TDS on FD Interest Calculator
Banks deduct 10% TDS on FD interest exceeding Rs 40,000/year (Rs 50,000 for senior citizens). On a Rs 5 lakh FD at 7% earning Rs 35,000/year: no TDS deducted. On Rs 8 lakh FD at 7% earning Rs 56,000/year: TDS = Rs 5,600 (10% of Rs 56,000). Submit Form 15G/15H if total income is below taxable limit to avoid TDS.
TDS Rate
10%
TDS Amount
₹10,000
Net Payment
₹90,000
Without PAN, TDS is deducted at 20% (Section 206AA). Rates: 194J: 10%, 194I: 10%, 194C: 1-2%, 194A: 10%, 194H: 5%. Salary TDS varies — shown as flat 10% estimate.
Weekly Indian rate update
RBI repo, top FD rates, tax deadlines. Free. No spam.
Calculated with CalcCrack
Common questions about TDS on FD Interest Calculator
How do I avoid TDS on FD interest?
If your total income is below the basic exemption limit (Rs 2.5 lakh new regime / Rs 3 lakh old regime), submit Form 15G (general public) or Form 15H (senior citizens) to your bank at the start of each financial year. This self-declaration prevents the bank from deducting TDS. If you forget to submit and TDS is deducted, you can claim refund in your ITR.
Is TDS deducted on cumulative FD interest too?
Yes. Even for cumulative (non-monthly payout) FDs, TDS is deducted annually on the accrued interest, even though you do not receive the money until maturity. Banks calculate the interest accrued each year and deduct 10% TDS. This is visible in your Form 26AS. Many people are surprised to find TDS deducted on FDs they have not touched.
What if the bank deducted wrong TDS on my FD?
Check Form 26AS or AIS on the Income Tax portal - it shows all TDS deducted against your PAN. If incorrect, contact your bank to rectify before they file quarterly TDS returns (due dates: April-June returns filed by July 31). After that, you need to file an ITR and claim excess TDS as refund.