FD Calculator
Calculate the maturity amount and interest earned on a fixed deposit for any compounding frequency.
What is an FD Calculator?
A fixed deposit (FD) calculator helps you find the maturity amount of a bank FD at the end of your chosen tenure. It applies the compound interest formula based on your deposit amount, interest rate, and compounding frequency.
FD Compound Interest Formula
Where: P = principal, r = annual rate (decimal), n = compounding frequency per year, t = years
FD interest rates in India (2026)
As of 2026, major Indian banks offer FD interest rates between 6.5% and 7.75% for regular citizens, with senior citizens typically getting 0.25% to 0.5% higher rates. Small finance banks and NBFCs may offer rates up to 8.5–9%. Always check the current rates on the bank's official website before investing.
Quarterly vs Monthly compounding
Most Indian banks compound FD interest quarterly. Monthly compounding gives slightly higher returns for the same nominal rate. The effective annual yield (EAR) will be higher than the stated nominal rate due to the compounding effect — this calculator shows your final maturity amount regardless of compounding choice.
Tax on FD interest
FD interest income is fully taxable in India as per your income tax slab. Banks deduct TDS (Tax Deducted at Source) at 10% if your annual FD interest income exceeds ₹40,000 (₹50,000 for senior citizens). Submit Form 15G (or 15H for senior citizens) if your total income is below the taxable limit.