FD Calculator (India)
Bank Fixed Deposit — with senior citizen rates
₹
% p.a.
yrs
mo
Maturity Amount
—
Principal
—
Interest Earned
—
Effective Rate
—
Reference rates (Apr 2025): SBI 1yr: 6.8% · HDFC 1yr: 7.1% · ICICI 1yr: 6.9% · PNB 1yr: 6.8% · Axis 1yr: 7.1%
Senior citizens typically get +0.25% to +0.50% extra.

What is an FD (Fixed Deposit) calculator?

An FD gives you a guaranteed return on a lump sum deposit for a fixed period. Banks compound interest quarterly. Senior citizens typically get 0.25–0.5% extra. This calculator shows exact maturity amount and helps compare rates across banks.

Formula used

FD Maturity = P × (1 + r/n)^(n×t) Where: P = Principal | r = Annual rate ÷ 100 n = Compounding frequency (4 for quarterly) t = Time in years

How to use this calculator

  1. Enter principal amount
  2. Enter interest rate (check current bank rates)
  3. Enter tenure in years and months
  4. Select compounding frequency (quarterly for most banks)
  5. Tick senior citizen if applicable (+0.25–0.5% extra)
  6. Click Calculate

Example

Example 1 — ₹5 lakh FD for 3 years at 7.1%:
Maturity = 5,00,000 × (1 + 0.071/4)^(4×3) = ₹6,16,070
Interest earned: ₹1,16,070

Example 2 — Senior citizen at 7.6% (+0.5%):
Same FD: Maturity = ₹6,24,850 → ₹8,780 extra just for being a senior citizen

Indicative FD rates (May 2025):

Bank type1 yr3 yr5 yr
SBI / Large PSU6.8%6.75%6.5%
HDFC / ICICI7.1%7.0%7.0%
Small Finance Banks8.5%+8.5%+8.0%+

Frequently asked questions

Yes — added to income and taxed at your slab rate. TDS at 10% deducted if annual interest exceeds ₹40,000 (₹50,000 for senior citizens). Submit Form 15G/15H to avoid TDS if total income is below taxable limit.
Interest is paid at the rate applicable for the period actually held, minus a 0.5–1% penalty. Most banks allow premature closure.
Deposits up to ₹5 lakh per depositor per bank are covered by DICGC insurance. Keep deposits within this limit at any single small finance bank.