Fixed Deposit (FD) Calculator
Calculate your FD returns, compare bank rates, and plan your investments efficiently. Discover how different FD types can help you meet your financial goals.
What is a Fixed Deposit (FD)?
Fixed Deposits (FDs) are one of the safest and most popular investment options in India. They allow you to deposit a lump sum amount with a bank or financial institution for a fixed tenure, earning guaranteed interest. FDs are ideal for conservative investors who value safety and predictable returns, while also helping in planning short-term and long-term financial goals. Whether you are a salaried professional, business owner, or retiree, understanding FDs can help you make informed investment choices.
Fixed Deposits are considered risk-free because the principal amount is secure, and the returns are guaranteed. Banks offer different interest rates based on tenure, amount, and depositor profile. FDs can be classified based on their interest payout method, tax treatment, and tenure. The interest can be compounded monthly, quarterly, half-yearly, or annually depending on the bank and deposit type. Investors can choose FDs according to their liquidity needs and financial planning goals.
Over the years, FDs have remained a reliable instrument for wealth preservation and capital growth. They are widely used for saving towards emergency funds, children's education, retirement planning, or even short-term goals like buying a car or funding a vacation. The combination of safety, guaranteed returns, and flexible tenure makes FDs an essential component of a well-balanced investment portfolio.
Benefits of FDs
- Guaranteed returns on investment
- Low risk, capital protection
- Flexible tenures from 7 days to 10 years
- Option for cumulative and non-cumulative interest
- Higher rates for senior citizens
- Useful for goal-based savings and emergency funds
FD Interest Calculation Example
Suppose you invest ₹1,00,000 in an FD for 1 year at an interest rate of 6.5% per annum (compounded quarterly). At the end of the tenure, the maturity amount will be calculated using the formula for compound interest. This helps you plan your investments better and estimate returns accurately.
Types of Fixed Deposits
Tax Saving FD
FDs eligible for tax deduction under section 80C with a lock-in period of 5 years.
Learn More
Non-Cumulative FD
Interest is paid out monthly, quarterly, half-yearly, or annually as per your choice.
Learn More
How It Works
Enter Deposit Amount
Provide the amount you want to invest in a fixed deposit to calculate returns accurately.
Select Tenure
Choose the tenure of your FD in months or years to see interest accumulation over time.
Pick Interest Type
Select cumulative or non-cumulative option based on your liquidity preference.
View FD Returns
Get a detailed breakdown of principal, interest earned, and maturity amount.
Top FD Rates from Major Banks
Note: Rates are subject to change. Always verify with the respective bank before investing.
| Bank | 1 Year | 3 Years | 5 Years | Senior Citizen |
|---|---|---|---|---|
| SBI | 6.80% | 7.00% | 7.20% | 7.50% |
| HDFC | 6.60% | 6.85% | 7.05% | 7.20% |
| ICICI | 6.60% | 6.90% | 7.10% | 7.30% |
| Axis Bank | 6.50% | 6.75% | 6.95% | 7.15% |
| Kotak Mahindra | 6.40% | 6.65% | 6.85% | 7.05% |
Tips & Best Practices
Compare Interest Rates
Always check multiple banks for the best FD rates. Slight differences can significantly affect returns over long tenures.
Plan Tenure Strategically
Align FD tenure with your financial goals. For emergency funds, choose shorter terms; for long-term growth, longer terms yield better interest.
Senior Citizen Benefits
If you're above 60, look for senior citizen FDs offering higher rates to maximize your returns.
Tax Planning
Consider tax-saving FDs under section 80C for additional benefits while investing.
Interest Payout Options
Choose cumulative or periodic payout based on your cash flow needs. Cumulative FDs compound interest for higher maturity value.