FD Calculator (Fixed Deposit)
Calculate your fixed deposit maturity amount and total interest earned. Uses quarterly compounding — the standard for Indian banks.
Current FD rates — top Indian banks (2025)
For 1–2 year tenure. Senior citizens get +0.25–0.50% extra. Rates updated June 2025.
| Bank | 1 yr | 2 yr | 3 yr | Senior + |
|---|---|---|---|---|
| SBI | 6.80% | 7.00% | 6.75% | +0.50% |
| HDFC Bank | 6.60% | 7.00% | 7.00% | +0.50% |
| ICICI Bank | 6.70% | 7.00% | 7.00% | +0.50% |
| Axis Bank | 6.70% | 7.10% | 7.10% | +0.50% |
| Kotak Bank | 7.10% | 7.10% | 7.10% | +0.50% |
| IDFC First | 7.25% | 7.25% | 7.25% | +0.50% |
| Small Finance Banks* | 8.00–9.00% | 8.25–9.00% | 8.00–9.00% | +0.50% |
*Includes AU, Ujjivan, Jana, Equitas. DICGC insured up to ₹5 lakh. Verify rates on bank websites before investing.
How FD interest is calculated
Indian banks compound fixed deposit interest quarterly. The maturity formula:
Where P = principal, r = annual rate, n = compounding frequency (4 for quarterly), t = years. A ₹1,00,000 FD at 7% for 5 years matures to approximately ₹1,41,478 — earning ₹41,478 in interest.
FD vs SIP — which is better?
FDs offer guaranteed, fixed returns (currently 6–7.5% at major banks) with zero market risk — ideal for capital protection. SIPs in equity funds historically return more (10–14%) but fluctuate with markets. Most planners suggest FDs for short-term goals and emergency funds, SIPs for long-term wealth. Compare with our SIP calculator.
Frequently asked questions
Yes, FD interest is fully taxable as per your income tax slab in India. Banks deduct TDS at 10% if annual interest exceeds ₹40,000 (₹50,000 for senior citizens). This calculator shows pre-tax maturity value.
Premature withdrawal typically incurs a penalty of 0.5–1% on the interest rate, and you earn interest only for the actual period held at the applicable rate for that period.
RBI convention — virtually all Indian banks compound FD interest quarterly. Quarterly compounding earns slightly more than yearly: 7% compounded quarterly is effectively 7.19% per year.