FD Calculator
Calculate the maturity value of a bank fixed deposit with any tenure, interest rate and compounding frequency — including post-tax returns for the realistic picture.
FD inputs
What is a Fixed Deposit?
A Fixed Deposit (FD) is a bank or NBFC product where you park a lumpsum for a fixed tenure (7 days to 10 years) at a pre-agreed interest rate. The rate is locked the day you book — even if the RBI cuts rates next month, you keep your higher rate. FDs are the cornerstone of Indian household savings: simple, safe, predictable.
The compound-interest formula
A = P × (1 + r/n)n × t- P = principal
- r = annual rate (decimal)
- n = compounding periods per year (most banks use 4 — quarterly)
- t = tenure in years
Typical FD rates in India (2025)
- Public-sector banks (SBI, PNB, Union): 6.5%–7.25% for general; +0.50% for seniors.
- Private banks (HDFC, ICICI, Axis): 6.6%–7.50%.
- Small finance banks (Equitas, AU, Ujjivan): 7.5%–8.5% — DICGC-insured up to ₹5L.
- Corporate FDs (Bajaj, Mahindra Finance, Shriram): 7.5%–9% — read the credit rating.
Tax on FD interest
FD interest is taxed at your income-tax slab rate. Banks deduct TDS at 10% if annual interest crosses ₹40,000 (₹50,000 for seniors). Submit Form 15G/15H to avoid TDS if your total income is below the taxable limit. Tax-saving FDs (5-year lock-in) qualify for Section 80C — but their interest is still fully taxable on maturity.
FD vs debt mutual fund — which is better?
- Safety: Both safe. FDs are DICGC-insured up to ₹5L per bank; debt MFs hold credit-rated bonds.
- Returns: Debt MFs historically deliver 0.5–1% more than equivalent-duration FDs.
- Tax: From FY 2023-24, debt MFs are also taxed at slab. FDs and debt MFs are now tax-neutral.
- Liquidity: Debt MFs settle T+1; FDs incur 1% premature-withdrawal penalty.
- Best of both: Senior citizens with low slabs lean FDs (insurance + simplicity); high-bracket investors prefer debt MFs for liquidity.