FD Calculator

The calculator assumes a cumulative FD: interest is added to the deposit at each compounding interval and earns interest itself until maturity. With the default inputs (₹1,00,000 at 7% for 5 years, compounded quarterly) the maturity amount is about ₹1,41,478, so you earn about ₹41,478.

Set the compounding option to whatever your bank's deposit terms say. Here is what each choice does to the same deposit:

The gap between yearly and monthly compounding is about ₹1,508 over five years. A small difference in the rate itself matters more: 7.25% compounded quarterly gives about ₹1,43,226, nearly ₹1,750 more than 7% with the same setting. When comparing two banks, compare the rate first and the compounding second.

If you choose a payout FD, the bank sends you the interest every month or quarter instead of adding it to the deposit, so there is no compounding. The maturity figure on this calculator does not apply to that case. Work out a payout FD like this:

• Interest per payout = deposit × rate ÷ number of payouts per year.
• ₹1,00,000 at 7% paid quarterly gives ₹1,750 a quarter; paid monthly, about ₹583 a month.
• Over 5 years you receive ₹35,000 in total and get back the ₹1,00,000 at the end.

Compare that ₹35,000 with ₹41,478 from the cumulative version. The difference of about ₹6,478 is the interest-on-interest you give up in exchange for regular income. Choose payout only if you will spend the interest; if you would just park it in a savings account, the cumulative option usually leaves you with more.

The calculator shows interest before tax. Banks deduct TDS on deposit interest only when the interest from that one bank in a financial year crosses ₹50,000, or ₹1,00,000 if you are a senior citizen aged 60 or more. These limits apply from 1 April 2025 and are unchanged for tax year 2026-27.

You can use the calculator to see whether you will cross the limit. ₹1,00,000 at 7% compounded quarterly earns about ₹7,186 in the first year, so a deposit of roughly ₹6.96 lakh earns about ₹50,000 in a year, and roughly ₹13.9 lakh for the senior-citizen limit. The limit counts all your deposits at the same bank together, so add them up before you decide.

As per current reports, TDS is generally 10% if the bank has your PAN and 20% if it does not. From 1 April 2026, Forms 15G and 15H have reportedly been replaced by a single Form 121, which you submit to each bank separately if you qualify for interest without TDS. Confirm the form and eligibility with your bank. TDS is not the final tax: the interest is still added to your income and taxed at your slab rate.

For the October–December 2026 quarter, post office time deposits pay 6.9% for 1 year, 7.0% for 2 years, 7.1% for 3 years and 7.5% for 5 years. These are set by the government each quarter and make a useful yardstick when a bank quotes you a rate for the same tenure.

Entered in this calculator, ₹1,00,000 at 7.5% for 5 years shows about ₹1,44,995 with quarterly compounding and ₹1,43,563 with yearly compounding. How the post office credits and pays interest decides which figure is closer, so treat the pair as a range and check the scheme terms before you invest.

If your bank offers a separate senior-citizen rate, enter that rate rather than the regular one. For tenures under a year, such as 0.25 years, banks may calculate interest differently from a compounding formula, so rely on the bank's own quote for short deposits.