📈 FD Calculator
Calculate Fixed Deposit maturity amount and interest earned with compound and simple interest support. Free, instant, no signup.
SBI
@6.50%
HDFC Bank
@7.00%
ICICI Bank
@7.00%
Axis Bank
@6.75%
Custom Rate
@6.80%
Current Bank FD Rates (Approx)
Rates change frequently — verify with your bank before investing
| Bank | 1-2 Years | 3-5 Years | Senior Citizen |
|---|---|---|---|
| State Bank of India (SBI) | 6.50% | 6.80% | 7.30% |
| HDFC Bank | 6.50% | 7.00% | 7.50% |
| ICICI Bank | 6.50% | 7.00% | 7.50% |
| Axis Bank | 6.25% | 6.75% | 7.25% |
About FD Calculator
Calculate your Fixed Deposit maturity amount instantly. This free FD calculator helps you understand how much your investment will grow over time with both compound and simple interest calculations. Supports all compounding frequencies used by Indian banks including monthly, quarterly, half-yearly, and yearly.
Key Features
- Calculate FD maturity with compound interest at any rate
- Savings Goal: Find required investment to reach a target amount
- Compare FD returns across major Indian banks
- Save and manage multiple investment scenarios
- Multiple compounding frequencies: Monthly, Quarterly, Half-Yearly, Yearly
- Quick tenure buttons for common investment periods (1, 2, 3, 5 years)
- Shows maturity amount, interest earned, and effective annual rate
- India-specific with rupee (₹) formatting and senior citizen considerations
- Reference rates for major Indian banks
- Completely free — no signup required
Understanding Fixed Deposits in India
- Compound Interest: Your interest earns interest. A = P(1 + R/N)^(N×T). Most Indian banks use quarterly compounding.
- Simple Interest: Interest calculated only on principal. SI = (P × R × T) / 100. Rarely used for FDs.
- Senior Citizen Premium: Extra 0.25–0.5% for citizens 60+ years old, boosting overall returns
- TDS Deduction: 20% TDS is deducted if annual interest exceeds ₹40,000
- Tenure Options: From 7 days to 10+ years depending on bank. Longer tenures typically offer higher rates.
Frequently Asked Questions
How is FD interest calculated in India?
FD interest is calculated using either simple interest or compound interest. Simple Interest: SI = (Principal × Rate × Time) / 100. Compound Interest: A = P × (1 + R/N)^(N×T) where N is the compounding frequency. Most Indian banks use quarterly compounding.
Which compounding frequency is best for FD?
Quarterly compounding (4 times per year) is most common in Indian banks and generally offers better returns than monthly or annual compounding. More frequent compounding means earning interest on your interest more often, resulting in higher maturity amounts.
Do senior citizens get higher FD rates?
Yes, senior citizens (60+ years) get an additional 0.25–0.5% interest on FDs from most Indian banks. For example, if the regular rate is 6.8%, senior citizens may get 7.3%. This extra rate recognizes senior citizens as priority customers and provides higher retirement income.
Is FD interest taxable in India?
Yes, FD interest is fully taxable as per your income tax slab. Additionally, TDS (Tax Deducted at Source) at 20% is deducted if your annual interest exceeds ₹40,000. You should declare FD interest in your income tax return.
What is the minimum amount for FD in India?
Minimum FD amount in Indian banks ranges from ₹1,000 to ₹25,000 depending on the bank. Some banks offer lower minimums for online FDs. Senior citizens may get slightly different terms. Always verify with your bank for current minimum and maximum FD limits.