FD Calculator
An FD calculator calculates the maturity value of the deposited amount. You can use the web FD calculator to understand the returns on your investments supported following factors:
- Deposit Amount – This is often the amount that you invest once in your FD account. The minimum deposit amount should be ₹ 1,000.
- Deposit Tenure – Maturity value also depends on the amount that you invest your money in FD.
- Interest Compound Frequency – This calculates the maturity amount supported monthly, quarterly, half-yearly, or annual frequency.
Fixed Deposit Interest Calculator
Periodic Interest Payout – During this option, you’d receive a hard and fast FD interest rate at the top of each period (say, a quarter). The interest amount would remain unchanged through the tenure of the FD. The entire principal would be repaid at the top of the amount.
Cumulative deposit – You can remember having studied “compound interest” in secondary school. Say, you place a deposit of ₹ 10,000/- with Bank A at 10% p.a. for 3 years. Now, what proportion of money would you get at the top of three years?
Is it ₹ 10,000 in principal plus 10% interest or ₹ 1,000 multiplied by 3? That involves ₹ 13,000. However, if you use the FD interest calculator here, the result is going to be ₹ 13,449. Why does the bank pay you this extra ₹ 449? this is often the compounded FD interest.
In simple terms, interest on bank FD’s is usually compounded quarterly. So, the rate of interest means 2.5% per quarter. At the top of a half-moon, the bank credits ₹ 250 to your time deposit account, and in the next quarter, the interest payable is 2.5% on ₹ 10,250 and not on ₹ 10,000. This process repeats itself for 12 quarters and earns you a complete interest of ₹ 3,449.
The more the compounding frequency, the higher the interest a customer earns on FD. So, rather than quarterly compounding, if the above FD was on a monthly compounding basis, the interest amount would be ₹ 3,482 rather than ₹ 3,449 with quarterly compounding.
In the context of fixed deposits, FD interest compounding refers to earning interest on the interest itself! Slightly complicated on the other hand you create extra money this way!
FD Maturity Calculator
The interest earned on an FD depends on the deposit amount, interest applicable, deposit tenure, and therefore the sort of interest calculation frequency. Interest on FD is often calculated monthly, quarterly, half-yearly, and annually. The rate of interest for senior citizens is above the traditional rates.
Suppose if you create an investment of ₹ 1,00,000 in FD for a 5-year tenure at a rate of interest of 7.00% for depositors below 60 years and 7.50% for senior citizens. The interest calculation on the deposited amount is completed quarterly. The maturity amount for this sediment amount is ₹ 1,41,478 and the total interest earned is ₹ 41,478 for below 60 years aged citizens.
FD Calculation Formula
FD investors can calculate the returns and maturity amount on a hard and fast deposit by using the FD maturity calculator. The FD maturity calculator is a web tool that helps one determine the FD rate of interest earned and the maturity amount, on the idea of a mathematical formula. The formula to calculate the FD returns is, A=P(1+r/n)^n*t. Here, A is that the maturity amount, P is that the principal amount invested within the FD, r is that the rate of interest, and the tenure. The FD rate of interest calculator or FD maturity calculator may be a reliable, and convenient tool that helps one to work out the returns offered on FD.
Income Tax on Fixed Deposit Interest
Interest income from FD’s is taxed at the rate applicable to the time deposit account holder. It means the interest income forms a part of the entire income of the account holder while and it’s taxed as per the applicable tax slab the individual falls under.
One word of caution – interest on deposits is to be taxed on accounting and not on a receipt basis. Say, you place a cumulative deposit with a bank for five years and hence will receive interest only at the top of 5 years.
TDS on FD Interest
Banks are required to deduct TDS on FD interest when the interest exceeds ₹ 40,000/- during a fiscal year. This is often calculated with all branches of an equivalent bank taken together. just in case you’ve got not provided your PAN details to the bank or NBFC, then a TDS of 20% is going to be levied.
In the case of companies, they need to deduct TDS on FD interest at 10% when the interest earned during a year exceeds ₹ 5,000/-.
