Use the free FD (Fixed Deposit) Calculator below to estimate your maturity value, total interest earned, and post-tax returns on a bank or NBFC fixed deposit. Enter your deposit amount, interest rate, tenure, and compounding frequency, then hit calculate.
FD Calculator
Estimate your Fixed Deposit maturity value, interest earned, and post-tax returns
Enter Your Details
How to Use This FD Calculator
Enter the amount you want to deposit, the interest rate offered by your bank, and the tenure in years and months. Choose the compounding frequency your bank uses — most Indian banks compound FD interest quarterly — and tick the senior citizen box if it applies. Click calculate to see your maturity value, total interest earned, and an estimate of post-tax returns based on your income tax slab.
How FD Maturity Value Is Calculated
A cumulative fixed deposit compounds interest at fixed intervals — monthly, quarterly, half-yearly, or yearly — and reinvests it back into the principal, so you receive the full amount only at maturity.
Maturity Value = P × (1 + r/n)n×t
Where P is the principal deposited, r is the annual interest rate, n is the number of times interest compounds per year, and t is the tenure in years. A higher compounding frequency (monthly vs yearly) results in a marginally higher maturity value for the same nominal interest rate, since interest starts earning interest sooner.
FD Rules You Should Know
- Cumulative vs non-cumulative. This calculator assumes a cumulative FD, where interest is reinvested and paid at maturity. Non-cumulative FDs pay interest out monthly, quarterly, or annually instead, so the final maturity value would only be the principal.
- Taxability. FD interest is fully taxable as "Income from Other Sources" at your income tax slab rate — it does not enjoy any special tax treatment like PPF.
- TDS on interest. Banks deduct TDS if your total FD interest from that bank exceeds ₹40,000 in a financial year (₹50,000 for senior citizens). You can avoid TDS by submitting Form 15G/15H if your total income is below the taxable limit.
- Premature withdrawal. Breaking an FD before maturity usually attracts a penalty of 0.5%–1% on the applicable interest rate, and the bank recalculates interest at the rate applicable for the period the deposit actually remained.
- Senior citizen benefit. Most banks offer an additional 0.25%–0.75% (commonly 0.50%) interest rate to senior citizens on regular FDs.
Benefits of Using This Calculator
- Compare tenures quickly. See how locking your money for a longer or shorter period changes the maturity value.
- Understand real, post-tax returns. FD interest is fully taxable, so seeing the post-tax maturity value at your slab gives a more realistic picture than the advertised rate.
- Check compounding impact. Toggle between monthly, quarterly, half-yearly, and yearly compounding to see how it affects your final corpus.
- Plan senior citizen deposits. Instantly see the extra amount senior citizen FD rates add to your maturity value.
- No sign-up needed. Free, mobile-friendly, and instant — get results without sharing any personal details.
Frequently Asked Questions
How is FD interest calculated in India?
Most banks compound FD interest quarterly, using the formula Maturity Value = P × (1 + r/n)^(n×t), where P is the deposit amount, r is the annual rate, n is the compounding frequency, and t is the tenure in years. Some banks or schemes may compound monthly, half-yearly, or annually instead.
Is FD interest taxable?
Yes. FD interest is fully taxable under "Income from Other Sources" at your applicable income tax slab rate, regardless of whether it's paid out or reinvested. Banks also deduct TDS if the interest from a single bank exceeds ₹40,000 in a financial year (₹50,000 for senior citizens).
What happens if I break my FD before maturity?
Most banks allow premature withdrawal but charge a penalty, typically 0.5% to 1% lower than the rate applicable for the period the deposit actually stayed with the bank. Some special or tax-saver FDs do not allow premature withdrawal at all.
What is the difference between cumulative and non-cumulative FDs?
In a cumulative FD, interest is compounded and paid out as a lump sum along with the principal at maturity — ideal for wealth accumulation. In a non-cumulative FD, interest is paid out monthly, quarterly, or annually as regular income, which suits those who need periodic cash flow, such as retirees.
Do senior citizens get a higher FD interest rate?
Yes, most Indian banks offer an additional 0.25% to 0.75% interest rate to senior citizens over the regular FD rate, with 0.50% being the most common premium. Some banks also run special senior-citizen-only schemes with even higher rates.
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