Maturity Amount
₹70,73,891
Interest Earned
₹20,73,891
Principal
₹50,00,000
FD Calculator for ₹50 Lakh
A ₹50 lakh FD at 7% for 5 years with quarterly compounding matures at ₹70.74 lakh — ₹20.74 lakh in interest.
Principal
₹1,00,000
Interest Earned
₹23,144
Maturity Amount
₹1,23,144
Calculated with quarterly compounding (standard for most Indian banks). Actual maturity may vary by bank.
Bajaj Finserv
SponsoredFD rates up to 8.85% — higher than most banks
- ICRA AAA / CRISIL FAAA rated
- Cumulative + non-cumulative options
- Seniors get additional 0.40%
CalcHub earns a commission when you apply through this link — at no extra cost to you.
What is the FD Calculator?
A Fixed Deposit (FD) is one of the safest investment options in India — you lock in a fixed interest rate for a chosen tenure (7 days to 10 years). Bank FDs are insured up to ₹5 lakh per depositor per bank under DICGC. Most Indian banks compound FD interest quarterly.
Formula
A = P × (1 + r/4)^(4t) [quarterly compounding]- P
- = FD principal (₹)
- r
- = Annual interest rate (decimal)
- t
- = Tenure in years
How to use the FD Calculator
- 1
Enter the deposit amount
Minimum ₹1,000 for most banks, no practical upper limit.
- 2
Enter the interest rate
Use the current published rate from your chosen bank. Senior citizens should use their higher rate.
- 3
Enter the tenure
Choose from 7 days to 10 years. Longer tenures generally offer better rates.
- 4
Choose compounding frequency
Most Indian bank FDs compound quarterly by default.
- 5
Review maturity amount
The calculator shows principal, interest earned, maturity amount, and estimated TDS (if applicable).
Reviewed by
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Frequently asked questions
What is the best FD rate in India right now?
As of 2026-04-01, the highest FD rates among major banks range from 6.8% to 8.25% for 1-3 year tenures. Small finance banks like AU, Equitas, and Jana often offer 7.5-8% for senior citizens. Source: Bank published FD rates, 1-year tenure, general public.
Is FD interest taxable in India?
Yes, FD interest is fully taxable at your income tax slab rate as "Income from Other Sources". Banks deduct TDS at 10% if interest exceeds ₹40,000/year (₹50,000 for senior citizens). If your total income is below the taxable limit, submit Form 15G (15H for seniors) to avoid TDS. You still need to declare the interest in your ITR.
Should I break my FD early?
Most banks charge a penalty of 0.5-1% for premature withdrawal — you also get the interest rate applicable to the actual tenure completed, not the originally contracted rate. Breaking a 5-year FD after 1 year typically gives you the 1-year rate minus a penalty, which can cut your effective return by 2-3 percentage points. Only break an FD if absolutely necessary.
Do senior citizens get higher FD rates?
Yes. All major Indian banks offer an additional 0.25-0.75% above the standard FD rate for senior citizens (60+). For "super senior citizens" (80+), some banks offer an additional 0.1%. The senior-citizen rate applies only to FDs in the senior citizen's own name.
Is FD safe in Indian banks?
FDs in scheduled commercial banks are among the safest investments available. DICGC (Deposit Insurance and Credit Guarantee Corporation) insures up to ₹5 lakh per depositor per bank including both principal and interest. If you have more than ₹5 lakh, split across multiple banks for full coverage. Cooperative banks carry higher risk.
Sources
Weekly Indian rate update
RBI repo, top FD rates, tax deadlines. Free. No spam.
Calculated with CalcHub