ganak.appFD Calculator
Calculate FD maturity amount and interest for Indian banks. Compare rates across banks. Supports quarterly, monthly, and cumulative payout with TDS calculation.
Yearly FD Growth
See how your FD grows year by year
| Year | Opening Balance | Interest Earned | Closing Balance |
|---|---|---|---|
| 1 | ₹5,00,000 | ₹35,930 | ₹5,35,930 |
| 2 | ₹5,35,930 | ₹38,511 | ₹5,74,441 |
| 3 | ₹5,74,441 | ₹41,279 | ₹6,15,720 |
| 4 | ₹6,15,720 | ₹44,245 | ₹6,59,965 |
| 5 | ₹6,59,965 | ₹47,424 | ₹7,07,389 |
What is a Fixed Deposit (FD)?
A safe, guaranteed-return savings instrument from banks
A Fixed Deposit (FD) is a popular savings and investment option offered by banks and NBFCs in India. You deposit a lump sum amount for a fixed tenure at a predetermined interest rate. In return, the bank guarantees a fixed return, regardless of market fluctuations.
FDs are considered low-risk because the principal and interest are assured, making them a preferred choice for conservative investors, retirees, and anyone who wants predictable, stable growth on their money.
Lump Sum Investment
Deposit a fixed amount at the beginning
Fixed Tenure
Can range from a few days to several years (e.g., 7 days to 10 years)
Guaranteed Returns
Interest rate is fixed and known upfront
Taxable
Interest earned is fully taxable as per your income tax slab
FD Interest Calculation
Cumulative vs non-cumulative FD types explained
Two Types of Fixed Deposits:
Cumulative FD
Interest is added back to the principal at each compounding interval (monthly, quarterly, half-yearly, or yearly). This leads to compounding — you earn interest on interest. The entire maturity amount (principal + interest) is paid at the end. Ideal for long-term wealth accumulation.
Non-cumulative FD
Interest is not re-invested. Instead, it is paid out periodically (monthly, quarterly, half-yearly, or annually). The principal remains constant throughout the tenure. Ideal for regular income needs like retirement or monthly expenses.
The FD calculator lets you choose FD type and frequency and instantly see the maturity value or periodic payout.
FD Compound Interest Formula
Maturity formulas for both cumulative and simple interest FDs
Cumulative FD (Compound Interest)
A = P × (1 + r/n)^(n × t)P
Principal
r
Rate (decimal)
n
Periods/year
t
Tenure (years)
A
Maturity amt
Total interest earned = A - P
Non-cumulative FD (Simple Interest)
Interest = P × r × tThe total interest is then divided across the payout periods (monthly, quarterly, etc.) to arrive at the periodic interest you receive.
FD Example
A 5-year quarterly-compounded FD worked calculation
Cumulative FD Example
Suppose you invest ₹5,00,000 in a cumulative FD at 7% p.a. for 5 years, compounded quarterly:
Principal
₹5,00,000
Interest Rate
7% p.a.
Tenure
5 years
Compounding
Quarterly
Maturity Amount
₹7,07,389
Interest Earned
₹2,07,389
Compounding over multiple years significantly increases your final amount compared to simple interest.
How to Maximise Your FD Returns
Tenure, rate comparison, laddering, and tax strategies
1. Choose the Right Tenure
Short tenures give flexibility but lower returns. Longer tenures usually offer higher rates, but your money stays locked in. Use the FD calculator to test different tenures and find the sweet spot for your needs.
2. Compare Rates Across Banks
Even a 0.25% difference in interest rate can make a noticeable difference in maturity amount over several years. Shop around and compare rates from different banks and NBFCs.
3. Cumulative for Growth, Non-cumulative for Income
If you don’t need regular income, cumulative FDs usually result in higher final values because of compounding. If you need cash flow, non-cumulative FDs provide predictable periodic payouts.
4. Stagger FDs (Laddering)
Instead of one big FD, create multiple FDs with different maturities so some portion matures every year, giving you liquidity and the ability to reinvest at better rates.
5. Consider Tax Impact
FD interest is taxable as per your income slab. Use the calculator’s Tax toggle in Advanced Options to estimate post-tax returns directly. Senior citizens often get higher rates and better tax benefits.
FD vs PPF vs RD
Risk, returns, lock-in, and liquidity compared
Fixed Deposit
PPF
RD
FDs are ideal if you want fixed, predictable returns over a specific period.
PPF is better for long-term, tax-free retirement-oriented savings.
RD is useful when you want to invest smaller amounts every month instead of a lump sum.
FD Withdrawal & Premature Closure
Penalties, reduced rates, and what to check before breaking an FD
Most fixed deposits allow premature withdrawal before the original maturity date, but usually with a penalty. The bank may reduce the interest rate applicable to your FD if you break it early. Some special FDs may not allow premature withdrawal at all.
