FD Calculator: Fixed Deposit Maturity Amount & Interest
See what your fixed deposit will be worth at maturity. Indian banks compound FD interest quarterly, so you earn a little more than the headline rate.
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FD Maturity Formula
r = annual rate ÷ 100 · n = 4 for quarterly · t = years
Example: ₹1 lakh at 7% for 5 years, compounded quarterly, matures at ₹1,41,478 — an effective yield of about 7.19% a year.
₹1 Lakh FD Maturity by Rate and Tenure
| Rate | 1 year | 3 years | 5 years |
|---|---|---|---|
| 6% | ₹1,06,136 | ₹1,19,562 | ₹1,34,686 |
| 6.5% | ₹1,06,660 | ₹1,21,341 | ₹1,38,042 |
| 7% | ₹1,07,186 | ₹1,23,144 | ₹1,41,478 |
| 7.5% | ₹1,07,714 | ₹1,24,972 | ₹1,44,995 |
Tax and TDS on FD Interest
- FD interest is added to your income and taxed at your slab rate.
- Banks deduct 10% TDS once interest from one bank crosses ₹50,000 in a financial year (₹1 lakh for senior citizens). Submit Form 15G/15H if your total income is below the taxable limit.
- A 5-year tax-saver FD qualifies for Section 80C under the old regime, but cannot be broken early.
FD vs Other Safe Options
PPF earns 7.1% tax-free for 15 years, while small finance banks may offer higher FD rates (deposits up to ₹5 lakh per bank are insured by DICGC). For goals beyond five years, compare with a debt or hybrid mutual fund.
Frequently Asked Questions
How is FD interest calculated in India?
Most banks compound quarterly for cumulative FDs. Non-cumulative FDs pay interest out monthly or quarterly instead of compounding it.
Is FD interest taxable?
Yes, at your income-tax slab rate, in the year it accrues — even if you only receive it at maturity.
What happens if I break an FD early?
Banks usually pay the rate for the period actually held, minus a penalty of 0.5–1%.
Are FDs safe?
DICGC insures deposits up to ₹5 lakh per depositor per bank, including interest.