The Calculator Hubs

What is an FD Calculator?

A Fixed Deposit (FD) Calculator helps you estimate the maturity amount and interest earned on your bank fixed deposit. It accounts for compounding frequency to give you accurate projections of your guaranteed returns.

How is FD Interest Calculated?

FD interest is calculated using compound interest formula: A = P × (1 + r/n)^(n×t), where P = Principal, r = Annual interest rate, n = Compounding frequency per year, and t = Tenure in years. Most Indian banks compound quarterly.

Types of Fixed Deposits in India

• Regular FD: Standard deposit with flexible tenure from 7 days to 10 years.
• Tax-Saving FD: 5-year lock-in with ₹1.5 lakh deduction under Section 80C.
• Senior Citizen FD: Offers 0.25%–0.50% higher interest rates for ages 60+.
• Cumulative vs Non-Cumulative: Interest paid at maturity vs. monthly/quarterly payouts.

Tax on FD Interest

Interest earned on FDs is fully taxable. TDS at 10% is deducted if annual interest exceeds ₹40,000 (₹50,000 for senior citizens). You can submit Form 15G/15H if your total income is below the taxable limit to avoid TDS.