FD Calculator — Fixed Deposit Return Calculator

A Fixed Deposit (FD) is a financial instrument provided by banks and NBFCs that provides investors a higher rate of interest than a regular savings account until the given maturity date.

Most commercial banks in India compound interest on Fixed Deposits quarterly using the formula: A = P × (1 + r/n)^(n×t), where A is maturity amount, P is principal, r is annual interest rate, n is compounding frequency per year (n=4 for quarterly), and t is time in years.

Yes, most Indian banks offer an additional interest rate of 0.50% to 0.75% per annum to senior citizens (aged 60 years and above) across major deposit tenures.

Yes, interest earned on Fixed Deposits is fully taxable according to your applicable income tax slab rate. Additionally, banks deduct Tax Deducted at Source (TDS) at 10% if FD interest income exceeds ₹40,000 in a financial year (₹50,000 for senior citizens).

Tax-Saving FDs carry a mandatory 5-year lock-in period and qualify for tax deductions up to ₹1.5 Lakh per financial year under Section 80C of the Income Tax Act.