FD Calculator
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How it is calculated
Maturity = P × (1 + r ÷ 4)^(4 × t), where P is the principal, r is the annual interest rate (as a decimal) and t is the tenure in years, assuming the common quarterly-compounding basis used by most banks. The interest earned is the maturity amount minus the principal. FD interest is taxable as 'income from other sources', and banks deduct TDS above the threshold.
Frequently asked questions
How is FD interest compounded?
Most Indian banks compound FD interest quarterly. The maturity formula is P×(1+r/4)^(4t). A cumulative FD reinvests the interest; a non-cumulative FD pays it out periodically.
Is FD interest taxable?
Yes — FD interest is taxable at your slab rate as 'income from other sources'. Banks deduct TDS once interest in a year crosses the threshold (file Form 121 if your estimated tax for the year is nil — it replaced Forms 15G/15H from 1 April 2026).
Do senior citizens get a higher FD rate?
Yes — most banks offer senior citizens an additional interest rate (often around 0.5% more), and Section 80TTB gives a deduction on interest income up to a limit. Verify current rates with your bank.
Related reading
India Law Simplified is an AI-assisted tool, not a substitute for a licensed CA or advocate. Tax rules and limits change with each Finance Act — verify before relying on any figure.