FD Calculator
Calculate the maturity amount and total interest earned on a Fixed Deposit. Supports quarterly, monthly, half-yearly, and yearly compounding.
FD Details
FD Result
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Maturity Amount
💡 Formula
FD Compound Interest
- A = P × (1 + r/n)^(n×t), where P = principal, r = annual rate, n = compounding frequency per year, t = time in years.
- Most Indian banks compound quarterly.
📖 How to use
Step by Step
- Enter your deposit amount
- Set the interest rate offered by your bank
- Choose tenure and compounding frequency
- Compare effective annual rate across frequencies
🎯 Tips
Maximize FD Returns
- Senior citizens get 0.25–0.50% extra rate
- Compare rates across banks before investing
- Quarterly compounding yields more than yearly
- Consider tax-saver 5-year FDs for 80C deduction
Frequently Asked Questions
What happens if I break my FD early?▾
Most banks charge a 0.5–1% penalty on the applicable interest rate for premature withdrawal. Some banks like Kotak and IndusInd offer no-penalty FDs at slightly lower rates.
Is FD interest taxable?▾
Yes, FD interest is fully taxable as per your income tax slab. TDS of 10% is deducted if annual interest exceeds ₹40,000 (₹50,000 for senior citizens). Submit Form 15G/H to avoid TDS if your total income is below taxable limit.
What is effective annual rate?▾
Effective annual rate accounts for compounding within the year. A 7% FD with quarterly compounding has an effective rate of ~7.19%. More frequent compounding = higher effective rate.