Advanced FD Calculator

Most Indian banks add interest every quarter, and that interest earns interest too. So a 6.5 percent FD actually grows about 6.66 percent a year. If the tenure does not end on a full quarter, the leftover days earn simple interest. Open "How we calculated this" to see the formula with your numbers.

Banks work out interest per quarter. When you take it monthly, they pay you before the quarter ends, so each payment is slightly discounted. On 1 lakh at 6.5 percent that is about 539 rupees a month instead of 542.

Leaving the interest in until maturity always earns more, because paid-out interest stops earning. Take a monthly or quarterly payout only if you need the income, for example after retirement. The payout cards show the exact difference for your deposit.

Switch the tenure to Days and type the number. Full quarters are compounded and the remaining days earn simple interest, the way most banks calculate it.

Yes, at your income-tax slab rate, every year as the interest builds up — even when it is paid at maturity. Banks deduct 10 percent TDS once your interest from one bank crosses 50,000 rupees in a financial year (1,00,000 for senior citizens). If your total tax for the year is nil, submit Form 121, which replaced Forms 15G and 15H from April 2026. TDS is not an extra tax; it counts towards your final tax.

Deposits in Indian banks are insured by DICGC up to 5 lakh rupees per person per bank, with principal and interest counted together. If you have more than that in one bank, spreading it across banks keeps all of it covered.

The bank uses the lower of your booked rate and the rate for the period the money actually stayed, then cuts a penalty of about 0.5 to 1 percent. If interest was already paid out monthly or quarterly, any excess is taken back from your deposit. The "Need the money early?" section works this out for your deposit, and a loan against the FD is often cheaper for short needs.

Often not after tax. A 6.5 percent FD at the 20 percent slab keeps about 5.3 percent a year, which is below 6 percent inflation, so the money slowly buys less. The "What you really earn" section shows this for your own slab and inflation.

Banks count actual days, round each interest credit to the rupee, and some pay monthly interest on a fixed date. The difference is usually a few rupees.