FD Calculator
Calculate returns on your Fixed Deposit
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Formula
A = P(1 + r/n)^(nt)Frequently Asked Questions
What is a Fixed Deposit (FD)?
A Fixed Deposit is a financial instrument offered by banks where you deposit a lump sum for a fixed tenure at a predetermined interest rate. It offers guaranteed returns and is one of the safest investment options in India.
What is the current FD interest rate in India?
FD interest rates in India typically range from 3% to 8% depending on the bank, tenure, and customer category. Senior citizens usually get 0.25-0.50% higher rates. Use our calculator to see how different rates affect your returns.
Is FD interest taxable?
Yes, FD interest is taxable as per your income tax slab. TDS is deducted at 10% if annual interest exceeds ₹40,000 (₹50,000 for senior citizens). You can submit Form 15G/15H if your total income is below the taxable limit.
What is the minimum amount for FD?
Most banks allow FDs starting from ₹1,000 to ₹10,000. There is no maximum limit. Some banks offer higher rates for amounts above ₹1 crore (bulk deposit).
Can I break my FD before maturity?
Yes, you can break (prematurely close) your FD, but you will receive a reduced interest rate (typically 0.5-1% less than the applicable rate for the period the FD was held). Some banks may also charge a small penalty.