💰 Fixed Deposit Calculator
Calculate the maturity amount and interest earned on your Fixed Deposit (FD). Supports quarterly, half-yearly, yearly, and monthly compounding as per Indian banks. Plan your investment with accurate returns for SBI, HDFC, ICICI, and other banks.
SBI FD Rate
7.10%
3-year FD
HDFC FD Rate
7.20%
Senior citizens
ICICI FD Rate
7.15%
5-year FD
Senior Citizen
+0.50%
Extra interest
FD Details
Most Indian banks compound interest quarterly
Maturity Amount
₹ 1,45,000
With quarterly compounding
Investment Summary
Interest vs Principal
Top Bank FD Rates (3-5 Years)
| Bank | Regular Rate | Senior Citizen | 1L Maturity (5yr) |
|---|---|---|---|
| SBI | 7.10% | 7.60% | ₹ 1,42,500 |
| HDFC Bank | 7.20% | 7.70% | ₹ 1,43,200 |
| ICICI Bank | 7.15% | 7.65% | ₹ 1,42,800 |
| Axis Bank | 7.25% | 7.75% | ₹ 1,43,600 |
| IDFC First Bank | 7.50% | 8.00% | ₹ 1,45,000 |
*Rates indicative and subject to change. Maturity calculated for ₹1,00,000 with quarterly compounding.
TDS on FD Interest
If your interest income exceeds ₹40,000 (₹50,000 for senior citizens) in a financial year, banks deduct 10% TDS. You can submit Form 15G/15H to avoid TDS if your total income is below taxable limit.
How is FD Interest Calculated?
In India, most banks calculate Fixed Deposit interest using the Quarterly Compounding method. This means the interest earned every 3 months is added to the principal, and subsequent interest is calculated on this increased amount. The formula used is: A = P × (1 + r/n)^(n×t)
FD Formula
- A = Maturity Amount
- P = Principal Amount
- r = Annual Interest Rate (decimal)
- n = Number of times compounded per year
- t = Number of years
Example Calculation
Investment: ₹1,00,000 at 7.5% for 5 years
Quarterly compounding (n=4):
A = 1,00,000 × (1 + 0.075/4)^(4×5)
A = 1,00,000 × (1.01875)^20
A = ₹1,45,000 (approx)
Interest earned: ₹45,000
❓ Frequently Asked Questions
What is quarterly compounding in FD?
Quarterly compounding means interest is calculated and added to your principal every 3 months (4 times a year). This results in higher returns compared to yearly compounding because interest earns interest more frequently.
What is the minimum investment for FD?
Most banks offer FDs starting from ₹1,000 to ₹10,000. Some banks may have higher minimums for special schemes. Senior citizens get additional 0.50% interest on most FD schemes.
What is TDS on FD interest?
Tax Deducted at Source (TDS) is deducted by banks if interest earned exceeds ₹40,000 per year (₹50,000 for senior citizens). Current TDS rate is 10%. You can submit Form 15G/15H to avoid TDS if your total income is below taxable limit.
Can I withdraw FD before maturity?
Yes, you can prematurely withdraw FD, but banks charge a penalty (typically 0.5-1% lower interest rate). Some tax-saving FDs (5-year) have lock-in periods where early withdrawal is not allowed.
Which FD gives highest interest?
Small finance banks like IDFC First, AU Bank, and Yes Bank often offer higher rates (7.5-8.5%). For senior citizens, rates can go up to 8.0-9.0%. Always compare before investing.
⚠️ Disclaimer: This calculator provides estimated returns based on compound interest formula. Actual returns may vary based on bank policies, TDS deductions, and premature withdrawal penalties. Interest rates are subject to change.