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Fixed Deposit Calculator

Use this Fixed Deposit Calculator to see your exact maturity value and interest earned, for any bank or post office FD. Adjust any input below and your results update instantly.

Your details

Adjust the inputs below and your results update instantly.

Payout type

Cumulative reinvests interest for compounding; non-cumulative pays it out periodically instead.

e.g. Cumulative

Compounding frequency

Most Indian bank FDs compound quarterly by default.

e.g. Quarterly

Senior citizen

Adds a 0.5% bonus rate as of July 2026. Common industry convention among Indian banks, not a rate set or guaranteed by RBI.

Deposit amount (₹)*

≈ ₹5.00 L

The lump sum you're depositing.

₹10K₹1Cr

e.g. ₹5,00,000

FD interest rate (% p.a.)*

The rate your bank has quoted, before any senior citizen bonus, which is added separately below.

3%10%

e.g. 7% for a 5-year FD

Tenure (years)*

FDs can run anywhere from 7 days to 10 years; this calculator models whole-year tenures.

110

e.g. 5 years

Your income tax slab rate (%)*

FD interest is fully taxable at your slab rate, used to show your actual tax liability alongside the TDS your bank withholds.

0%30%

e.g. 20%

These are example numbers. Edit any input on the left to see your own.

Your FD matures to

₹7.07 L

7.00% effective rate

Total interest

₹2.07 L

TDS withheld

₹0

₹0 withheld as TDS, but your actual tax at 20% comes to ₹41,478.

Balance vs. principal

FD balancePrincipal

Year-by-year breakdown

TDS is checked against each year’s own interest, not your FD’s total over its tenure.

YearTotal interestTDS withheldStatus

1₹35,930₹0

Below threshold

0% withheld as TDS

2₹38,511₹0

Below threshold

0% withheld as TDS

3₹41,279₹0

Below threshold

0% withheld as TDS

4₹44,245₹0

Below threshold

0% withheld as TDS

5₹47,424₹0

Below threshold

0% withheld as TDS

Compare scenarios

See how payout type or a senior citizen rate changes your total interest.

Your plan

Cumulative

₹2.07 L

Total interest

Baseline

Non-cumulative instead

Same rate & tenure

₹1.75 L

Total interest

-₹32,389

With senior citizen rate

7.50%

₹2.25 L

Total interest

+₹17,585

Worked example: your fixed deposit numbers

A step-by-step walkthrough of your FD's growth.

Step 1 · Effective rate

Including any senior citizen bonus, your effective rate is

7.00%

Step 2 · Total interest

Over 5 years, your FD earns

₹2.07 L

Step 3 · After tax

At your 20% slab rate, your after-tax interest is

₹1.66 L

✓

Your ₹5.00 L deposit earns ₹2.07 L in interest, or ₹1.66 L after tax at your slab rate.

Personalised insights

What your numbers reveal, and what changing them would do.

₹2.07 L total interest at 7.00%

Your ₹5.00 L deposit grows to ₹7.07 L at maturity.

No TDS withheld, interest stays below the threshold each year

Even a large total, spread thinly enough across years, can avoid TDS if no single year crosses the threshold.

You'd owe ₹41,478 more than the TDS withheld

At your 20% slab rate, your real tax on ₹2.07 L interest is ₹41,478, versus ₹0 withheld as TDS.

Switching to non-cumulative would change your interest by ₹32,389

Cumulative FDs compound; non-cumulative FDs pay out simple interest on the unchanged principal, so the same quoted rate produces different totals.

How this is calculated

Every step of the math behind your result, shown in the open.

Cumulative FD: compound interest

P = principal, r = annual rate (incl. any senior citizen bonus), n = compounding frequency per year, t = years, A = maturity value

Interest is added back to the principal at each compounding period, so future interest is earned on both your deposit and everything already credited.

Example: ₹5.00 L × (1 + 7.00%/4)^(4×5) → ₹7.07 L

Non-cumulative FD: simple interest

P = principal, r = annual rate (incl. any senior citizen bonus), Annual Interest = paid out each year rather than reinvested

Since each year's interest is paid out rather than added back, every year earns the same amount; there's no compounding to accelerate growth.

Example: Cumulative: see the compound-interest formula instead

TDS vs. actual tax owed

Interest = that year's interest credited, r_slab = your actual income tax slab rate

TDS is a flat-rate withholding your bank applies automatically; your real tax liability depends on your own slab rate, which can be higher or lower.

Example: ₹2.07 L interest → ₹0 TDS withheld vs. ₹41,478 actually owed at 20%

Assumptions

Tenure is modeled in whole years, while real FDs can run for any period from 7 days to 10 years.
The senior citizen bonus is a common convention (typically 0.25–0.75%), not a regulated figure, so confirm your bank's actual rate.
TDS is checked per year against this single FD's interest only. Banks actually aggregate interest across all your deposits with them for this check.
Premature withdrawal penalties aren't modeled. This assumes the FD runs its full tenure.
Figures are indicative, not tax or financial advice.

Understanding fixed deposits

The concept, the motivation, and what to watch out for.

