FD Calculator

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TOOLFD Calculator

FD Details

Deposit AmountRs 5,00,000

Rs 10,000Rs 1,00,00,000

Interest Rate (p.a.)7.0%

3%10%

Years

Months

Compounding Frequency

Senior Citizen (60+) — extra 0.50% rate

Total Deposit

Rs 5,00,000

Interest Earned

Rs 2,07,389

Maturity Value

Rs 7,07,389

Principal (71%) Interest (29%)

TDS Alert: Annual interest of Rs 41,478 exceeds the Rs 40,000 threshold. Estimated TDS (10%): Rs 20,739. Net maturity after TDS: Rs 6,86,650.

Year-wise Breakdown

Year	Opening Balance	Interest	Closing Balance
1	Rs 5,00,000	Rs 35,930	Rs 5,35,930
2	Rs 5,35,930	Rs 38,511	Rs 5,74,441
3	Rs 5,74,441	Rs 41,279	Rs 6,15,720
4	Rs 6,15,720	Rs 44,245	Rs 6,59,965
5	Rs 6,59,965	Rs 47,424	Rs 7,07,389

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TL;DR

Free FD calculator — computes fixed deposit maturity with monthly, quarterly, half-yearly, or annual compounding.
Compare interest payout options instantly; no signup needed.

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About FD Calculator

Fixed Deposits remain the most popular savings instrument in India — capital-safe, predictable, and available at every bank with instant online account opening. But the actual maturity amount depends on compounding frequency (quarterly vs monthly), whether TDS will be deducted, and whether you qualify for the senior citizen rate. This calculator handles all three variables and shows you the net maturity amount after TDS so you can compare FD offers accurately.

How It Works

FD maturity is calculated using the compound interest formula: A = P × (1 + r/n)^(n×t), where P is the principal amount, r is the annual interest rate (as a decimal), n is the compounding frequency per year (4 for quarterly, 12 for monthly), and t is the tenure in years. Most Indian banks compound quarterly, so n = 4 is the default.

Senior citizen rates add the entered premium (typically 0.25-0.50%) to the base rate. TDS at 10% is deducted on the annual interest when it exceeds Rs 40,000 for regular depositors or Rs 50,000 for senior citizens. The calculator deducts TDS from the year's interest, reducing the effective compounding base for the next year.

The result shows gross maturity amount, total TDS deducted across all years, and net maturity amount. It also shows the effective yield after TDS so you can compare this FD against tax-free options like PPF.

Who Is This For

A senior citizen comparing a 3-year FD at a PSU bank versus a private bank, including the senior citizen rate premium and TDS impact on maturity.

A salaried employee in the 30% bracket comparing FD maturity net of TDS versus PPF at 7.1% tax-free to decide where to park Rs 5 lakh.

A retiree with multiple FDs checking whether their total annual FD interest crosses the Rs 50,000 TDS threshold in 2026.

An investor evaluating a 5-year tax-saving FD (Section 80C eligible, 5-year lock-in) as an alternative to ELSS for conservative allocation.

Scope note: Uses user-entered interest rate — bank-specific FD rates change frequently and must be verified at the time of booking. TDS threshold used is Rs 40,000 (Rs 50,000 for senior citizens) per bank per year. If you have FDs at multiple banks, TDS is assessed independently at each bank. Quarterly compounding is the default — verify with your specific bank if they compound monthly or annually.

Disclaimer: This calculator is for informational and educational purposes only and does not constitute financial, tax, or legal advice. Results are estimates based on publicly available tax slabs and formulas. Consult a qualified Chartered Accountant, tax professional, or financial advisor for guidance specific to your situation. Built and maintained by the WOWHOW Team with 14+ years of software development experience.

How to Use

Enter your fixed deposit amount

Set the interest rate (or use default bank rate)

Choose tenure in years and months

Select compounding frequency and senior citizen status

Frequently Asked Questions

FD interest uses compound interest: A = P(1 + r/n)^(nt). Most Indian banks compound quarterly.

Banks deduct TDS at 10% on FD interest exceeding Rs 40,000/year (Rs 50,000 for senior citizens).

Yes, most Indian banks offer 0.25% to 0.50% higher interest rates for senior citizens (age 60+).

Yes. If your total annual income is below the basic exemption limit, you can submit Form 15G (for individuals below 60) or Form 15H (for senior citizens) to your bank at the start of the financial year. The bank will not deduct TDS if valid forms are submitted. The form must be submitted fresh at the beginning of each financial year.

An FD involves a single lump sum deposit for a fixed period. An RD involves regular monthly deposits of a fixed amount for a chosen tenure. FD interest is generally higher than RD for the same amount and period because in an FD the full principal earns interest from day one, while RD instalments start accruing interest only from their respective deposit dates.

FD returns are guaranteed and predictable. Debt mutual funds carry credit risk and interest rate risk but offer potential for higher post-tax returns due to indexation benefits (for gains held over 3 years before April 2023 — this benefit has since been removed). Post-April 2023, debt fund gains are taxed at slab rate regardless of holding period, making long-term FDs at 7-8% competitive for investors in the 20-30% bracket.