Fixed Deposit (FD) Calculator – Calculate Maturity Value, Interest & Quarterly Compounding
Calculate Fixed Deposit maturity value, quarterly compounding interest, senior citizen +0.50% special rates, TDS limits, and year-by-year compounding schedule table.
Adds +0.50% interest bonus
Standard for SBI, HDFC, ICICI FDs
Year-by-Year FD Compounding Schedule
Annual progression of opening deposit, compounded interest added, and cumulative maturity value.
| Year | Opening Principal | Interest Earned This Year | Total Cumulative Interest | Closing Balance |
|---|
How to Use this Calculator & Formula Breakdown
Step 1: Input Financial Parameters
Enter your FD principal deposit amount.
Step 2: Instant Client-Side Computation
Set annual interest rate % and tenure in years with senior citizen toggle.
Step 3: Analyze Visual Breakdown & Amortization
Explore live interactive Chart.js donut chart, TDS threshold status, and full compounding schedule table.
Mathematical Algorithm & Formula
Frequently Asked Questions (FAQs)
How is Fixed Deposit (FD) interest compounded in Indian banks?
Most major commercial banks in India (such as SBI, HDFC, and ICICI) calculate FD interest on a quarterly compounding basis (4 times a year), using the formula: A = P × (1 + r/4)^(4t).
What is the Senior Citizen additional interest rate on FDs?
Indian banks provide an additional 0.50% (50 basis points) higher interest rate on fixed deposits for senior citizens (aged 60 and above), and up to 0.75% extra under special super-senior schemes.
What is the TDS threshold limit on Fixed Deposit interest in India?
Under Section 194A, banks deduct 10% TDS if the total FD interest across all branches exceeds ₹40,000 per financial year for regular individuals and ₹50,000 for senior citizens (Section 80TTB).
Can I avoid TDS on FD interest by submitting Form 15G or 15H?
Yes! If your total taxable income is below the basic exemption limit, you can submit Form 15G (for individuals below 60) or Form 15H (for senior citizens) at the beginning of the financial year to prevent TDS deduction.
What is a 5-Year Tax Saver Fixed Deposit?
A 5-Year Tax Saver FD comes with a mandatory 5-year lock-in period and qualifies for tax deduction of up to ₹1.5 Lakhs under Section 80C of the Income Tax Act.
Are Bank Fixed Deposits safe and insured in India?
Yes, fixed deposits in all scheduled commercial banks are insured up to ₹5,00,000 (Principal + Interest) per depositor per bank by DICGC (Deposit Insurance and Credit Guarantee Corporation), a wholly-owned subsidiary of RBI.
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