FD Calculator
Calculate the maturity value of a fixed deposit with quarterly, monthly or yearly compounding, and check whether the interest crosses the TDS threshold.
Growth over time
Hover or tap the chart to see each year. Values update as you change the inputs.
Year-by-year table
How this calculator works
Maturity = P × (1 + r ÷ n)n × t, where P is the deposit, r the annual rate, n the number of compounding periods a year (4 for quarterly) and t the years. Banks set their own FD rates, so enter the rate your bank quotes; 6.5% is only an example.
TDS: from 1 April 2026 the rule is in Section 393(1) of the Income-tax Act, 2025 (it was Section 194A). A bank deducts 10% TDS (with PAN) when your FD and RD interest at that bank exceeds ₹50,000 in a year, or ₹1 lakh for resident senior citizens. Form 121 replaces Forms 15G and 15H for people whose tax is nil. TDS or not, FD interest is taxable at your slab rate.
Worked example: ₹5 lakh for 3 years at 6.5%
| Item | Amount |
|---|---|
| Maturity with quarterly compounding | ₹6,06,704 |
| Interest earned | ₹1,06,704 |
| With yearly compounding instead | ₹6,03,975 |
Sources & data
Figures checked on November 3, 2026.
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Frequently Asked Questions
How is FD interest calculated?
Most banks compound quarterly: maturity = P × (1 + r/4)^(4 × years). Monthly-payout FDs pay interest out instead of compounding it.
When is TDS deducted on FD interest?
When total FD and RD interest at one bank exceeds ₹50,000 in a financial year, or ₹1 lakh for resident senior citizens. The rate is 10% with a valid PAN.
What replaced Form 15G and 15H?
From tax year 2026-27, Form 121 under the Income-tax Act, 2025 is used to ask the bank not to deduct TDS when your tax for the year is nil.
Is FD interest tax-free below the TDS limit?
No. The threshold only decides whether the bank deducts tax. All FD interest must be added to your income and taxed at your slab rate.