FD Calculator

Comparing fixed deposits with confidence

A fixed deposit is simple: you lock in a rate and know exactly what you will get. The details that matter are the compounding frequency, the tenure and the tax you will pay on the interest. Most banks compound quarterly, which is why their maturity figures are slightly higher than a simple yearly calculation. ₹1 lakh at 7% for three years grows to about ₹1,23,144 with quarterly compounding, compared with ₹1,22,504 if interest were added just once a year.

Use this calculator to compare offers from different banks on equal terms. A higher rate for a slightly longer tenure is not always better if you might need the money early, because premature withdrawal usually carries a penalty and a reduced rate. Small finance banks often advertise higher rates; check that the deposit is covered by deposit insurance, which protects up to ₹5 lakh per depositor per bank.

Tax changes the real return. The interest counts as part of your yearly income and is taxed at whatever slab rate applies to you, and the bank deducts TDS once your interest for the year passes the threshold. If you are in a high tax bracket, the post-tax return may barely beat inflation. Senior citizens usually receive an extra rate, so enter the actual rate offered to you. If you rely on the interest for monthly expenses, choose a payout option instead of a cumulative deposit, and remember that payouts earn less overall because the interest is not reinvested. Splitting a large sum across a few deposits with different maturity dates also keeps some money available without breaking every deposit.