FD Calculator 2026

Bank	General Rate (1 yr)	Senior Citizen (1 yr)	Maturity on ₹1L (General)
SBI	6.80%	7.30%	₹1,07,088
HDFC Bank	7.00%	7.50%	₹1,07,229
ICICI Bank	7.00%	7.50%	₹1,07,229
Axis Bank	7.10%	7.85%	₹1,07,311
Kotak Mahindra	7.10%	7.60%	₹1,07,311
Bank of Baroda	6.85%	7.35%	₹1,07,129
Post Office (TD)	6.90%	6.90%	₹1,07,129

What is an FD Calculator?

An FD (Fixed Deposit) calculator is a free online financial tool that helps you instantly estimate the maturity amount, total interest earned, and effective annual yield of your fixed deposit investment. Instead of manually applying the complex compound interest formula, you simply enter your principal, interest rate, tenure, and compounding frequency — and the calculator does the rest in milliseconds.

Our FD calculator also includes features that no competitor offers: a TDS automatic warning (when interest exceeds ₹40,000/year), a Senior Citizen toggle (+0.50% bonus rate), a Cumulative vs Non-Cumulative FD toggle showing monthly payout amounts, and a Goal-Based Reverse Calculator to find how much to invest for a target amount.

How is FD Interest Calculated? (Formula)

Fixed deposits use the compound interest formula. Most banks compound quarterly:

A = P × (1 + r/n)^(n×t)

A = Maturity Amount
P = Principal (₹1,00,000)
r = Annual interest rate ÷ 100 (0.071 for 7.1%)
n = Compounding periods per year (4 for quarterly)
t = Tenure in years

Example: ₹1,00,000 at 7.1% quarterly for 1 year = ₹1,00,000 × (1.01775)⁴ = ₹1,07,230

The effective annual yield is always higher than the nominal rate when compounding more than once per year. At 7.1% nominal with quarterly compounding, the effective yield is 7.23%. Monthly compounding at 7.1% gives an effective yield of 7.35%.

Senior Citizen FD — Extra 0.50% Benefit

All scheduled commercial banks in India offer a special 0.50% additional interest rate per annum to senior citizens (age 60 and above) on their FD investments. This RBI-mandated benefit is offered as encouragement for senior citizens to maintain savings, as they often depend on FD interest for regular income.

The impact is significant: At SBI's general rate of 6.80%, ₹10 lakhs would earn ₹5,81,000 over 7 years. At the senior citizen rate of 7.30%, the same investment earns ₹6,37,000 — an extra ₹56,000 simply for being above 60. Super senior citizens (75+) may get an additional special scheme — check individually with each bank.

The TDS exemption limit is also higher for seniors: ₹50,000/year instead of ₹40,000, and they can submit Form 15H (instead of 15G) to avoid TDS if their income is below the taxable limit.

TDS on FD Interest — When is Tax Deducted?

Under Section 194A of the Income Tax Act, banks deduct TDS (Tax Deducted at Source) on FD interest when the total interest credited across all your FDs in that bank exceeds:

₹40,000/year — for general customers
₹50,000/year — for senior citizens (60+)

The TDS rate is 10% (if PAN is provided) or 20% (without PAN). TDS is deducted at the time of crediting interest, not at maturity.

How to avoid TDS: Submit Form 15G (for those below 60 with income below the basic exemption limit of ₹3,00,000) or Form 15H (for seniors with income below taxable threshold) to your bank at the beginning of each financial year. If TDS is already deducted but you are not liable, claim a refund in your ITR.

Tax-Saver FD — Section 80C Benefit

The 5-Year Tax-Saver Fixed Deposit scheme allows you to claim a deduction of up to ₹1,50,000 per year under Section 80C of the Income Tax Act — but only if you are filing under the old tax regime. This deduction reduces your taxable income, saving you up to ₹46,800 annually (₹1,50,000 × 31.2% for the 30% slab with cess).

Key rules: (a) Mandatory 5-year lock-in — premature withdrawal NOT allowed. (b) The principal gets 80C benefit, but the interest earned is fully taxable every year. (c) Joint FDs get the 80C benefit only for the first/primary holder. (d) The new tax regime (FY 2025-26) does not allow 80C deductions — choose carefully.

Current 5-Year Tax-Saver FD rates (March 2026): SBI 6.50%, HDFC 7.00%, ICICI 7.00%, Axis 7.00%, Post Office NSC 7.70% (similar).

Cumulative vs Non-Cumulative FD — Which to Choose?

Feature	Cumulative FD	Non-Cumulative FD
Interest Payment	At Maturity	Monthly/Quarterly/Half-yearly
Compounding	Yes — maximizes returns	No — simple interest payout
Best For	Long-term wealth building	Retirees needing regular income
Returns	Higher (due to compounding)	Lower (no compounding)
TDS	Deducted at crediting time	Deducted each payout period

एफडी कैलकुलेटर — FD Calculator in Hindi

एफडी (Fixed Deposit) कैलकुलेटर एक मुफ्त ऑनलाइन टूल है जो आपकी फिक्स्ड डिपॉजिट पर मिलने वाला मैच्योरिटी अमाउंट और कुल ब्याज तुरंत बताता है। भारत में मार्च 2026 की एफडी ब्याज दरें इस प्रकार हैं — SBI: 6.80%, HDFC: 7.00%, ICICI: 7.00%, Axis Bank: 7.10%। सीनियर सिटीजन (60+ वर्ष) को 0.50% अतिरिक्त ब्याज मिलता है।

उदाहरण: यदि आप ₹1,00,000 को Axis Bank में 7.10% की दर पर 1 साल के लिए जमा करते हैं (तिमाही चक्रवृद्धि), तो मैच्योरिटी पर आपको ₹1,07,230 मिलेगा। कुल ब्याज = ₹7,230। यदि ब्याज ₹40,000/वर्ष से अधिक है, तो बैंक 10% TDS काटेगा (धारा 194A)। TDS बचाने के लिए Form 15G/15H जमा करें।

5 साल की टैक्स-सेवर FD पर आप Section 80C में ₹1.5 लाख तक की छूट पा सकते हैं — लेकिन केवल पुरानी कर व्यवस्था में। नई कर व्यवस्था में यह लाभ नहीं मिलता।

FD vs PPF vs RD — Which is Better?

