Fixed Deposit (FD) Calculator
Fixed Deposit (FD) Calculator for Home Loan, Car Loan & Personal Loan in India
Calculate FD
FAQs
Q.: What is the difference between Cumulative and Non-Cumulative FDs?
A.: In a Cumulative FD, the interest is reinvested and compounded quarterly, giving you a lump sum at maturity. This is ideal for wealth creation. A Non-Cumulative FD pays out interest at regular intervals (monthly or quarterly), making it perfect for retirees or anyone seeking a steady monthly income.
Q.: How is the interest on a Fixed Deposit calculated?
A.: Our FD calculator uses the standard compound interest formula: $A = P(1 + r/n)^{nt}$. Here, A is the maturity amount, P is the principal, r is the annual interest rate, n is the number of compounding periods per year (usually 4 for quarterly), and t is the tenure in years. This ensures you get an exact estimate of your guaranteed returns.
Q.: What are the FD benefits for Senior Citizens in 2026?
A.: Senior citizens (aged 60 and above) typically enjoy a 0.50% higher interest rate than regular investors. Furthermore, under the latest 2026 tax updates, the TDS threshold for senior citizens has been raised to ₹1,00,000 per year from a single bank, providing significant tax relief for elderly savers.
Q.: Is the interest earned on Fixed Deposits taxable?
A.: Yes, FD interest is classified as "Income from Other Sources" and is taxable according to your income tax slab. Banks deduct 10% TDS if the interest exceeds ₹50,000 (for regular citizens) or ₹1,00,000 (for senior citizens) in a financial year. To avoid TDS if your total income is below the taxable limit, you must submit Form 15G or 15H.
Q.: Can I withdraw my Fixed Deposit before the maturity date?
A.: Most banks allow premature withdrawal, but it usually comes with a penalty, typically ranging from 0.5% to 1% reduction in the applicable interest rate. If you need liquidity, consider a non-cumulative FD or a loan against FD, which allows you to access funds without breaking your entire deposit and losing out on interest.