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.

Is FD interest taxable?

Yes. FD interest is fully taxable at your income slab rate. Banks deduct TDS at 10% if annual interest exceeds Rs 40,000 (Rs 50,000 for senior citizens). Submit Form 15G/15H if total income is below taxable threshold to avoid TDS.

Senior citizen FD rates — how much higher?

Senior citizens (60+) get 0.25%–0.75% higher rates at most banks. SBI and HDFC offer 0.50%, ICICI 0.50%, Bajaj 0.65%. The calculator's senior-citizen toggle applies the right uplift per bank.

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.

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.

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.

Folio 18 · FD Calculator

FD Calculator

Reviewed by Jay Patel· Last reviewed: 01 Aug 2026

Jay Patel

Co-Founder & Chief Loan Advisor

Calculate your FD maturity amount with interest compounding.

What makes this calculator different

Senior-citizen uplift is auto-applied per bank (SBI/HDFC/ICICI/Bajaj have different bumps); quarterly vs monthly compounding shows the maturity delta in INR; the calculator also surfaces the post-TDS effective yield, which most online FD calculators omit.

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