Fixed Deposit Calculator India 2025
Estimate FD maturity value or monthly/quarterly/annual interest payout, including tax impact, for any bank and tenure.
₹
One Lakh rupees
₹1,000₹20,00,000
Minimum amount varies by bank (typically ₹1,000)
years
1 year10 years
%
Current FD rates: 6.5% - 8.5%
Cumulative FDs usually give higher maturity. Payout FDs suit monthly/quarterly income needs.
FD Maturity Summary
FD Benefits
Capital Protection
Principal amount is 100% safe and guaranteed
Fixed Returns
Interest rate locked for entire tenure
Flexible Tenure
Choose from 7 days to 10 years based on goals
Government Protection
DICGC insurance covers up to ₹5 lakh per depositor per bank
Cumulative vs Payout FD: Which one should you choose?
Best for (Cumulative FD)
- Maximising maturity value via compounding
- Goals where you don’t need monthly cashflow
- Parking lump-sum for 1–5 years with certainty
Best for (Payout FD)
- Monthly/quarterly income needs (retirees, rent, expenses)
- Keeping principal intact while using interest cashflow
- Budgeting predictable income with lower volatility
Tax & TDS implications (important)
- FD interest is typically taxable as per your income slab.
- If the bank deducts TDS, it impacts cashflow (especially for payout FDs).
- Use Form 15G/15H (eligible cases) to avoid TDS; final tax depends on your ITR.
Tips & hidden charges to watch
- Premature withdrawal penalty (rate cut/interest adjustment)
- Lock-in clauses on “special” FDs
- Auto-renewal at prevailing rates if not instructed
- Loan/OD against FD: check spread and processing fees
Nomination & what happens after demise
Add a nominee when opening/renewing an FD. It helps the bank transfer proceeds faster to the right person, reducing delays and paperwork. Without nomination, legal heirs may need additional documents (varies by bank and amount).
How to open an FD (quick)
Open online (netbanking/app) or at branch. Keep PAN, KYC (ID/address), and nominee details handy. Choose tenure, interest option (cumulative/payout), and payout frequency if applicable.
Fixed Deposit Calculation Formulas
Understand the mathematical formulas used to calculate FD maturity amounts, interest, and returns.
Maturity Amount = Principal × (1 + r/n)^(nt)Example:
₹1,00,000 FD at 6% p.a. for 3 years (quarterly compounding)
1,00,000 × (1 + 0.06/4)^(4×3)
= ₹1,19,562
Variables:
Principal - Initial deposit amount
r - Annual interest rate (as decimal)
n - Compounding frequency per year
t - Tenure in years
Interest Earned = Maturity Amount - PrincipalExample:
For ₹1,00,000 growing to ₹1,19,562
1,19,562 - 1,00,000
= ₹19,562
Variables:
Maturity Amount - Total amount at maturity
Principal - Initial deposit amount
Periodic Payout ≈ Principal × (r / m)Example:
₹1,00,000 FD at 7.2% p.a. with monthly payout
1,00,000 × (0.072 / 12)
= ≈ ₹600 per month (before tax)
Variables:
Principal - Initial deposit amount
r - Annual interest rate (as decimal)
m - Payouts per year (12 monthly, 4 quarterly, 1 annual)
These formulas provide the mathematical foundation for the calculations. Actual results may vary based on rounding, compounding frequency, and specific lender policies.
FD vs RD: Quick Comparison
| Aspect | Fixed Deposit (FD) | Recurring Deposit (RD) |
|---|---|---|
| Investment Type | One-time lump sum deposit | Regular monthly deposits |
| Minimum Amount | ₹1,000 - ₹10,000 (varies by bank) | ₹500 - ₹1,000 per month |
| Interest Rate | 6.5% - 8.5% (higher rates available) | 6.0% - 8.0% (usually 0.25% lower than FD) |
| Flexibility | Fixed amount, one-time commitment | Monthly commitment, builds discipline |
| Premature Withdrawal | Allowed with penalty (0.5-1%) | Allowed with penalty, but affects returns |
| Best For | Lump sum parking, emergency fund | Regular savers, goal-based savings |
| Returns | Higher due to compound interest | Lower due to staggered deposits |
Quick Decision Guide
| Scenario | Choose FD if you... | Choose RD if you... |
|---|---|---|
| Investment Style | Have a lump sum amount available | Want to build a regular savings habit |
| Return Preference | Want maximum returns on your investment | Are saving for a specific goal |
| Commitment | Prefer one-time investment commitment | Prefer disciplined monthly investing |
| Liquidity Need | Don't need monthly liquidity | Have monthly surplus to invest |
Compare FD Rates Across Banks
Calculate Fixed Deposit returns with different banks and find the best rates
Trusted Data Sources
All FD rates are sourced directly from official bank websites for maximum accuracy
SBI Official
HDFC Official
ICICI Official
Axis Official
Kotak Official
PNB Official
BOB Official
IOB Official
IndusInd Official
Union Bank Official
Canara Official
Fixed Deposit Calculator FAQs
Everything you need to know about fixed deposits, interest rates, and FD investment planning
What is a Fixed Deposit (FD)?
