How this calculation works
This calculator uses: A = P × (1 + r/n)^(n×t). Enter your values above to get an immediate result. Results are rounded for readability.
Using the fd calculator
Start by entering values in the units shown. The result updates immediately, and the shareable link preserves your inputs without creating a separate indexable page. Use this as a clear estimate and check important assumptions before relying on it.
Common questions
Is FD interest taxable in India?
Yes. FD interest is fully taxable as 'Income from Other Sources' at your applicable slab rate. If interest earned across all FDs exceeds ₹40,000 per year (₹50,000 for senior citizens), the bank deducts TDS at 10%.
Which bank gives the highest FD rate in India?
Small Finance Banks like Unity SFB, Suryoday SFB typically offer rates of 8-9%. Among large banks, HDFC, ICICI, and SBI offer 6.5-7.5%. Senior citizens usually get an additional 0.25-0.5% premium.
Can I break my FD before maturity?
Yes, most FDs can be closed prematurely. However, the bank applies a penalty of 0.5-1% lower than the contracted rate. Tax-saving 5-year FDs have a mandatory lock-in and cannot be broken prematurely.
What is the difference between simple and compound interest FD?
Most bank FDs use compound interest. Simple interest FDs (rare) pay interest only on the principal. Compound interest grows faster because interest earned is reinvested. The calculator above shows compound interest as per Indian banking standards.