FD Calculator

FD interest is calculated using compound interest: A = P × (1 + r/n)^(n×t), where P is principal, r is annual rate, n is compounding frequency per year, and t is tenure in years.

Banks deduct TDS (Tax Deducted at Source) at 10% if FD interest exceeds ₹40,000 per year (₹50,000 for senior citizens). If you don't submit PAN, TDS is 20%. Submit Form 15G/15H if you have no taxable income.

More frequent compounding yields slightly higher returns. Monthly compounding gives the best returns, followed by quarterly, half-yearly, and yearly. The difference is small for short tenures but meaningful for longer ones.

Yes. FD interest is fully taxable as "Income from Other Sources" as per your income tax slab — not at a flat rate. TDS is only a deduction, not the final tax. You may need to pay additional tax if you're in a higher slab.

As of 2026, small finance banks like Unity SFB and Suryoday SFB offer 8–9% p.a. for select tenures. Major banks like SBI and HDFC offer 6.5–7.25%. Senior citizens typically get 0.25–0.5% extra.

Bank FDs are insured up to ₹5 lakh per depositor per bank under DICGC (Deposit Insurance and Credit Guarantee Corporation). This covers all accounts including savings, FD, and RD in the same bank.