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FD Calculator
Maturity value and interest on a fixed deposit at any compounding frequency.
Banks in India normally compound fixed deposit interest quarterly. This calculator shows the maturity value, the interest component and the effective annual yield for the frequency you choose.
It also flags the TDS position: banks deduct tax at source on interest once it crosses the section 194A threshold for the year.
How it is calculated
Compound interest
- A = P × (1 + r ÷ n)^(n × t)
- P = principal, r = annual rate as a decimal, n = compounding periods a year, t = tenure in years
Simple interest
- A = P × (1 + r × t)
Things to keep in mind
- Interest on a fixed deposit is fully taxable as income from other sources at your slab rate, in the year it accrues.
- TDS deducted by the bank is only an advance — it is credited against your final liability when you file your return.
Frequently asked questions
Under section 194A a bank, co-operative society or post office deducts TDS at 10% once your interest for the financial year from that payer exceeds ₹50,000 (₹1,00,000 if you are a senior citizen). Without a valid PAN the rate is 20%.
Yes — submit Form 15G (or 15H if you are 60 or above) to the bank at the start of the year, provided your estimated total income is below the taxable limit.
A 5-year tax-saving fixed deposit qualifies for deduction under section 80C (up to ₹1,50,000) but only under the old regime, and it cannot be withdrawn before maturity.
Sources & official references
- Income Tax Department — TDS rates and section 194A
- Reserve Bank of India — deposit interest rate directions
Rates, thresholds and limits used by this calculator were verified on 7 September 2026 and may change with a Finance Act, GST Council decision or other official notification. This page is general information, not tax or investment advice — please confirm your specific position with us before acting.