Fixed Deposit Calculator
fixed deposit calculator. Get instant, accurate results. Enter values for instant results with step-by-step formulas.
Reviewed for accuracy by Sahil, Senior Finance & Tax Editor
Fixed Deposit Calculator
Calculator
Adjust values & calculateEnter your values below. Every result is computed in your browser — no data is sent to any server.
Formula: A = P(1 + r/n)^(nt)
Worked example — ₹1,41,478 (₹41,478 interest)
Formula
A = P(1 + r/n)^(nt)
Compound interest formula where P = principal, r = annual rate, n = compounding frequency per year, t = time in years. Most Indian banks use quarterly compounding for FDs.
Worked Examples
Example 1: ₹1L for 5 years at 7%
Problem:₹1,00,000 at 7% quarterly compounding for 5 years
Solution:A = 1,00,000 x (1 + 0.07/4)^(4x5) = ₹1,41,478
Result:₹1,41,478 (₹41,478 interest)
Frequently Asked Questions
How is TDS deducted on fixed deposit interest?
Banks deduct TDS at 10% if your total FD interest across all branches exceeds 40,000 per year (50,000 for senior citizens). If your total income is below the basic exemption limit, submit Form 15G (or Form 15H for seniors) at the start of the financial year to avoid TDS.
Do senior citizens get higher FD interest rates?
Yes, most Indian banks offer an additional 0.25% to 0.75% interest rate for senior citizens (age 60+) on fixed deposits. Some banks offer even higher premiums for super senior citizens (age 80+). This makes FDs a popular choice for retirement income.
What is a tax-saving fixed deposit?
A 5-year tax-saving FD qualifies for deduction under Section 80C up to 1.5 lakh per year. However, the interest earned is fully taxable. These FDs have a mandatory 5-year lock-in with no premature withdrawal allowed, unlike regular FDs.
What is the penalty for breaking an FD before maturity?
Premature withdrawal of a fixed deposit typically incurs a penalty of 0.5% to 1% reduction from the applicable interest rate for the completed tenure. Some banks waive the penalty for FDs under a certain amount. Tax-saving FDs cannot be broken prematurely.
Can NRIs invest in fixed deposits in India?
Yes, NRIs can invest in NRE (Non-Resident External) and NRO (Non-Resident Ordinary) fixed deposits. NRE FD interest is fully tax-free in India and repatriable. NRO FD interest is taxable in India with TDS at 30% plus applicable surcharge and cess.
Reviewed for accuracy by Sahil, Senior Finance & Tax Editor · Editorial policy
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