Fixed Deposit Calculator

Calculate your FD maturity amount with quarterly compounding.

Maturity Amount

₹7,07,160

Interest Earned

₹2,07,160

Effective Yield

7.19%

FD Rates (Oct 2026)

SBI6.50% - 7.25%
HDFC Bank6.60% - 7.40%
ICICI Bank6.60% - 7.25%
Post Office6.90% - 7.50%
Bajaj Finance7.40% - 8.25%

Senior citizens typically get 0.25-0.50% extra. Rates are indicative.

FD Maturity Calculation Formula

A = P × (1 + r/n)n×t

Where A = Maturity amount, P = Principal, r = Annual interest rate, n = Compounding frequency per year, t = Tenure in years.

FD vs SIP - Which is Better?

FDs offer guaranteed returns (6-8%) with zero risk, making them ideal for short-term goals and emergency funds. SIPs in equity mutual funds offer potentially higher returns (12-15%) but with market risk, making them better for long-term wealth creation. A balanced portfolio typically includes both.

Tax on FD Interest

FD interest is taxable as per your income tax slab. Banks deduct TDS at 10% if interest exceeds ₹40,000/year (₹50,000 for senior citizens). You can submit Form 15G/15H to avoid TDS if your total income is below the taxable limit.