◐FD calculator

Indian banks use compound interest, typically compounded quarterly. The formula is M = P × (1 + r/n)^(n×t). Monthly-payout FDs use simple interest. Toggle above to compare both.

Banks deduct 10% TDS once annual interest crosses ₹40,000 (₹50,000 for senior citizens). To avoid TDS if your total income is below the taxable limit, submit Form 15G/15H at the start of the financial year.

Most banks offer 0.25–0.75% extra interest on FDs for citizens aged 60 and above. We apply a flat +0.50% above the standard rate as a typical benchmark.

SFB deposits up to ₹5 lakh are insured by DICGC, the same as any scheduled commercial bank. They typically offer 0.5–1.5% higher rates — often the best post-tax return for conservative savers.