🏛️ FD Calculator - Calculate Fixed Deposit Returns Online Free
Calculate FD maturity amount, interest earned, and yearly returns instantly. Free online FD calculator by agecalculatortool.in
🛠️ More Free Calculator Tools
📚 Understanding Fixed Deposits (FD)
A Fixed Deposit (FD) is one of India's most popular investment options, offering guaranteed returns with minimal risk. Our FD calculator helps you calculate maturity amount and interest earnings accurately based on deposit amount, interest rate, and tenure.
How FD Interest is Calculated
Indian banks use quarterly compounding for cumulative FDs. Formula: A = P(1 + r/4)^(4t). Interest rates vary by bank and tenure, typically ranging from 3% to 8% for general citizens. Senior citizens usually get 0.25% to 0.50% extra interest rate.
Cumulative vs Payout FDs
Cumulative FDs reinvest interest quarterly, resulting in compound growth. You receive principal + total interest at maturity. Payout FDs pay interest monthly or quarterly, with principal returned at maturity. Cumulative FDs yield higher total returns due to compounding. Payout FDs suit those needing regular income.
Tax on FD Interest
FD interest is fully taxable as per your income tax slab. Banks deduct TDS at 10% if interest exceeds ₹40,000 (₹50,000 for senior citizens) in a financial year. Submit Form 15G/15H if your total income is below taxable limit to avoid TDS.
❓ FD Calculator - FAQs
Q1: How is FD interest calculated?
Indian banks use quarterly compounding: A = P(1 + r/4)^(4t). For example, ₹1 lakh at 7% for 5 years grows to ₹1,41,478. Interest earned = ₹41,478.
Q2: What is the minimum FD amount?
Minimum FD is typically ₹1,000 for most banks. Some banks allow FDs from ₹100. There's no upper limit, but deposits above ₹5 lakh per bank are not fully insured by DICGC.
Q3: Is FD interest taxable?
Yes, FD interest is fully taxable. It's added to your income and taxed per your slab. TDS at 10% is deducted if interest exceeds ₹40,000/year (₹50,000 for seniors).
Q4: Which is better - cumulative or payout FD?
Cumulative FD earns more due to compounding. Payout FD provides regular income. Choose cumulative for growth, payout for monthly/quarterly income needs. Cumulative gives 5-10% higher total returns over long periods.
Q5: Is this FD calculator free?
Yes! Our FD calculator is 100% free. No registration needed. Use it to compare FD rates across different banks and tenures.