FD Interest Calculator — Fixed Deposit Returns with TDS Impact
Calculate your fixed deposit maturity value, total interest earned, and TDS impact instantly. Enter deposit amount, interest rate, tenure, and compounding frequency. Choose between simple and compound interest. The calculator shows maturity value, gross interest, TDS deduction (10% above ₹40K/₹50K for seniors), net interest after TDS, effective yield, and a year-wise interest breakup.
Calculate FD Maturity & Interest
How to Use the FD Calculator
This calculator computes fixed deposit maturity value using the standard formulas used by banks regulated by the Reserve Bank of India.
Step 1 — Enter Deposit Details
Set deposit amount (up to ₹5 crore), interest rate, and tenure using sliders or input fields.
Step 2 — Choose Compounding and Category
Select compounding frequency: Monthly, Quarterly (most common for banks), Yearly, or Simple interest. Choose General or Senior Citizen for correct TDS threshold.
Step 3 — View Results
Get maturity value, gross interest, TDS impact, net interest, effective yield, and year-wise breakup.
CA Tip: FD interest is taxable as “Income from Other Sources” at your slab rate. If total FD interest across all branches of a bank exceeds ₹40K (₹50K for seniors), TDS is deducted at 10%. Submit Form 15G/15H if income is below taxable limit. ICAI recommends tax-saving FDs only if you exhaust other 80C options first.
FD Interest Calculation Formulas
A = P × (1 + r/n)n×t
Interest = A − P
Simple Interest:
Interest = P × r × t
A = P + Interest
Where: P = Principal, r = Annual rate, n = Compounding per year, t = Years
Example (₹5L, 7%, 5 yrs, quarterly):
A = 5,00,000 × (1 + 0.07/4)4×5 = 5,00,000 × 1.4148
A = ₹7,07,393 | Interest = ₹2,07,393
FD Interest Rates in India — 2026
| Bank | 1 Year | 3 Years | 5 Years | Senior Citizen Extra |
|---|---|---|---|---|
| SBI | 6.80% | 7.00% | 6.50% | +0.50% |
| HDFC Bank | 6.60% | 7.10% | 7.00% | +0.50% |
| ICICI Bank | 6.70% | 7.10% | 7.00% | +0.50% |
| Post Office | 6.90% | 7.10% | 7.50% | N/A |
| Small Finance Banks | 7.50% | 8.00% | 8.25% | +0.50–0.75% |
Rates are indicative as of March 2026. Check RBI and bank websites for latest rates. Post Office FDs are backed by Government of India.
Tax and TDS on Fixed Deposit Interest
| Parameter | General Citizen | Senior Citizen (60+) |
|---|---|---|
| TDS Threshold (per bank/year) | ₹40,000 | ₹50,000 |
| TDS Rate (with PAN) | 10% | 10% |
| TDS Rate (without PAN) | 20% | 20% |
| Sec 80TTB Deduction | N/A | Up to ₹50,000 |
| Tax-Saving FD (80C) | ₹1.5L, 5-year lock-in | ₹1.5L, 5-year lock-in |
| TDS Avoidance | Form 15G | Form 15H |
Important: TDS is just advance tax — not final tax. Actual tax on FD interest depends on your income tax slab. If you are in the 30% bracket, you owe 20% more beyond the 10% TDS. Include FD interest in your ITR under Income from Other Sources.
Expert Tip: Spread FDs across multiple banks keeping interest below ₹40K per bank to legally minimise TDS. Or submit Form 15G/15H if total income is below taxable limit. Talk to our CA team →
Need tax planning help? Our CAs handle FD tax optimization, TDS compliance, ITR filing, and investment planning. Talk to a CA today →
