Investments
FY 2025-26FD Calculator
Calculate Fixed Deposit maturity amount and total interest. Compare across banks and compounding frequencies.
Quick select bank rate (as of April 2025, regular FD)
Maturity Amount
₹1,15,114
Principal
₹1.00 L
Interest Earned
₹15,114
Effective Annual Rate
7.291%
Total Return
15.11%
Frequently asked questions
Is FD interest taxable in India?
Yes. FD interest is fully taxable as "Income from Other Sources" at your applicable slab rate. If annual interest exceeds ₹40,000 (₹50,000 for senior citizens), banks deduct TDS at 10%. You must declare all FD interest in your ITR regardless of TDS.
What is the difference between cumulative and non-cumulative FD?
Cumulative FDs reinvest the interest — you receive principal + all interest at maturity. Non-cumulative FDs pay interest at intervals (monthly, quarterly, etc.), giving regular income. This calculator models the cumulative type.
What happens if I break an FD early?
Most banks charge a premature withdrawal penalty of 0.5%–1% on the applicable rate. The interest you receive will be recalculated at the rate for the period actually held, minus the penalty.
Are senior citizens eligible for higher FD rates?
Yes. Almost all major Indian banks offer an additional 0.25%–0.75% interest rate to senior citizens (age 60+) on FDs. Enable the senior citizen toggle above to see your adjusted rate.
How Fixed Deposits work in India
A Fixed Deposit (FD) is a savings instrument offered by banks and NBFCs where you deposit a lump sum for a fixed tenure at a predetermined interest rate. Unlike savings accounts, FD rates are locked in at the time of deposit and do not change with market conditions.
FD interest can be compounded quarterly, half-yearly, or annually depending on the bank. More frequent compounding results in a higher effective yield. For example, an FD at 7.5% compounded quarterly has an effective annual yield of approximately 7.71%.
Current FD rates from major Indian banks (May 2025)
| Bank | 1 Year | 3 Years | 5 Years | Senior Citizen |
|---|---|---|---|---|
| SBI | 6.80% | 6.75% | 6.50% | +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% | 7.00% | +0.50% |
| Kotak Mahindra | 7.10% | 7.25% | 6.20% | +0.50% |
* Rates are indicative and subject to change. Verify with the bank before investing.
Deciding between FD and PPF? Read our PPF vs FD comparison guide.