FD Calculator India (2026)
Calculate Fixed Deposit maturity, TDS, and compare bank rates instantly.
FD Details
💡 Quick Rates
- Post Office (5 yr)7.50%
- HDFC / ICICI (3 yr)7.25%
- SBI (5 yr)6.50%
- Senior citizen bonus+0.50%
FD Formula
The math behind your returns
A = P × (1 + r/n)n×tImportant Disclaimer
FD calculations are based on inputs provided. Actual returns may vary based on bank policies, premature withdrawal penalties, and TDS deductions. Verify rates on respective bank websites before investing.
Worked Example — How FD Maturity is Calculated
Ramesh, a 45-year-old Mumbai professional, invests ₹2,00,000 in HDFC Bank FD at 7.25% p.a. for 3 years with quarterly compounding.
A = P × (1 + r/n)^(n×t)
= ₹2,00,000 × (1 + 0.0725/4)^(4×3)
= ₹2,00,000 × (1.018125)^12
= ₹2,00,000 × 1.24027
= ₹2,48,054
- Interest earned₹48,054
- Annual interest (~₹16,018) — below ₹40,000 TDS limitNo TDS deducted ✓
- If senior citizen (7.75% rate)₹2,51,273 (+₹3,219 more)
Current FD Interest Rates — May 2026
Updated: May 2026| Bank | 1 Year | 2 Years | 3 Years | 5 Years | Senior Citizen |
|---|---|---|---|---|---|
| Post Office TD | 6.90% | 7.00% | 7.10% | 7.50% | Same rate |
| HDFC Bank | 7.10% | 7.25% | 7.25% | 7.00% | +0.50% |
| ICICI Bank | 7.10% | 7.20% | 7.20% | 7.00% | +0.50% |
| Axis Bank | 7.10% | 7.20% | 7.20% | 7.00% | +0.75% |
| SBI | 6.80% | 7.00% | 6.75% | 6.50% | +0.50% |
| Kotak Mahindra | 7.10% | 7.25% | 7.20% | 6.90% | +0.50% |
| Yes Bank | 7.50% | 7.75% | 7.25% | 7.25% | +0.50% |
Rates are indicative. Verify on official bank websites before investing. Next update: June 2026.
FD Maturity Quick Reference — ₹1 Lakh, Quarterly Compounding
Tip: For ₹5 lakh, multiply all values by 5. For ₹10 lakh, multiply by 10.
| Rate | 1 Year | 2 Years | 3 Years | 5 Years |
|---|---|---|---|---|
| 6.50% | ₹1,06,716 | ₹1,13,869 | ₹1,21,386 | ₹1,38,041 |
| 7.00% | ₹1,07,229 | ₹1,14,980 | ₹1,23,144 | ₹1,41,478 |
| 7.25% | ₹1,07,486 | ₹1,15,537 | ₹1,24,027 | ₹1,43,218 |
| 7.50% | ₹1,07,763 | ₹1,16,096 | ₹1,24,948 | ₹1,44,995 |
| 7.75% | ₹1,08,031 | ₹1,16,657 | ₹1,25,864 | ₹1,46,793 |
TDS on FD Interest — What You Need to Know (2026)
TDS applies when your total FD interest from one bank exceeds ₹40,000 in a financial year (₹50,000 for senior citizens).
| Scenario | TDS Rate |
|---|---|
| PAN submitted, interest > limit | 10% |
| No PAN submitted | 20% |
| Senior citizen, PAN submitted | 10% |
| Form 15G / 15H submitted | 0% |
Important: TDS is deducted by the bank, but FD interest is fully taxable at your income slab rate. TDS is not a final tax — declare FD interest in ITR under "Income from Other Sources."
Form 15G: For below-60 taxpayers whose total income is below taxable limit. Form 15H: For senior citizens (60+) whose tax liability is nil.
Example: Ramesh earns ₹48,054 FD interest. Bank deducts ₹4,805 TDS (10%).
In ITR (20% slab): Total tax = ₹9,611. Additional tax payable = ₹9,611 − ₹4,805 = ₹4,806.
Tax-Saving FD — Section 80C Deduction
A Tax-Saving FD allows you to claim deduction up to ₹1,50,000 under Section 80C.
| Feature | Regular FD | Tax-Saving FD |
|---|---|---|
| Lock-in period | Flexible | 5 years (mandatory) |
| Premature withdrawal | Allowed (with penalty) | NOT allowed |
| Loan against FD | Allowed | NOT allowed |
| 80C deduction | No | Yes, up to ₹1.5 lakh |
| Interest taxability | Fully taxable | Fully taxable |
| Auto-renewal | Available | NOT available |
Example: Ramesh (30% slab) invests ₹1,50,000 in Tax-Saving FD → saves ₹45,000 in income tax that year. Combined with FD interest of ~₹10,500/yr at 7%, effective post-tax yield improves significantly in year 1.
Best for: 20–30% tax bracket | Not ideal for: 0–5% slab (minimal tax saving, 5-yr liquidity lost)
FD vs RD vs Debt Mutual Fund — Which is Right for You?
| Factor | Fixed Deposit | Recurring Deposit | Debt Mutual Fund |
|---|---|---|---|
| Investment type | Lump sum | Monthly instalments | Lump sum or SIP |
| Returns | Fixed (6.5–7.75%) | Fixed (6–7%) | Variable (7–9%) |
| Capital guarantee | Yes (up to ₹5L) | Yes (up to ₹5L) | No |
| Taxation | Slab rate | Slab rate | Slab rate (post 2023) |
| Liquidity | Moderate | Moderate | High (T+1/T+2) |
| TDS applicable | Yes | Yes | No (self-declare) |
| Best for | Lump sum parking | Monthly saving | Better post-tax yield |
💡 DICGC insurance covers FD + savings + RD up to ₹5 lakh per bank per depositor. Spread large FD amounts across multiple banks if exceeding ₹5 lakh.
Post Office Time Deposit vs Bank FD — 2026
Post Office FD (Time Deposit) offers 7.50% for 5 years — higher than SBI (6.50%) and competitive with the best private banks, backed by the Government of India.
| Feature | Post Office TD | Bank FD |
|---|---|---|
| 5-year rate | 7.50% | 6.50–7.25% |
| Backed by | Government of India | RBI / DICGC (₹5L) |
| Risk | Zero (sovereign) | Very low (insured) |
| 80C benefit | Yes (5-year only) | Yes (5-year only) |
| Premature withdrawal | After 6 months | After 7 days |
| Online access | India Post app | Net banking / app |
Who Should (and Should Not) Invest in FD?
✅ FD is ideal for:
- •Retirees and senior citizens needing guaranteed income
- •Emergency fund parking (3–6 months expenses)
- •Short-term goals (1–3 years) where market risk is unacceptable
- •Tax-saving with 5-year Tax-Saving FD under Section 80C
- •People in 0–5% tax bracket (tax drag is minimal)
⚠️ FD is NOT ideal for:
- •Long-term wealth creation (inflation-adjusted real return is low)
- •People in 30% tax bracket for long durations (post-tax yield < inflation)
- •Goals over 7+ years (equity mutual funds give far better real returns)
Frequently Asked Questions — FD Calculator
What is the TDS limit on FD interest in 2026?
Which bank has the highest FD rate in India in 2026?
Is FD interest taxable in India?
What is the DICGC insurance limit on FDs?
Can I break an FD before maturity?
What is the minimum FD amount?
Is quarterly or monthly compounding better for FD?
How does a Tax-Saving FD differ from a regular FD?
Calculate FD for Specific Banks
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Content by Satyapal Khakhal, Founder, gpaisa.in | Updated: May 2026