How to use the FD Calculator (Fixed Deposit Maturity)
- Enter the deposit amount.
- Enter the FD interest rate.
- Enter the tenure.
- See the maturity value and interest.
FD maturity formula
Maturity = P × (1 + r/n)n×t, where n is how many times interest is compounded per year (4 for quarterly) and t is the tenure in years.
Example: ₹1,00,000 at 7% for 3 years, compounded quarterly, matures at about ₹1,23,144.
Tax on FD interest
FD interest is fully taxable at your slab rate. Banks deduct 10% TDS if interest exceeds ₹50,000 in a year (₹1 lakh for senior citizens). If your total income is below the taxable limit, submit Form 15G (or 15H if you are 60+) to avoid TDS. A 5-year tax-saver FD qualifies for 80C in the old regime.
Frequently asked questions
How is FD interest calculated?
Most banks compound FD interest quarterly. The calculator uses compound interest with your chosen frequency.
Is FD interest taxable?
Yes, it is added to your income and taxed at your slab rate.
These tools give estimates for general guidance and are not financial or tax advice. Rates and rules can change; check official sources before making decisions.