FD Calculator
An FD Calculator is an online tool that helps you quickly estimate the maturity amount and interest you’ll earn on your fixed deposit. It saves you the hassle of doing manual calculations and helps you plan your investments better. Fixed Deposit (FD) is a popular savings and investment option offered by banks and financial institutions. It lets you deposit a lump sum amount for a fixed period at a predetermined interest rate.
Click "Calculate Tax" to see your tax implications based on your income slab.
Click "Calculate Tax" to see your tax implications based on your income slab.
| Bank | Interest Rate (%) | Maturity Amount (₹) | Interest Earned (₹) | Action |
|---|---|---|---|---|
| SBI | 6.50% Best Rate | ₹1,06,500 | ₹6,500 | |
| HDFC Bank | 6.35% | ₹1,06,350 | ₹6,350 | |
| ICICI Bank | 6.25% | ₹1,06,250 | ₹6,250 | |
| Axis Bank | 6.20% | ₹1,06,200 | ₹6,200 | |
| Kotak Bank | 6.40% | ₹1,06,400 | ₹6,400 | |
| Punjab National Bank | 6.10% | ₹1,06,100 | ₹6,100 | |
| Bank of Baroda | 6.05% | ₹1,06,050 | ₹6,050 | |
| Canara Bank | 6.15% | ₹1,06,150 | ₹6,150 |
Inflation-Adjusted Returns
Calculate how inflation impacts your real returns from fixed deposits.
Your real return after adjusting for inflation is positive, which means your money is growing in real terms.
Loan Against FD Calculator
Calculate the loan amount you can get against your FD and the interest costs.
Maturity Calendar
View your FD maturity date on a calendar and plan your finances accordingly.
Fixed deposit interest is typically calculated using the compound interest formula: A = P(1 + r/n)^(nt), where:
- A is the final amount
- P is the principal amount
- r is the annual interest rate (decimal)
- n is the compounding frequency per year
- t is the time period in years
Most banks in India compound interest quarterly, which means n=4. For a monthly payout FD (non-cumulative), interest is calculated each month but not added to the principal for future interest calculations.
Interest earned on fixed deposits is taxable in India. Key points to remember:
- Banks deduct TDS at 10% if the interest income exceeds ₹40,000 in a financial year (₹50,000 for senior citizens)
- If your total income is below the taxable limit, submit Form 15G/15H to avoid TDS
- Interest is taxed according to your income tax slab rate
- For Tax Saver FDs, while the principal amount qualifies for deduction under Section 80C up to ₹1.5 lakhs, the interest earned is still taxable
FD laddering is a strategy where you divide your corpus into multiple FDs with different maturity periods. Benefits include:
- Better liquidity as FDs mature at different intervals
- Protection against interest rate fluctuations
- Option to reinvest at higher rates when an FD matures in a rising interest rate scenario
- Higher overall returns compared to putting all money in short-term FDs
Example: Instead of investing ₹5 lakhs in one FD, divide it into 5 FDs of ₹1 lakh each with tenures of 1, 2, 3, 4, and 5 years.