The safest return in the market comes with a tax bill most people underestimate

A fixed deposit locks in a rate for a set tenure, with no market risk. What's easy to miss: unlike equity gains, every rupee of FD interest is taxed at your full slab rate, and your bank withholds TDS the moment your interest crosses a threshold, regardless of whether you actually owe that much tax.

This calculator projects your maturity value under either a cumulative or non-cumulative FD, and shows the TDS your bank deducts alongside what you'd actually owe at your real slab rate, often a different number.

Cumulative beats non-cumulative at the same rate

Reinvesting interest lets it compound. A non-cumulative FD paying out interest along the way earns simple, not compound, interest on the same quoted rate.

TDS isn't the same as your actual tax

Banks withhold a flat 10% once your annual interest crosses a threshold, but you might owe more (at a higher slab) or get it back entirely as a refund (if your income is below the taxable limit).

Works as a post office fixed deposit calculator too

Enter your deposit, rate, and tenure to see your maturity value, TDS withheld year by year, and your real tax liability at your own slab rate — whether that rate came from a bank or a post office Time Deposit.

Did you know?

A few facts behind fixed deposits and their taxation.

194A

FD interest TDS is checked year by year

Your bank re-checks the TDS threshold every financial year. A long-tenure FD spreading modest annual interest across several years might never trigger TDS at all, even if the total interest over its life is large.

15G/15H

There's a form to stop TDS before it happens

Form 15G (or 15H for senior citizens) lets eligible depositors declare their income is below the taxable threshold, so the bank skips TDS entirely instead of the depositor claiming a refund later.

Compounding

The compounding frequency alone changes your return

The same quoted rate pays out more over time when compounded quarterly than annually; the more frequently interest is added back, the sooner it starts earning interest of its own.

Taxable

FD interest gets no special tax treatment

Unlike long-term equity gains, every rupee of FD interest is added to your income and taxed at your slab rate; there's no exemption threshold or lower flat rate.

0.50%

The senior citizen bonus is a bank's choice, not a rule

There's no law mandating extra interest for senior citizens. Banks offer it voluntarily, and the exact bonus varies from bank to bank.

SBI vs PO

This one calculator covers SBI and post office FDs alike

An SBI fixed deposit calculator and a post office fixed deposit calculator are really just this same math with a different rate typed in — SBI and post office quote different rates, but neither changes the underlying compound- or simple-interest formula.

Frequently asked questions

Straight answers to the questions we hear most about fixed deposits.

Does this work as an SBI fixed deposit calculator?

Yes — this fixed deposit calculator works for SBI or any other bank; just enter the rate they've quoted you. SBI's own FD rates currently run roughly 3.05-6.40% p.a. for the general public (3.55-7.05% for senior citizens) depending on tenure, but always check SBI's current rate card before you enter it here, since bank rates change often.

Does this work as a post office fixed deposit calculator too?

Yes, exactly the same way. Post office FDs (officially called Time Deposits) currently pay roughly 6.90-7.50% p.a. depending on tenure, fixed for the whole term once you open it. Unlike bank FDs, post office tenures are limited to 1, 2, 3, or 5 years, and the 5-year option qualifies for a Section 80C deduction — but the TDS rules are identical to a bank FD (same ₹50,000/₹1,00,000 threshold, same 10% rate, same Form 15G/15H exemption), so this post office fixed deposit calculator applies exactly the same TDS logic once you enter your tenure's rate above.

Which bank is best for fixed deposit?

There's no single answer, since it depends on your priorities: small finance banks often quote the highest headline rates, PSU banks like SBI trade a lower rate for size and stability, and post office FDs add a government guarantee plus, on the 5-year tenure, a Section 80C deduction. Whichever you pick, check that it's DICGC-insured up to ₹5 lakh per depositor per bank, and compare the premature-withdrawal penalty, not just the headline rate.

What's the difference between cumulative and non-cumulative FDs?

A cumulative FD reinvests interest, which compounds and is paid out as one lump sum at maturity. A non-cumulative FD pays out interest periodically (monthly, quarterly, or annually) instead, so nothing compounds. At the same quoted rate, a cumulative FD always ends up worth more.

When does my bank deduct TDS on FD interest?

Once your interest from that bank crosses ₹50,000 in a financial year (₹1,00,000 for senior citizens), it withholds 10% as TDS, checked year by year, not on your FD's total interest over its whole tenure.

Is TDS the same as my final tax on FD interest?

No. TDS is just a flat-rate withholding. FD interest is taxed at your actual income tax slab rate when you file, so you may owe more (if your slab rate exceeds 10%) or get some or all of the TDS refunded (if your total income is below the taxable threshold, or your slab rate is lower).

How much extra do senior citizens get on a fixed deposit?

Most banks add 0.25–0.75% (commonly 0.50%) on top of the standard quoted rate for senior citizens. This isn't a government-mandated figure, so it's worth checking your specific bank's rate card.

Can I avoid TDS on my FD interest?

If your total income is below the taxable threshold, you can submit Form 15G (or Form 15H if you're a senior citizen) to your bank to avoid TDS being deducted in the first place, rather than claiming it back later as a refund.

Is this tax advice?

No. This tool provides indicative estimates based on your inputs and the rates in force at the time. Consult a chartered accountant for your actual tax liability on FD interest.