Calculators · Fixed deposit
Know your FD's maturity to the rupee.
Indian banks compound FDs quarterly. Enter your deposit, rate and tenure to see the exact maturity amount and interest earned — the same formula your bank's system runs.
How FD interest is calculated
Maturity = P × (1 + r ÷ 4)^(4 × years), where P is your deposit and r the annual rate — the quarterly-compounding standard across Indian banks. A ₹2 Lakh FD at 7% for 5 years matures at about ₹2.83 Lakhs.
Senior citizens typically earn 0.25–0.75% extra. Interest is taxable at your slab rate, and banks deduct TDS once interest crosses ₹40,000 a year (₹50,000 for seniors) — factor that into post-tax returns.
FD as collateral — loans without breaking the deposit
If you need money mid-tenure, breaking an FD costs you a penalty (usually 0.5–1% off the rate). A loan against the FD — up to 90% of its value at 1–2% above the FD rate — is often cheaper, and your deposit keeps compounding.
For short-term needs, compare that against a personal loan on Samridhya: for strong credit profiles the rates can be surprisingly close, without touching your savings.
Common questions.
How is FD maturity calculated?
With quarterly compounding: maturity = principal × (1 + rate ÷ 4)^(4 × years). A ₹1 Lakh FD at 7% for 3 years matures at about ₹1.23 Lakhs.
Is FD interest taxable?
Yes, at your income-tax slab. Banks deduct 10% TDS once annual interest exceeds ₹40,000 (₹50,000 for senior citizens); submit 15G/15H if your income is below the taxable limit.
Can I take a loan against my FD?
Yes — most banks lend up to 90% of the FD's value at 1–2% above your FD rate, without breaking the deposit.
What happens if I break an FD early?
You earn interest for the actual period at the applicable rate minus a premature-withdrawal penalty, typically 0.5–1%.