FD Calculator India 2026

For simple interest FD: Interest = P × R × T / 100. For compound interest FD (quarterly): A = P × (1 + R/400)^(4T). Most Indian bank FDs compound quarterly. Example: ₹1 lakh at 7% for 1 year = ₹7,186 (quarterly compounding).

Top FD rates in India 2026: SBI 6.5–7.5%, HDFC 6.6–7.4%, ICICI 6.7–7.5%, Axis Bank 6.75–7.6%, Post Office TD 6.9–7.5%. Senior citizens typically get 0.25–0.5% extra.

Yes. FD interest is taxable as "Income from Other Sources" at your applicable income tax slab. TDS is deducted at 10% if annual interest exceeds ₹40,000 (₹50,000 for senior citizens). Submit Form 15G/15H to avoid TDS if income is below taxable limit.

Cumulative FD: Interest compounds and is paid at maturity. Best for wealth growth. Non-cumulative FD: Interest paid periodically (monthly/quarterly/annually). Best for regular income. Cumulative FDs earn more due to compounding.

Yes, premature FD withdrawal is allowed. Banks typically charge a 0.5–1% penalty on the applicable interest rate. Some banks offer no-penalty premature withdrawal for certain FD types. Always check terms before booking.

Bank FDs are covered by DICGC (Deposit Insurance) up to ₹5 lakhs per bank per depositor. For amounts above ₹5 lakhs, consider spreading across multiple banks. Post Office Time Deposits have sovereign guarantee and are considered the safest.