Maturity Amount
₹1.45 L
FD interest is taxable. TDS at 10% applies if interest exceeds ₹40,000/year (₹50,000 for senior citizens).
Explore Better AlternativesWhat is an FD Calculator?
An FD (Fixed Deposit) calculator estimates the maturity amount of your fixed deposit based on the principal, interest rate, tenure, and compounding frequency. It helps you compare FD returns across banks and plan your finances accordingly.
Compound interest FD formula:
Where M = maturity amount, P = principal, r = annual rate, n = compounding frequency per year, t = tenure in years.
Types of Fixed Deposits
- Regular FD: Standard term deposits with fixed rates for 7 days to 10 years.
- Tax-Saving FD: 5-year lock-in, eligible for Section 80C deduction up to ₹1.5L. Interest is taxable.
- Senior Citizen FD: 0.25 to 0.75% higher rates for investors aged 60+.
- Cumulative FD: Interest reinvested, paid at maturity. Higher final amount.
- Non-Cumulative FD: Interest paid monthly or quarterly. Ideal for regular income.
FD vs Mutual Funds — The Honest Comparison
FD interest for someone in the 30% tax bracket is effectively 5.25% (at 7.5% gross). A debt mutual fund or arbitrage fund with similar risk often delivers better post-tax returns due to LTCG taxation at 20% (with indexation) for debt funds held over 3 years. Equity mutual funds offer significantly higher long-term returns with the caveat of market risk. FD's advantage is certainty — you know exactly what you will receive. But for wealth creation over 5+ years, FDs typically underperform inflation-adjusted returns.