Fixed Deposit Calculator
Total Interest Earned: ₹0
Maximizing Returns with Fixed Deposits
Fixed Deposits (FDs) remain one of India’s most popular investment options due to their safety and guaranteed returns. Our FD calculator helps you:
- Plan short-term and long-term investments
- Compare different bank interest rates
- Understand compounding benefits
- Calculate accurate maturity amounts
- Make informed investment decisions
How FD Interest Calculation Works
FD maturity amount is calculated using compound interest formula:
A = P × (1 + r/n)^(n×t)
Where:
A = Maturity Amount
P = Principal Amount
r = Annual Interest Rate (decimal)
n = Compounding Frequency
t = Tenure in Years
FD Interest Rates Comparison
| Tenure | General Public | Senior Citizens |
|---|---|---|
| 1-2 Years | 5.5-6.5% | 6.0-7.5% |
| 2-5 Years | 6.0-7.0% | 6.5-8.0% |
| 5+ Years | 6.5-7.5% | 7.0-8.5% |
Fixed Deposit FAQs
1. What is premature withdrawal penalty?
Most banks charge 0.5-1% penalty on the interest rate for early withdrawals.
2. Are FD returns taxable?
Yes, interest income is taxable as per your income tax slab.
3. What is TDS on FDs?
Banks deduct 10% TDS if interest exceeds ₹40,000 annually (₹50,000 for senior citizens).
4. Can I get monthly interest payouts?
Yes, most banks offer monthly, quarterly, or cumulative interest options.
5. Difference between FD and RD?
FD is lump-sum investment while RD involves regular monthly deposits.
6. Are corporate FDs safe?
Corporate FDs offer higher rates but carry more risk than bank FDs.
7. Can NRIs open FDs?
Yes, through NRE/NRO accounts with proper KYC documentation.
8. What is auto-renewal?
Automatic renewal of FD at maturity using same terms unless instructed otherwise.
9. How to claim tax exemption?
Submit Form 15G/15H if eligible to avoid TDS deduction.
10. Minimum FD tenure?
7 days to 10 years depending on the bank.
11. Joint FD account benefits?
Easy transfer to survivor and combined investment capacity.
12. Loan against FD?
Available up to 90% of FD value at 1-2% above FD rate.
13. Senior citizen benefits?
0.25-0.75% higher rates and tax benefits.
14. FD insurance coverage?
DICGC insures up to ₹5 lakh per depositor per bank.
15. Cumulative vs non-cumulative?
Cumulative pays interest at maturity, non-cumulative gives regular payouts.
16. Tax-saving FDs?
5-year lock-in with tax benefits under Section 80C up to ₹1.5 lakh.
17. Floating rate FDs?
Interest rate linked to market benchmarks like RBI repo rate.
18. FD nomination facility?
Mandatory to provide nominee details for all FDs.
19. Sweep-in FDs?
Automatic conversion of excess savings account balance into FDs.
20. E-FD facilities?
Most banks offer online FD booking and management through net banking.
Leave a Reply