FD Calculator

Maturity value, TDS and what the interest is worth after tax.

Enter the deposit, rate and tenure. Add your tax slab to see what the interest is actually worth to you.

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Interest
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TDS is not the final tax

The bank deducts at 10% once annual interest crosses the threshold. If you are in a higher slab, the balance is payable with your return. Depositors who treat TDS as settlement get a surprise at filing.

Cumulative or payout

A cumulative FD reinvests interest and compounds it. A payout FD hands the interest over monthly or quarterly and returns only the principal at maturity, so the total earned is lower.

Form 15G and 15H

These prevent deduction where your total income is below the taxable limit. They do not make the interest tax-free, and filing one when your income is in fact taxable is a false declaration.

Deposit insurance

DICGC covers ₹5 lakh per depositor per bank, principal and interest together. Spreading large deposits across banks is a real protection, not a technicality.

Frequently asked questions

How often do banks compound FDs?
Quarterly, by convention, for cumulative deposits.
What is the penalty for breaking an FD early?
Typically 0.5% to 1% off the rate applicable for the period the deposit actually ran.
Are tax-saving FDs different?
Yes. They qualify under 80C, carry a five-year lock-in, and cannot be broken or borrowed against.