A Fixed Deposit is a financial instrument where you deposit a lump sum amount for a fixed tenure at a predetermined interest rate. The principal and interest are guaranteed and paid back at maturity. It's one of the safest investment options available.
How is FD interest calculated?
FD interest is calculated using compound interest formula: A = P(1 + r/n)^(nt), where P is principal, r is annual interest rate, n is compounding frequency, and t is time in years. The more frequent the compounding, the higher the returns.
What is the minimum and maximum amount for FD?
The minimum FD amount varies by bank, typically ranging from ₹1,000 to ₹10,000. Some banks offer special FDs with higher minimum amounts. There's usually no maximum limit, but deposits above ₹2 crore may require additional documentation.
Can I break my FD before maturity?
Yes, you can prematurely withdraw your FD, but banks usually charge a penalty of 0.5-1% and may not pay the full interest rate for the period the deposit was held. Some banks have lock-in periods where premature withdrawal isn't allowed.
Is FD interest taxable?
Yes, FD interest is taxable as per your income tax slab. TDS is deducted if interest exceeds ₹40,000 per year (₹50,000 for senior citizens). You can submit Form 15G/15H to avoid TDS if your total income is below taxable limit.
What is monthly payout in an FD?
Monthly payout means a non-cumulative (regular income) FD where the bank credits the interest to your savings account every month instead of reinvesting it. Your principal is typically returned at maturity, while the interest is paid out periodically.
What is the difference between cumulative and payout (non-cumulative) FD?
Cumulative FD reinvests interest (compounding) and pays the full amount at maturity—usually best for maximising maturity value. Payout/non-cumulative FD pays interest monthly/quarterly/annually, which is useful for regular income needs, but the overall maturity value is typically lower because interest isn’t compounded.
Who benefits the most from payout FDs?
Payout FDs are most useful for retirees, people funding monthly expenses, parents paying recurring costs (rent, EMIs, fees), or anyone who wants predictable cashflow. They’re also useful when you don’t want to withdraw principal but still need regular income.
Who should avoid payout FDs?
Avoid payout FDs if your goal is long-term wealth growth, if you don’t need periodic income, or if you want the benefit of compounding. High tax-bracket investors may also find post-tax payouts less attractive compared to alternatives like debt funds/target maturity funds depending on their situation.
How is payout FD interest calculated?
Most banks compute periodic payouts based on the principal and the annual interest rate, then credit the interest monthly/quarterly/annually. Exact payout can vary by bank due to day-count conventions (actual/365, actual/360), payout dates, and rounding. Use this calculator as an estimate and confirm the final payout with the bank’s FD advice/receipt.
Is payout FD interest taxed differently than cumulative FD interest?
No. Whether cumulative or payout, FD interest is generally taxable as 'Income from Other Sources' as per your slab. Banks may deduct TDS when thresholds are met, but TDS is not the final tax—you must reconcile it in your income tax return based on your slab and deductions.
What are the hidden charges or terms to watch for in FDs?
Look out for premature withdrawal penalties (often 0.5%–1% lower rate), lock-in clauses on special FDs, auto-renewal at prevailing rates, TDS deductions affecting cashflow (especially for payout FDs), and differences in rates between online vs branch offers. If you take a loan/OD against FD, check processing fees and the spread over FD rate.
Which banks offer the best FD rates in 2025?
Small finance banks and some private banks often offer higher FD rates (7.5-9%) compared to public sector banks (6.5-7.5%). Ujjivan Small Finance Bank, Suryoday Small Finance Bank, and IndusInd Bank typically offer competitive rates. Always check the bank's credibility and DICGC insurance coverage.
Are FDs covered under deposit insurance?
Yes, FDs are covered under DICGC (Deposit Insurance and Credit Guarantee Corporation) up to ₹5 lakh per depositor per bank. This includes both principal and interest. If you have deposits exceeding this limit, consider spreading them across multiple banks.
What happens to FD if the bank fails?
If a bank fails, DICGC insurance covers up to ₹5 lakh per depositor. The insurance amount is usually settled within 90 days. For amounts exceeding ₹5 lakh, recovery depends on the bank's liquidation process, which may take longer.