Calculators / Government & bank savings
Government & bank savings
Fixed Deposit Calculator India
A fixed deposit pays a set rate for a set term, and the bank shows you a comforting maturity figure. This calculator shows the rest of the story: what that maturity is worth after tax and inflation, at your own bank's rate and tenure.
A ₹1 lakh FD at 7% grows to ₹1.41 lakh in five years. After 30% tax and 6% inflation, that is worth about ₹96,000 in today's money. The FD kept your capital safe and let its value shrink.
FD rates vary by bank and tenure and change often. Enter your bank's own rate above. Last reviewed September 2026.
Interest is fully taxable at your slab. TDS applies once interest at a bank crosses ₹50,000 a year (₹1 lakh for seniors).
About the FD calculator
A fixed deposit pays a set rate for a set term. The capital is safe and the return is certain, which is the whole point of an FD and also its whole limit. Below the tool is how the maturity is worked out, what your FD really earns after tax and inflation, and where an FD still deserves a place.
| FD rate | Matures to | Worth in today's money |
|---|---|---|
| 6% | ₹1,34,686 | ₹92,869 |
| 7% | ₹1,41,478 | ₹96,422 |
| 8% | ₹1,48,595 | ₹1,00,145 |
The maturity looks like growth. But after 30% tax and 6% inflation, a 7% FD leaves you with less buying power than the ₹1 lakh you started with. Only above 8% does a top-slab saver stay level. Enter your own rate above for your figure.
How much will my FD earn?
On the calculator's default, ₹1 lakh at 7% for five years matures to ₹1,41,478, of which ₹41,478 is interest. Interest compounds quarterly, the norm for bank FDs, so a longer tenure and a higher rate both lift the figure. Enter your own deposit, your bank's rate and your tenure above for your number.
How is FD maturity calculated?
The deposit grows by a quarter of the annual rate every three months, and each quarter's interest then earns interest too. For a deposit P at rate r compounded four times a year for n years, maturity is P × (1 + r/4)4n. At 7% on ₹1 lakh for five years that is ₹1,41,478. Some banks and company FDs compound differently, so check your own certificate.
What is my FD really worth after tax and inflation?
Less than the maturity suggests, and for many savers less than they put in. Interest is taxed every year at your slab, and what is left has to keep up with inflation. A 7% FD is about 4.9% after 30% tax, and after 6% inflation that is a real return of roughly minus 1% a year. That is how a ₹1 lakh deposit can mature to ₹1.41 lakh and still buy less than ₹1 lakh did.
| Your tax slab | Post-tax FD rate | Real return |
|---|---|---|
| No tax | 7.00% | +0.94% |
| 5% | 6.65% | +0.61% |
| 20% | 5.60% | -0.38% |
| 30% | 4.90% | -1.04% |
Tax is charged every year at your slab. The higher your slab, the less the FD returns after 6% inflation. For a top-slab saver a 7% FD loses about 1% of its value a year in real terms, safely and on schedule.
Is FD interest taxable?
Yes, fully, at your income-tax slab, and it is taxed in the year it accrues whether or not you withdraw it. Banks deduct TDS once your interest at that bank crosses ₹50,000 in a year (₹1 lakh for senior citizens); if your total income is below the taxable limit you can file Form 15G or 15H to stop the TDS. There is no tax-free FD: even the 5-year tax-saving FD gives an 80C deduction on the deposit, not on the interest.
Is a 5-year tax-saving FD worth it?
It earns a Section 80C deduction on the amount deposited, up to ₹1.5 lakh, but the interest is still taxed every year and the money is locked for five years with no early exit. For the same 80C slot, PPF is tax-free and ELSS has a shorter lock-in with equity-like returns. A tax-saving FD suits someone who wants certainty inside 80C and nothing else; for most, the alternatives compound better.
FD, debt fund, or index fund?
It depends on when you need the money. For money you will spend within a year or two, an FD or a debt fund is right, and the certainty is worth more than a point of return. For money you will not touch for five years or more, an index fund has historically beaten the FD comfortably after tax, because the FD's after-tax return barely clears inflation. The mistake is parking long-term money in an FD out of fear, and letting it lose value slowly and safely.
How much of my FD is insured?
Deposits in a bank are insured by the DICGC up to ₹5 lakh per depositor per bank, covering your principal and interest together. That cover is the reason to spread a large sum across banks rather than pile it into one. Company FDs and NBFC deposits carry no such insurance.
Are company FDs safe?
A company FD pays a higher rate because it carries higher risk: it is an unsecured loan to that company, with no DICGC cover, and its safety is only as good as the company. Check the credit rating, prefer the highest grades, and never chase the top rate from an unrated or weak issuer. The extra one or two percent is not worth your principal.
Should senior citizens use FDs?
Senior citizens usually get about 0.5% more, a higher ₹1 lakh TDS threshold, and a Section 80TTB deduction of up to ₹50,000 on interest, which together make the FD far more workable in retirement. Certainty also matters more when you are drawing down and cannot wait out a market fall. The real-return caveat still holds, so keep growth money elsewhere, but for a retiree's safe, spendable core an FD earns its place.
When does an FD actually make sense?
For your emergency fund, for money you will need within one to three years, and for anyone who genuinely values a certain outcome over a larger uncertain one. An FD is a place to keep money safe, not a place to build wealth. Use it for the money you cannot afford to see fall, and let money you will not need for years work harder elsewhere.