Fixed Deposit Calculator
Calculate your Fixed Deposit returns with accuracy. Plan your investments with different interest payout options and compare FD rates across tenures.
Calculate FD Returns
Enter your FD details to calculate maturity amount and interest earned
FD Summary
Enter your FD details
to see maturity amount
Bank FD Rates Comparison
| Bank | 1 Year | 2 Years | 3 Years | 5 Years |
|---|---|---|---|---|
| SBI | 6.80% | 7.00% | 6.50% | 6.50% |
| HDFC Bank | 7.00% | 7.10% | 7.00% | 7.00% |
| ICICI Bank | 6.90% | 7.10% | 7.00% | 6.90% |
| Axis Bank | 7.10% | 7.25% | 7.10% | 7.10% |
| Small Finance Banks | 8.00-9.50% | 8.25-9.75% | 8.50-9.25% | 8.00-9.00% |
* Rates are indicative and subject to change. Senior citizens get additional 0.25-0.50%
Why Invest in Fixed Deposits?
Capital Safety
Fixed Deposits offer guaranteed returns and capital protection, making them one of the safest investment options.
Fixed Returns
Lock in interest rates for the entire tenure, immune to market fluctuations and economic changes.
Flexible Payouts
Choose monthly, quarterly, or cumulative interest payouts based on your income needs.
Loan Facility
Get up to 90% loan against your FD at nominal interest rates for emergency fund requirements.
Tax Benefits of 5-Year Tax Saver FD
- Deduction under Section 80C up to ₹1.5 lakhs
- Lock-in period of 5 years
- No loan facility available
- Premature withdrawal not allowed
TDS on Fixed Deposits
- TDS deducted at 10% if interest exceeds ₹40,000 (₹50,000 for senior citizens)
- Submit Form 15G/H if total income below taxable limit
- Interest income taxable as 'Income from Other Sources'
- No TDS on FDs with cumulative interest option
Frequently Asked Questions
What is the minimum amount for FD?
Most banks allow Fixed Deposits starting from ₹1,000 to ₹10,000. Some banks may have higher minimum amounts for specific FD schemes. There's usually no upper limit for FD investments.
Can I withdraw FD before maturity?
Yes, but premature withdrawal attracts penalty charges (usually 0.5-1% lower interest rate). Tax-saver FDs have a lock-in period of 5 years and don't allow premature withdrawal.
What is the difference between cumulative and non-cumulative FD?
Cumulative FD pays interest at maturity (compounded), giving higher returns. Non-cumulative FD pays interest periodically (monthly/quarterly) providing regular income.
Are Fixed Deposits safe?
Yes, FDs in scheduled commercial banks are safe as they're insured under DICGC up to ₹5 lakhs per depositor per bank. This includes both principal and interest amount.
How is FD interest calculated?
FD interest is calculated using compound interest formula: A = P(1 + r/n)^(nt). For cumulative FDs, interest is compounded quarterly. For non-cumulative, simple interest is paid periodically.