India FD Calculator: Fixed Deposit Maturity Value
Estimate the maturity value of an Indian fixed deposit (FD) from the principal, interest rate, and tenure — the return on one of India's most popular safe savings instruments.
Adjust the inputs and select Calculate for a full breakdown.
Compare Common Scenarios
How the numbers shift across typical situations for this calculator:
| Scenario | Future value | Total growth |
|---|---|---|
| ₹1L · 7% · 5yr | $140,255.17 | $40,255.17 |
| ₹5L · 7.5% (senior) · 5yr | $717,814.66 | $217,814.66 |
| ₹2L · 6.5% · 3yr | $241,589.93 | $41,589.92 |
| ₹10L · 7% · 10yr | $1,967,151.36 | $967,151.36 |
How This Calculator Works
Enter the principal, the FD interest rate, and the tenure. The calculator compounds the principal to maturity and shows the maturity value and total interest earned. This assumes a cumulative FD (interest reinvested and paid at maturity); a non-cumulative FD instead pays interest out periodically, so the principal doesn't grow.
The Formula
Future Value of a Lump Sum
PV = present value, r = annual rate, n = number of years
Worked Example
₹1,00,000 deposited at 7% for 5 years grows to about ₹1,40,255 — roughly ₹40,255 of interest. A fixed deposit locks a lump sum with a bank (or NBFC/post office) for a fixed tenure at a fixed, guaranteed rate, making it a safe, predictable instrument popular for capital preservation. FDs come in two forms: cumulative (interest compounds and is paid with the principal at maturity, modelled here) and non-cumulative (interest paid out monthly/quarterly/annually for income, with the principal returned at the end).
Key Insight
Fixed deposits are the default safe-savings choice for millions in India, and a few features shape the real return. Safety: bank FDs are covered by deposit insurance (DICGC) up to a limit per depositor per bank, making them very low-risk; FDs with NBFCs or corporates offer higher rates but more risk. Compounding and payout: a cumulative FD reinvests interest (usually compounded quarterly) and pays the lump sum at maturity — best for growth — while a non-cumulative FD pays interest out periodically for those needing regular income, in which case the principal doesn't grow. Senior citizens typically earn a higher rate (often +0.25–0.50%). The big real-world deductions this estimate omits: TDS (Tax Deducted at Source) — banks deduct tax on FD interest above a threshold (lower threshold for non-seniors), and FD interest is fully taxable as 'income from other sources' at your slab rate, so your after-tax return is lower than the headline rate (submitting Form 15G/15H can prevent TDS if your income is below the taxable limit). Liquidity: breaking an FD early usually incurs a penalty (a reduced rate), so the lock-in is real; some banks offer flexi/sweep-in FDs for more liquidity. For comparison, a tax-saving FD (5-year lock-in) qualifies for Section 80C deduction but its interest is still taxable. This is a close maturity estimate; for your net return, factor TDS/tax and confirm whether the rate compounds quarterly. FDs suit capital preservation and guaranteed returns; for long horizons, market-linked options may earn more at higher risk.
FD types + 2024 rates
TYPES of FD.
Cumulative FD. Substantial — substantial interest compounded + paid at maturity.
Non-cumulative FD. Substantial — substantial interest paid monthly/quarterly/annually.
Substantial — substantial regular income.
Tax-saving FD. Substantial — substantial 5-yr lock-in.
Substantial — substantial 80C ₹1.5 lakh deduction.
Substantial — substantial substantial substantial substantial.
Sweep FD. Substantial — substantial linked to savings account.
Substantial — substantial auto-sweep above threshold.
Flexi FD. Substantial — substantial flexible terms.
Recurring Deposit (RD). Substantial — substantial monthly contributions.
Substantial — substantial similar tax treatment.
RATES 2024 major banks.
SBI 1-yr. 6.8-7%.
HDFC 1-yr. 6.6-6.9%.
ICICI 1-yr. 6.7-6.9%.
Axis 1-yr. 6.7-6.9%.
