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FD Calculator

Calculate Fixed Deposit maturity amount with quarterly compounding (Indian bank standard)

📝FD Details

₹

Typical: 6.5-7.5% (regular) • 7-8% (senior citizen)

Indian banks use Quarterly compounding

📊FD Returns

Principal Amount ₹1,00,000
Interest Earned ₹41,478
Effective Rate (CAGR) 7.19%
Tenure 5 years
Maturity Amount
₹1,41,478
Interest is taxable as per your income slab

🏦Indian Bank FD Rates (April 2026)

Approximate rates for 1-year FDs. Senior citizens get +0.50% extra. Always check the latest rates with the bank.

Bank1 Year3 Years5 YearsSenior
SBI6.80%6.75%6.50%+0.50%
HDFC Bank6.60%7.00%7.00%+0.50%
ICICI Bank6.70%7.00%7.00%+0.50%
Axis Bank6.70%7.10%7.00%+0.50%
Kotak Mahindra7.00%7.00%6.20%+0.50%
Post Office TD6.90%7.10%7.50%Same

Frequently Asked Questions

What is the formula for FD calculation? +
FD Maturity = P × (1 + r/n)^(n×t), where P = Principal, r = Annual interest rate (decimal), n = Compounding frequency per year (4 for quarterly, 12 for monthly), t = Time in years.
Is FD interest taxable? +
Yes. FD interest is fully taxable as per your income tax slab. Banks deduct 10% TDS if interest exceeds ₹40,000/year (₹50,000 for senior citizens). You can submit Form 15G/15H to avoid TDS if eligible. Tax-saving FDs (5-year lock-in) qualify for Section 80C deduction up to ₹1.5 lakh.
Quarterly vs Monthly compounding - which is better? +
Monthly compounding gives slightly higher returns. For ₹1 lakh at 7% for 5 years: Quarterly = ₹1,41,478 | Monthly = ₹1,41,762. Difference is small but monthly is marginally better. Most Indian banks use Quarterly compounding by default.
Can I break FD before maturity? +
Yes, you can break your FD anytime, but you'll get 0.5-1% LESS interest as penalty. Some banks offer "no-penalty" FDs but at slightly lower rates. Senior citizens often get penalty waivers in select banks.
FD vs Mutual Funds vs PPF? +
FD: 6-7.5% returns (taxable) - SAFE. Mutual Funds: 12-15% returns - HIGH RISK. PPF: 7.1% returns (tax-free) - SAFE but 15-yr lock. For emergency funds and short-term goals (1-3 years), FD is best. For long-term wealth, combine PPF + Mutual Funds.
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Important Financial Disclaimer

This calculator is for informational and educational purposes only. The results are estimates based on the inputs provided and should NOT be considered as financial, investment, tax, or legal advice.

  • 💼 Consult a qualified financial advisor, Chartered Accountant, or tax consultant before making any investment, tax, or financial decision based on these calculations.
  • 📊 Interest rates and tax rules change frequently — always verify current rates from official sources (RBI, EPFO, Income Tax Department, SEBI, banks) before investing.
  • 📈 Past performance does not guarantee future returns. Mutual funds, equity, and market-linked investments are subject to market risks.
  • 🏦 Bank/Government rates shown are indicative and may differ from your actual quoted rate. Confirm with your bank or financial institution before transaction.
  • 📋 Calculations may not include all charges like processing fees, GST, TDS, prepayment charges, late payment penalties, or other applicable costs.
  • ⚖️ Tax calculations are simplified estimates. Actual tax liability depends on your complete income profile, deductions, exemptions, and current laws.

By using this calculator, you acknowledge and agree that KaamKaTool.in, its owners, and developers are not liable for any financial loss, damage, or adverse outcomes resulting from decisions based on this information. Use at your own risk and discretion.