Always Check Before Breaking an FD
Use the FD calculator to plan your tenure properly so you minimize the need for premature withdrawal. Consider keeping an emergency fund separate from your FD investments.
Bank-wise FD Interest Rates in India
Compare FD rates across SBI, HDFC, ICICI, Axis, PNB, Kotak, and other major banks (as of March 2026)
FD interest rates vary across banks and depend on tenure, deposit amount, and whether you are a senior citizen. Below is a comparison of FD rates offered by major Indian banks for general citizens. Senior citizens typically get an additional 0.25% to 0.50% on top of regular rates.
| Bank | 1 Year | 2 Years | 3 Years | 5 Years |
|---|---|---|---|---|
SBI | 6.80% | 7.00% | 6.75% | 6.50% |
HDFC Bank | 6.60% | 7.00% | 7.00% | 7.00% |
ICICI Bank | 6.70% | 7.00% | 7.00% | 7.00% |
Axis Bank | 6.70% | 7.00% | 7.10% | 7.00% |
PNB | 6.80% | 7.00% | 6.50% | 6.50% |
Kotak Mahindra | 7.10% | 7.15% | 7.10% | 6.20% |
Bank of Baroda | 6.85% | 7.05% | 7.00% | 6.50% |
Canara Bank | 6.85% | 7.00% | 6.70% | 6.70% |
Indian Bank | 6.75% | 7.05% | 6.75% | 6.50% |
Union Bank | 6.70% | 7.00% | 6.70% | 6.50% |
Post Office TD | 6.90% | 7.00% | 7.10% | 7.50% |
Disclaimer: Rates shown are indicative for general citizens and sourced from publicly available bank websites as of March 2026. Actual rates may vary based on deposit amount, tenure slab, and bank-specific terms. Senior citizens typically receive an additional 0.25%–0.50%. Always verify the latest rates directly with your bank before investing.
Enter the rate offered by your chosen bank in the FD calculator above to see your exact maturity amount and interest earned. Even a small difference in rate (e.g., 6.80% vs 7.10%) can result in significantly different returns over longer tenures.
TDS on Fixed Deposit Interest
How TDS is deducted on FD interest, thresholds, and how to avoid it
Banks deduct Tax Deducted at Source (TDS) on FD interest under Section 194A of the Income Tax Act. TDS is deducted when the interest earned across all your FDs in a bank exceeds the threshold in a financial year.
General Citizens
(with PAN)
Threshold
₹50,000
TDS Rate
10%
Senior Citizens
(with PAN)
Threshold
₹1,00,000
TDS Rate
10%
Without PAN
(any category)
Threshold
Same as above
TDS Rate
20%
How to Avoid or Reduce TDS
Form 15G/15H: If your total income is below the taxable limit, submit Form 15G (below 60 years) or Form 15H (senior citizens) to avoid TDS deduction
Split across banks: Spread FDs across multiple banks so interest per bank stays under the TDS threshold
Always link PAN: Without PAN, TDS is deducted at 20% instead of 10%
TDS vs Actual Tax
TDS is not the final tax — it is an advance payment. Your actual tax liability depends on your income tax slab. If TDS is deducted at 10% but your slab is 30%, you must pay the difference when filing ITR. If your slab is lower than 10%, you can claim a refund.
Use the Tax toggle in Advanced Options above to estimate your post-tax FD returns at your specific tax rate.
How to Calculate FD Interest in Excel
Excel formulas for cumulative and non-cumulative FD calculations
You can also calculate FD maturity and interest in Microsoft Excel or Google Sheets using built-in functions:
Cumulative FD (FV function)
=FV(rate/n, n*t, 0, -P)rate
Annual rate (e.g. 0.07)
n
Periods/year (4 = quarterly)
t
Tenure in years
P
Principal amount
Example: ₹5,00,000 at 7% for 5 years (quarterly)
=FV(0.07/4, 4*5, 0, -500000)Result: ₹7,07,389 (maturity amount)
Non-cumulative FD (Simple Interest)
=P * rate * tFor monthly payout: =P * rate / 12
FD Interest After Tax
=FV(rate/n, n*t, 0, -P) - P - ((FV(rate/n, n*t, 0, -P) - P) * tax_rate)Or simply multiply interest by (1 - tax_rate) where tax_rate is your slab (e.g., 0.30 for 30%).
While Excel works for one-off calculations, this FD calculator gives you instant results with charts, year-by-year breakdowns, and tax estimates — without any formula setup.
Frequently Asked Questions
Common questions about fixed deposits, interest rates, and maturity
Embed FD Calculator
Add this calculator to your website or blog for free.
You Might Also Like
Related calculators from other categories
Last updated Feb 19, 2026