Substantial — substantial 5-7 yr longest 6.5-7.25%.
Substantial — substantial top among public + private banks.
SMALL FINANCE BANKS (SFBs) substantial higher.
Suryoday SFB. 8.6-9.1%.
Unity SFB. 9.0-9.5%.
Equitas SFB. 8.0-8.5%.
Substantial — substantial substantial substantial DICGC insured.
Substantial — substantial substantial substantial risk slightly higher.
SENIOR CITIZENS.
Substantial — substantial +0.25-0.50% additional.
Substantial — substantial substantial substantial.
Substantial — substantial age 60+.
SUPER SENIORS.
Substantial — substantial 80+ further +0.10-0.25% sometimes.
Taxation + DICGC insurance + strategy
TAXATION substantial.
Interest fully taxable substantial.
'Income from Other Sources' Schedule.
Marginal slab rate substantial.
Substantial — substantial 5%, 20%, 30% slabs.
Plus cess + surcharge substantial.
Substantial — substantial substantial substantial substantial.
TDS substantial.
10% if interest >₹40K (₹50K seniors).
Substantial — substantial 20% if no PAN.
Substantial — substantial substantial substantial.
Form 15G/15H substantial.
Substantial — substantial nil TDS request.
Substantial — substantial total income < taxable threshold.
Substantial — substantial substantial substantial.
DICGC substantial.
Substantial — substantial ₹5 lakh insurance per bank per depositor.
Substantial — substantial increased from ₹1 lakh in 2020.
Substantial — substantial all banks covered (incl. SFBs, cooperative).
Substantial — substantial substantial substantial substantial.
MULTIPLE banks substantial diversification.
Substantial — substantial 5 banks × ₹5 lakh = ₹25 lakh insured.
Substantial — substantial substantial substantial.
PREMATURE WITHDRAWAL.
Substantial — substantial penalty 0.5-1% of applicable rate.
Substantial — substantial substantial substantial.
Substantial — substantial less than applicable + penalty.
NRI specific.
NRE FD. Substantial — substantial 7-8.5% 2024.
Substantial — substantial repatriable.
Substantial — substantial India tax-free.
NRO FD. Substantial — substantial similar rates resident.
Substantial — substantial taxable.
FCNR FD. Substantial — substantial foreign currency.
Substantial — substantial USD/EUR/GBP.
Substantial — substantial 5-5.5% USD 1-yr 2024.
ALTERNATIVES.
PPF. Substantial — substantial 7.1% 2024.
Substantial — substantial 15-yr lock-in.
Substantial — substantial EEE tax-free.
NSC (National Savings Certificate). Substantial — substantial 7.7% 2024.
Substantial — substantial 5-yr.
Substantial — substantial 80C deduction.
Sukanya Samriddhi. Substantial — substantial 8.2% 2024.
Substantial — substantial girl child.
Senior Citizen Savings Scheme (SCSS). Substantial — substantial 8.2% 2024.
Substantial — substantial 5-yr.
Substantial — substantial ₹30 lakh cap.
RBI Floating Rate Bonds. Substantial — substantial 8.05%.
Substantial — substantial substantial substantial substantial.
STRATEGY substantial.
(1) Multiple banks within DICGC limits.
(2) Senior citizen rates substantial advantage.
(3) Tax-saving FD for 80C.
(4) Laddering for liquidity + reinvestment.
(5) PPF + NSC + tax-saving FD substantial.
(6) SFBs for higher rates substantial DICGC covered.
India FD rate benchmarks (2024)
Reference FD rates by bank type + tenure.
| Bank / Type | Rate range |
|---|---|
| SBI 1-yr | 6.8-7% |
| HDFC / ICICI / Axis 1-yr | 6.7-6.9% |
| PSU Banks 5-yr | 6.5-7% |
| Small Finance Banks 1-yr | 8.0-9.5% |
| Senior citizens premium | +0.25-0.50% |
| DICGC insurance per bank | ₹5 lakh |
| TDS threshold | ₹40K (₹50K seniors) |
| TDS rate (with PAN) | 10% |
| NRE FD rate | 7-8.5% |
| FCNR USD 1-yr | 5-5.5% |
| PPF 2024 | 7.1% |
| RBI Floating Rate Bond | 8.05% |
Interest fully taxable at marginal slab rate. DICGC insurance ₹5 lakh per bank — multiple banks for diversification. Small Finance Banks substantial higher rates DICGC covered. Senior citizen rates +0.25-0.50% premium. Form 15G/15H for nil TDS if below taxable threshold. RBI + CBDT + DICGC framework.
