FD Calculator

Calculate FD maturity amount, interest earned and effective yield for any bank's fixed deposit.

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Enter your FD details above to calculate maturity amount

Current FD rates — major Indian banks (2024-25)

Approximate rates for general public for 1–2 year tenure. Senior citizens get an additional 0.25–0.5% over these rates.

Bank1 Year2 Years3 Years5 Years
SBI6.80%7.00%6.75%6.50%
HDFC Bank6.60%7.00%7.00%7.00%
ICICI Bank6.70%7.00%7.00%7.00%
Axis Bank6.70%7.10%7.10%7.00%
Kotak Mahindra7.10%7.10%7.00%6.20%

Rates are indicative and change frequently. Always check the official bank website for the latest rates before investing.

How FD interest is calculated

Compound Interest (standard)
A = P × (1 + r/n)^(n×t)
P = principal, r = rate (decimal), n = compounding periods/year, t = years. Most bank FDs use quarterly compounding (n=4).
Simple Interest
A = P × (1 + r × t)
Used for short-tenure FDs (under 6 months) at some banks and for non-cumulative FDs where interest is paid out periodically.

Frequently asked questions

Is FD interest taxable?

Yes. FD interest is added to your total income and taxed at your income tax slab rate. If total interest from a bank exceeds ₹40,000 (₹50,000 for senior citizens) in a financial year, the bank deducts TDS at 10%. If you don't have a PAN on record, TDS is 20%.

Can I break an FD before maturity?

Yes, most banks allow premature withdrawal with a penalty of 0.5–1% off the applicable rate. Some tax-saving FDs (under Section 80C) have a mandatory 5-year lock-in and cannot be broken.

What is the DICGC insurance limit for FDs?

DICGC (Deposit Insurance and Credit Guarantee Corporation) insures deposits up to ₹5 lakh per depositor per bank — including principal and interest across all deposits in that bank. This covers savings, current, FD and RD accounts combined.

What is the difference between cumulative and non-cumulative FDs?

Cumulative FDs reinvest the interest — you receive the total (principal + compounded interest) at maturity. Non-cumulative FDs pay interest monthly, quarterly, or annually. Non-cumulative is suitable for retirees needing regular income.

Can I get a loan against my FD?

Yes. Most banks offer overdraft or loan against FD at an interest rate of 0.5–2% above the FD rate. You can borrow up to 90% of the FD value without breaking the deposit, keeping your interest income intact.