FD Calculator

An FD calculator calculates the maturity value of the deposited amount. You can use the web FD calculator to understand the returns on your investments supported following factors:

  • Deposit Amount – This is often the amount that you invest once in your FD account. The minimum deposit amount should be ₹ 1,000.FD Calculator
  • Deposit Tenure – Maturity value also depends on the amount that you invest your money in FD. 
  • Interest Compound Frequency – This calculates the maturity amount supported monthly, quarterly, half-yearly, or annual frequency.

Fixed Deposit Interest Calculator

Periodic Interest Payout – During this option, you’d receive a hard and fast FD interest rate at the top of each period (say, a quarter). The interest amount would remain unchanged through the tenure of the FD. The entire principal would be repaid at the top of the amount.

Cumulative deposit – You can remember having studied “compound interest” in secondary school. Say, you place a deposit of ₹ 10,000/- with Bank A at 10% p.a. for 3 years. Now, what proportion of money would you get at the top of three years?

Is it ₹ 10,000 in principal plus 10% interest or ₹ 1,000 multiplied by 3? That involves ₹ 13,000. However, if you use the FD interest calculator here, the result is going to be ₹ 13,449. Why does the bank pay you this extra ₹ 449? this is often the compounded FD interest.

In simple terms, interest on bank FD’s is usually compounded quarterly. So, the rate of interest means 2.5% per quarter. At the top of a half-moon, the bank credits ₹ 250 to your time deposit account, and in the next quarter, the interest payable is 2.5% on ₹ 10,250 and not on ₹ 10,000. This process repeats itself for 12 quarters and earns you a complete interest of ₹ 3,449.

The more the compounding frequency, the higher the interest a customer earns on FD. So, rather than quarterly compounding, if the above FD was on a monthly compounding basis, the interest amount would be ₹ 3,482 rather than ₹ 3,449 with quarterly compounding.

In the context of fixed deposits, FD interest compounding refers to earning interest on the interest itself! Slightly complicated on the other hand you create extra money this way!

FD Maturity Calculator

The interest earned on an FD depends on the deposit amount, interest applicable, deposit tenure, and therefore the sort of interest calculation frequency. Interest on FD is often calculated monthly, quarterly, half-yearly, and annually. The rate of interest for senior citizens is above the traditional rates.

Suppose if you create an investment of ₹ 1,00,000 in FD for a 5-year tenure at a rate of interest of 7.00% for depositors below 60 years and 7.50% for senior citizens. The interest calculation on the deposited amount is completed quarterly. The maturity amount for this sediment amount is ₹ 1,41,478 and the total interest earned is ₹ 41,478 for below 60 years aged citizens.

FD Calculation Formula

FD investors can calculate the returns and maturity amount on a hard and fast deposit by using the FD maturity calculator. The FD maturity calculator is a web tool that helps one determine the FD rate of interest earned and the maturity amount, on the idea of a mathematical formula. The formula to calculate the FD returns is, A=P(1+r/n)^n*t. Here, A is that the maturity amount, P is that the principal amount invested within the FD, r is that the rate of interest, and the tenure. The FD rate of interest calculator or FD maturity calculator may be a reliable, and convenient tool that helps one to work out the returns offered on FD.

Income Tax on Fixed Deposit Interest

Interest income from FD’s is taxed at the rate applicable to the time deposit account holder. It means the interest income forms a part of the entire income of the account holder while and it’s taxed as per the applicable tax slab the individual falls under.

One word of caution – interest on deposits is to be taxed on accounting and not on a receipt basis. Say, you place a cumulative deposit with a bank for five years and hence will receive interest only at the top of 5 years. 

TDS on FD Interest

Banks are required to deduct TDS on FD interest when the interest exceeds ₹ 40,000/- during a fiscal year. This is often calculated with all branches of an equivalent bank taken together. just in case you’ve got not provided your PAN details to the bank or NBFC, then a TDS of 20% is going to be levied.

In the case of companies, they need to deduct TDS on FD interest at 10% when the interest earned during a year exceeds ₹ 5,000/-.