Frequently Asked Questions
How is FD maturity value calculated?
The principal compounds at the FD rate over the tenure. ₹1,00,000 at 7% for 5 years grows to about ₹1,40,255 (roughly ₹40,255 interest). This assumes a cumulative FD; banks typically compound quarterly, so this annually-equivalent figure is a close estimate.
What's the difference between cumulative and non-cumulative FD?
A cumulative FD reinvests the interest and pays the lump sum at maturity (best for growth, modelled here). A non-cumulative FD pays interest out periodically (monthly/quarterly/annually) for regular income, with only the principal returned at the end — so the principal doesn't grow in a non-cumulative FD.
Is FD interest taxed?
Yes — FD interest is fully taxable as 'income from other sources' at your income-tax slab rate, and banks deduct TDS (Tax Deducted at Source) on interest above a threshold. So your after-tax return is lower than the headline rate. Submitting Form 15G/15H can prevent TDS if your total income is below the taxable limit.
Are fixed deposits safe?
Bank FDs are very low-risk — covered by DICGC deposit insurance up to a limit per depositor per bank. FDs with NBFCs or corporates offer higher rates but carry more risk. The rate is fixed and guaranteed for the tenure, which is why FDs are popular for capital preservation and predictable returns.
Can I withdraw an FD early?
Usually yes, but with a penalty — typically a reduced interest rate for premature withdrawal — so the lock-in has a real cost. Some banks offer flexi or sweep-in FDs for more liquidity. A tax-saving 5-year FD (which qualifies for Section 80C deduction) generally cannot be broken early.
When is this calculator unreliable?
Less reliable when tax slab rate applies (FD interest fully taxable as 'income from other sources' at marginal slab — 5%, 20%, or 30% + cess), when TDS @ 10% deducted if PAN provided / 20% no PAN, when Form 15G/15H for nil TDS submission, when cumulative vs non-cumulative quarterly/monthly interest different effective yield, when premature withdrawal penalty 0.5-1% applies, when DICGC insurance ₹5 lakh limit (₹500K per bank) — multiple banks for diversification, or when NRE/NRO/FCNR different tax treatment.
References & Authoritative Sources
- Reserve Bank of India (RBI) — FD Rates + Banking Regulation · consulted June 1, 2026 · Central bank
- Income Tax Department of India / CBDT — TDS on Interest · consulted June 1, 2026 · Federal tax authority
- DICGC — Deposit Insurance + Credit Guarantee Corporation · consulted June 1, 2026 · Federal insurance
Related Calculators
Methodology & Review
India Fixed Deposit (FD) maturity = principal × (1 + rate)^tenure for cumulative; principal + (principal × rate × tenure) for simple interest non-cumulative. Calculator returns maturity + tax. Top FD rates 2024: 7-9% major banks; 8-9.5% Small Finance Banks (SFBs); senior citizens +0.25-0.50%. TDS 10% if interest >₹40K (₹50K seniors). RELIABILITY: Reliable for documented FD terms. Less reliable when (a) tax slab rate applies (FD interest fully taxable as 'income from other sources'); (b) TDS @ 10% deducted if PAN provided / 20% no PAN; (c) Form 15G/15H for nil TDS submission; (d) cumulative vs non-cumulative quarterly/monthly interest different effective yield; (e) premature withdrawal penalty 0.5-1%; (f) DICGC insurance ₹5 lakh limit (₹500K per bank); (g) NRE/NRO/FCNR different tax treatment.
Updated