FD Calculator
Calculate your Fixed Deposit maturity amount and interest earned
What is Fixed Deposit (FD)?
A Fixed Deposit is a financial instrument offered by banks and NBFCs that provides a higher interest rate than a regular savings account. You deposit a lump sum for a fixed tenure at a predetermined interest rate, and receive the principal plus interest at maturity.
FDs are one of the safest investment options in India, with deposits up to ₹5 lakh insured by DICGC (Deposit Insurance and Credit Guarantee Corporation).
FD Calculation Formula
A = P × (1 + r/n)^(n × t)
Where:
A = Maturity Amount
P = Principal Amount
r = Annual Interest Rate / 100
n = Compounding frequency per year
(Quarterly = 4, Monthly = 12, Half-yearly = 2, Yearly = 1)
t = Time period in years
Current FD Rates (2024–25)
Major bank FD rates for general public (1–3 year tenure): SBI 6.8%, HDFC Bank 7.0%, ICICI Bank 7.0%, Axis Bank 7.1%, Kotak Bank 7.1%. Senior citizens typically get 0.25–0.5% additional rate.
Frequently Asked Questions
Is FD interest taxable?
Yes. FD interest is fully taxable as per your income tax slab. Banks deduct TDS at 10% if interest exceeds ₹40,000 per year (₹50,000 for senior citizens). You can submit Form 15G/15H to avoid TDS if your income is below taxable limit.
Can I break FD before maturity?
Yes, most banks allow premature withdrawal with a penalty of 0.5–1% on the interest rate. Some tax-saving FDs (5-year lock-in) cannot be broken before maturity.
What is the difference between cumulative and non-cumulative FD?
Cumulative FDs reinvest the interest and pay the full amount at maturity — better for wealth building. Non-cumulative FDs pay interest at regular intervals (monthly/quarterly) — better for those needing regular income.