FD Interest Rates Calculator in India

Bank Interest Rates FD Tenure
SBI Fixed Deposit 2.90% – 5.40% 7 Days – 10 Years
HDFC Bank Fixed Deposit 2.50% – 5.50% 7 Days – 10 Years
ICICI Bank Fixed Deposit 2.50% – 5.50% 7 Days – 10 Years
Axis Bank 2.50% – 5.50% 7 Days – 10 Years
ICICI Home Finance 4.30% – 6.45% 12 Months – 120 Months
Kotak Bank 2.50% – 5.30% 7 Days – 10 Years
PNB Housing Finance 5.90% – 6.70% 12 Months – 120 Months
IDFC First Bank 2.75% – 6.00% 7 Days – 10 Years
Bank of Baroda 2.80% – 5.25% 7 Days – 10 Years
Citibank 2.40% – 3.50% 7 Days – 1825 Days
IDBI Bank 2.90% – 5.10% 7 Days – 20 Years
Indian Bank 2.90% – 5.25% 7 Days – 10 Years
Indian Overseas Bank 3.40% – 5.20% 7 Days – 10 Years
OBC 3.00% – 5.30% 7 Days – 10 Years
PNB 3.00% – 5.30% 7 Days – 10 Years
HDFC 5.75% – 6.25% 33 Months – 99 Months
Allahabad Bank 2.90% – 5.25% 7 Days – 10 Years
Andhra Bank 3.00% – 5.60% 7 Days – 10 Years
Bank of India 3.25% – 5.30% 7 Days – 10 Years
Bank of Maharashtra 2.75% – 4.90% 7 Days – 10 Years
Canara Bank 2.95% – 5.50% 7 Days – 10 Years
Central Bank of India 2.75% – 5.10% 7 Days – 10 Years
Punjab and Sind Bank 3.10% – 5.25% 7 Days – 10 Years
UCO Bank 2.75% – 5.00% 7 Days – 10 Years
Union Bank of India 3.00% – 5.60% 7 Days – 10 Years
United Bank of India 3.00% – 5.30% 7 Days – 10 Years
IndusInd Bank 3.00% – 6.50% 7 Days – 10 Years
Karur Vysya Bank 3.50% – 5.75% 7 Days – 5 Years
RBL Bank 3.25% – 6.60% 7 Days – 20 Years
Yes Bank 3.50% – 6.75% 7 Days – 10 Years
HSBC Bank 2.25% – 4.00% 7 Days – 60 Months
Standard Chartered Bank 2.50% – 5.40% 7 Days – 5 Years
LIC Housing Finance 5.50% – 5.60% 18 Months – 5 Years
Corporation Bank 3.00% – 5.60% 7 Days – 10 Years
Syndicate Bank 2.95% – 5.50% 7 Days – 10 Years
DCB Bank 4.25% – 6.75% 7 Days – 35 Months
Dhan Laxmi Bank 3.50% – 5.60% 7 Days – 10 Years
Karnataka Bank 3.40% – 5.70% 7 Days – 10 Years
South Indian Bank 3.50% – 5.65% 7 Days – 10 Years
Federal Bank 2.50% – 5.50% 7 Days – 4 Years
Jammu And Kashmir Bank 3.00% – 5.30% 7 Days – 10 Years
Lakshmi Vilas Bank 2.50% – 6.00% 7 Days – 10 Years
Bajaj Finance 6.15% – 7.00% 12 Months – 60 Months
DBS Bank 2.50% – 5.50% 7 Days – 10 Years
Bandhan Bank 3.00% – 6.00% 7 Days – 10 Years
AU Small Finance Bank 3.50% – 6.50% 7 Days – 120 Months
Ujjivan Small Finance Bank 3.05% – 6.50% 7 Days – 10 Years
Equitas Small Finance Bank 3.60% – 6.80% 7 Days – 10 Years
Jana Small Finance Bank 2.50% – 7.25% 7 Days – 10 Years
ESAF Small Finance Bank 4.50% – 6.50% 7 Days – 3653 Days
India Post Office 5.50% – 6.70% 7 Days – 5 Years

FAQs

✅ How is FD interest calculated?

The FD rate is calculated when you multiple the principal, rate of interest, and tenure. It has a standard formula to correctly calculate the FD rate for the number of periods of time.

✅ Is FD interest paid monthly?

The investment you are doing in a particular tenure ranges from 7 days to 10 years. The same tenure period has been applied for all the banks. The return on investment is compound. It can be monthly, quarterly, or annually.

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