FD Interest Rates Calculator in India
| Bank | Interest Rates | FD Tenure |
|---|---|---|
| SBI Fixed Deposit | 2.90% – 5.40% | 7 Days – 10 Years |
| HDFC Bank Fixed Deposit | 2.50% – 5.50% | 7 Days – 10 Years |
| Private Bank Fixed Deposit | 2.50% – 5.50% | 7 Days – 10 Years |
| Axis Bank | 2.50% – 5.50% | 7 Days – 10 Years |
| Private Home Finance | 4.30% – 6.45% | 12 Months – 120 Months |
| Kotak Bank | 2.50% – 5.30% | 7 Days – 10 Years |
| PNB Housing Finance | 5.90% – 6.70% | 12 Months – 120 Months |
| IDFC First Bank | 2.75% – 6.00% | 7 Days – 10 Years |
| Bank of Baroda | 2.80% – 5.25% | 7 Days – 10 Years |
| Citibank | 2.40% – 3.50% | 7 Days – 1825 Days |
| IDBI Bank | 2.90% – 5.10% | 7 Days – 20 Years |
| Indian Bank | 2.90% – 5.25% | 7 Days – 10 Years |
| Indian Overseas Bank | 3.40% – 5.20% | 7 Days – 10 Years |
| OBC | 3.00% – 5.30% | 7 Days – 10 Years |
| PNB | 3.00% – 5.30% | 7 Days – 10 Years |
| HDFC | 5.75% – 6.25% | 33 Months – 99 Months |
| Allahabad Bank | 2.90% – 5.25% | 7 Days – 10 Years |
| Andhra Bank | 3.00% – 5.60% | 7 Days – 10 Years |
| Bank of India | 3.25% – 5.30% | 7 Days – 10 Years |
| Bank of Maharashtra | 2.75% – 4.90% | 7 Days – 10 Years |
| Canara Bank | 2.95% – 5.50% | 7 Days – 10 Years |
| Central Bank of India | 2.75% – 5.10% | 7 Days – 10 Years |
| Punjab and Sind Bank | 3.10% – 5.25% | 7 Days – 10 Years |
| UCO Bank | 2.75% – 5.00% | 7 Days – 10 Years |
| Union Bank of India | 3.00% – 5.60% | 7 Days – 10 Years |
| United Bank of India | 3.00% – 5.30% | 7 Days – 10 Years |
| IndusInd Bank | 3.00% – 6.50% | 7 Days – 10 Years |
| Karur Vysya Bank | 3.50% – 5.75% | 7 Days – 5 Years |
| RBL Bank | 3.25% – 6.60% | 7 Days – 20 Years |
| Yes Bank | 3.50% – 6.75% | 7 Days – 10 Years |
| HSBC Bank | 2.25% – 4.00% | 7 Days – 60 Months |
| Standard Chartered Bank | 2.50% – 5.40% | 7 Days – 5 Years |
| LIC Housing Finance | 5.50% – 5.60% | 18 Months – 5 Years |
| Corporation Bank | 3.00% – 5.60% | 7 Days – 10 Years |
| Syndicate Bank | 2.95% – 5.50% | 7 Days – 10 Years |
| DCB Bank | 4.25% – 6.75% | 7 Days – 35 Months |
| Dhan Laxmi Bank | 3.50% – 5.60% | 7 Days – 10 Years |
| Karnataka Bank | 3.40% – 5.70% | 7 Days – 10 Years |
| South Indian Bank | 3.50% – 5.65% | 7 Days – 10 Years |
| Federal Bank | 2.50% – 5.50% | 7 Days – 4 Years |
| Jammu And Kashmir Bank | 3.00% – 5.30% | 7 Days – 10 Years |
| Lakshmi Vilas Bank | 2.50% – 6.00% | 7 Days – 10 Years |
| Bajaj Finance | 6.15% – 7.00% | 12 Months – 60 Months |
| DBS Bank | 2.50% – 5.50% | 7 Days – 10 Years |
| Bandhan Bank | 3.00% – 6.00% | 7 Days – 10 Years |
| AU Small Finance Bank | 3.50% – 6.50% | 7 Days – 120 Months |
| Ujjivan Small Finance Bank | 3.05% – 6.50% | 7 Days – 10 Years |
| Equitas Small Finance Bank | 3.60% – 6.80% | 7 Days – 10 Years |
| Jana Small Finance Bank | 2.50% – 7.25% | 7 Days – 10 Years |
| ESAF Small Finance Bank | 4.50% – 6.50% | 7 Days – 3653 Days |
| India Post Office | 5.50% – 6.70% | 7 Days – 5 Years |
FAQs
✅ How is FD interest calculated?
The FD rate is calculated when you multiple the principal, rate of interest, and tenure. It has a standard formula to correctly calculate the FD rate for the number of periods of time.
✅ Is FD interest paid monthly?
The investment you are doing in a particular tenure ranges from 7 days to 10 years. The same tenure period has been applied for all the banks. The return on investment is compound. It can be monthly, quarterly, or annually.
