FD Calculator

Use what your bank applies to your deposit. Most Indian banks compound cumulative FDs every quarter. More frequent compounding pays a little more: ₹1,00,000 at 7% for 5 years matures to ₹1,40,255 with yearly compounding, ₹1,41,478 with quarterly, and ₹1,41,763 with monthly.

Yes. FD interest is added to your income and taxed at your slab rate, even on a cumulative FD where you receive it only at maturity.

The bank deducts TDS if your interest from that bank is more than ₹50,000 in a tax year (₹1,00,000 for senior citizens). If your total income is below the taxable limit, you can give the bank a self-declaration so it does not deduct TDS.

A 5-year tax-saving FD with a scheduled bank qualifies for a deduction under Section 123 of the Income-tax Act, 2025 (the old Section 80C), within the overall ₹1,50,000 limit — but only under the old tax regime. The money is locked in for the full 5 years, and the interest is still taxable.

Many banks pay senior citizens a higher rate than other depositors. Enter the rate your bank offers you and the calculator will use it.

Some banks pay simple interest on deposits shorter than 6 months, round interest differently, or count days rather than months. This calculator compounds throughout, so very short deposits may show slightly more than the bank pays.

Most banks allow it, usually with a penalty such as a lower interest rate for the period you held the deposit. The exact rule depends on your bank and the type of FD; tax-saving FDs cannot be closed before 5 years.