FD Calculator — Fixed Deposit Calculator
Calculate the maturity amount and interest earned on your Fixed Deposit. Compare FD returns across different tenures and interest rates.
By SwiftCalcTools Editorial Team · Formula verified
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How to Use FD Calculator
- 1Enter the required values in the input fields above.
- 2Click the Calculate button or results update instantly as you type.
- 3View your results in the output panel below the inputs.
- 4Adjust any values to recalculate instantly.
Frequently Asked Questions
A Fixed Deposit (FD) is a savings instrument where you deposit a lump sum with a bank for a fixed period at a predetermined interest rate. The bank pays you interest (compounded quarterly in most Indian banks) and returns your principal + interest at maturity.
Small finance banks (like AU, Suryoday, ESAF) typically offer 8-9% for seniors. Among large banks, private banks (HDFC, ICICI, Axis) offer 7-7.5%. PSU banks (SBI, Bank of Baroda) typically offer 6.5-7%. Always verify current rates on the bank's website before investing.
Yes. FD interest is added to your taxable income and taxed at your slab rate. Banks deduct TDS at 10% if interest exceeds ₹40,000/year (₹50,000 for senior citizens). If your income is below the taxable limit, submit Form 15G/15H to avoid TDS.
Cumulative FD: Interest is compounded and paid at maturity — better for wealth growth. Non-cumulative FD: Interest is paid monthly/quarterly — better for regular income. The maturity amount of a cumulative FD is higher due to compounding.
Yes, premature withdrawal is usually allowed with a penalty (typically 0.5-1% lower rate). Some banks have a lock-in period (usually 7 days). Tax-saving FDs (5-year) cannot be broken prematurely.
A 5-year tax-saving FD under Section 80C allows deduction up to ₹1.5 lakh per year. However, it has a mandatory 5-year lock-in, and the interest earned is still taxable. It is suitable for people who have exhausted other 80C options.