paid at maturity or periodically
• • Tax-saving FD — 5-year lock-in; counts under Section 80C, but interest is taxable
• • Senior citizen FD — usually 0.5–0.75% higher rate for depositors aged 60+

Tax and TDS

• • FD interest is added to your income and taxed at your slab rate
• • Banks deduct 10% TDS if annual interest crosses ₹40,000 (₹50,000 for senior citizens)
• • File Form 15G/15H if your total income is below the taxable limit

Withdrawal and loan

• • Premature closure: interest is recalculated for the period held, minus a penalty
• • Tax-saving FDs cannot be closed before 5 years
• • Banks generally lend up to ~90% of the FD value without breaking the deposit

Before you book an FD

Rates differ by bank and tenure — check the rate card, not just the headline number. DICGC insurance covers ₹5 lakh per bank (principal plus interest together). Splitting deposits across banks keeps you within that limit. Quarterly compounding usually beats yearly by a small margin on the same rate.