What makes this calculator different
Maturity uses quarterly compounding, the convention most Indian banks follow for cumulative FDs, and splits the result into deposit vs interest earned. Enter the rate your bank quotes (including any senior-citizen uplift yourself); TDS and tax on the interest are not deducted in the figure shown.
Common Questions
FD Calculator FAQs
Common questions about the FD Calculator and how to read its results.
Q01
How is FD maturity calculated?
Compound interest: M = P × (1 + r/n)^(n×t), where P is principal, r is annual rate, n is compounding frequency (1=annual, 4=quarterly, 12=monthly), and t is years. Banks typically compound quarterly for FDs.
Q02
Is FD interest taxable?
Yes. FD interest is fully taxable at your income slab rate. Banks deduct TDS at 10% (with PAN) once interest from a bank crosses the annual threshold, which is Rs 50,000 (Rs 1 lakh for senior citizens) from FY 2025-26. Submit Form 15G/15H if your total income is below the taxable limit. The calculator shows pre-tax maturity.
Q03
Senior citizen FD rates — how much higher?
Senior citizens (60+) typically get 0.25%–0.75% higher rates, varying by bank and tenure. Enter the senior-citizen rate your bank quotes to see the maturity at that rate.
Q04
What is the safest tenure for an FD in 2026?
1–3 years balances rate lock-in with liquidity. Rates above 7.5% are unusual for AAA-rated banks; if a small bank offers 9%+, check DICGC cover (Rs 5 lakh per depositor per bank) before pledging large amounts.
Q05
Can I break an FD before maturity?
Yes, with a 0.5%–1% penalty on the applicable rate. The bank pays the rate that applied to the tenure you actually held, minus the penalty. Liquid sweep FDs allow penalty-free partial withdrawal.
Q06
FD vs RD vs debt mutual fund — which is best?
FD: simple, guaranteed, taxable at slab. RD: same as FD but monthly contribution. Debt MF: same risk profile but more tax-efficient on gains >3 years (indexation gone post-2024, but still better than slab for most). Choose by liquidity need + tax bracket.
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