📋 Submit Form 15G/15H to avoid TDS if your total income is below the taxable limit.
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Principal vs Interest Breakdown
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Same Principal at Different Tenures
⚠️ FD interest is taxable as per your income tax slab. TDS at 10% is deducted by banks when annual interest exceeds ₹40,000 (₹50,000 for senior citizens). Returns shown are indicative. Actual maturity may vary slightly based on bank calculation method.
What's in your ₹99 PDF Report
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FD certificate with full computation breakdown
Tenure comparison: 1, 2, 3 & 5-year projections
TDS impact & Form 15G/15H guidance
Senior citizen rate benefit analysis
5 tips to maximise your FD returns
One-time payment · Instant download · Shareable PDF
About This FD Calculator
This fixed deposit calculator uses the compound interest formula A = P × (1 + r/n)^(n×t), where P is principal, r is annual rate, n is compounding frequency, and t is tenure in years. For senior citizens, 0.5% additional rate is applied. TDS at 10% is triggered when annual interest exceeds ₹40,000 (₹50,000 for senior citizens). The effective annual yield accounts for compounding frequency — quarterly compounding at 7% gives an effective yield of approximately 7.19%. The tenure comparison grid shows how the same principal grows across 1, 2, 3, and 5-year periods at the selected rate.
Frequently Asked Questions
How is FD interest calculated? +
FD uses compound interest: A = P × (1 + r/n)^(n×t). For ₹1L at 7% quarterly for 2 years: A = 1,00,000 × (1+0.07/4)^(4×2) = ₹1,14,948, earning ₹14,948 interest. Quarterly compounding yields more than annual compounding at the same rate.
What is TDS on FD interest? +
Banks deduct TDS at 10% when annual FD interest exceeds ₹40,000 (₹50,000 for senior citizens). Submit Form 15G (under 60) or Form 15H (60+) if income is below taxable limit. TDS can be claimed as credit in ITR. No PAN results in 20% TDS.
Which bank gives the highest FD rate in 2025? +
Small finance banks lead: Unity SFB and Suryoday SFB offer up to 9-9.5% for select tenures. Major banks (HDFC, ICICI, Axis) offer 7-7.5% for regular citizens and 7.5-8% for seniors. Post Office Time Deposit offers 7.5% for 5 years with Sec 80C benefit. Always verify current rates directly with the bank before investing.
Is FD interest taxable? +
Yes, fully taxable as 'Income from Other Sources' at your slab rate. A 30% slab taxpayer pays 30% on FD interest. Only 5-year Tax Saver FD principal qualifies for 80C deduction — the interest is still taxable. There is no exemption on FD interest under either Old or New Tax Regime.