The right choice depends on your goals, tax bracket, and liquidity needs:

Choose FD if: You want flexible tenure (7 days to 10 years), need liquidity (premature withdrawal possible with small penalty), or want to invest a lump sum for a specific short to medium-term goal.
Choose PPF if: You are in the 20–30% tax bracket and can lock money for 15 years. PPF's EEE tax status means 7.1% effectively becomes 10.3%+ on a pre-tax basis for a 30% taxpayer. PPF also builds retirement corpus.
Choose RD if: You want to invest monthly (like SIP) rather than a lump sum. RD is ideal for building discipline savings habits, and the maturity is predictable.

Use our Income Tax Calculator to determine your slab before deciding between FD (taxable) and PPF (tax-free). Also check our PPF Calculator for detailed PPF projections.

Frequently Asked Questions

SBI (State Bank of India) offers FD interest rates of 6.80% per annum for the general public and 7.30% for senior citizens (60+ years) for a 1-year tenure as of March 2026. SBI recently revised its FD rates following RBI repo rate adjustments. Tenure-wise rates vary: 7 days–45 days (3.50%), 46 days–179 days (5.50%), 180 days–364 days (6.25%), 1 year (6.80%), 2 years (7.00%), 3–5 years (6.75%), and 5–10 years (6.50%). Tax-saver 5-year FD earns 6.50% (general) / 7.50% (senior).

FD interest with quarterly compounding uses the formula: A = P × (1 + r/4)^(4×t). Here P = Principal, r = Annual interest rate (as decimal), t = Tenure in years. Example: ₹1,00,000 at 7.1% for 1 year = ₹1,00,000 × (1 + 0.071/4)^4 = ₹1,00,000 × (1.01775)^4 = ₹1,07,230. The effective annual yield is (1.01775)^4 – 1 = 7.23%, which is slightly higher than the nominal 7.1% due to quarterly compounding.

Yes, FD interest is fully taxable in India as "Income from Other Sources" under the Income Tax Act. It is added to your total income and taxed at your applicable slab rate. If you are in the 30% tax bracket, you effectively pay 30% + 4% cess = 31.2% tax on FD interest. However, you can save tax by investing in a 5-Year Tax-Saver FD (Section 80C deduction up to ₹1.5 lakh). Note: If FD interest in a financial year exceeds ₹40,000 (₹50,000 for seniors), TDS at 10% is deducted by the bank.

TDS (Tax Deducted at Source) under Section 194A is deducted when your total FD interest from a bank exceeds ₹40,000 in a financial year (₹50,000 for senior citizens). The TDS rate is 10% if you have a PAN, and 20% without PAN. Important: TDS is not your final tax—it is an advance tax credit. If your total income is below the taxable limit, you can submit Form 15G (for those under 60) or Form 15H (for seniors) to prevent TDS deduction. If TDS is already deducted but you are not liable to pay tax, you can claim a refund when filing ITR.

A Tax-Saver Fixed Deposit is a special FD with a 5-year lock-in period that qualifies for Section 80C deduction under the Income Tax Act. You can invest up to ₹1,50,000 per year and claim it as a deduction from your taxable income. At a 30% tax slab, this saves you ₹46,800 (₹1,50,000 × 31.2%) in taxes. Caution: (1) The principal is exempt under 80C, but the INTEREST earned is still fully taxable. (2) Premature withdrawal is NOT permitted. (3) Only the old tax regime allows 80C deductions—the new tax regime does not offer this benefit.

As of March 2026, among major banks, Axis Bank and Kotak Mahindra Bank offer the highest standard FD rate of 7.10% for 1-year tenure (general public). Small Finance Banks like AU Small Finance Bank and Jana Small Finance Bank offer higher rates up to 8.50%–9.00% but carry higher risk. For senior citizens, Axis Bank offers 7.85% for 1-year FDs. HDFC Bank and ICICI Bank offer 7.00% (general) / 7.50% (senior). SBI offers 6.80% (general) / 7.30% (senior). Post Office Time Deposits offer 6.90% for 1-year tenure.

Yes, most banks allow premature withdrawal of FDs, subject to a penalty. Typically, the bank reduces the interest rate by 0.50%–1.00% on the actual tenure of the deposit. For example, if you break a 2-year FD after 1 year and the 1-year rate is 6.80%, you may get only 6.30% (6.80% – 0.50% penalty). Tax-Saver FDs (5-year term) are an exception — premature withdrawal is NOT allowed. Some banks like HDFC and SBI offer "premature-withdrawal-free" premium FDs which guarantee the full rate but offer a slightly lower initial rate.

In a Cumulative FD, the interest is compounded and added to the principal at regular intervals (monthly/quarterly). The full maturity amount (principal + all accumulated interest) is paid at the end of the tenure. This maximizes returns due to compounding and is ideal for long-term wealth building. In a Non-Cumulative FD, the interest is paid out at regular intervals (monthly, quarterly, half-yearly, or annually) directly to your bank account. No compounding occurs. This is ideal for retirees or those needing regular income. Non-cumulative FDs give slightly lower effective returns than cumulative FDs due to the lack of compounding.

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